New Britain Herald Newspaper, June 18, 1921, Page 5

veniently divided fato three classes: Food-stuffs, including wheat, flour, meat, fruits, datry! produce, etc.; raw materials, o= cluding cotton, coal, tobacce, lum-' ber, copper, zinc, iron, steel, leathe; er, oll, etc.; and manufactures, ine' cluding agricultural implements,! textiles, machinery, automebiles,| | locomotives, and other flniM] | products. Bach of these may b.’ further subdivided as minutely as the interested person may desire, but for the sake of simplicity we shall consider here only the broad divisions mentioned. An effect of the war upon our export trade was an immediate increase in the ship- ment from this country of food- stuffs and of finished manufactures. As European industry turned from its normal pursuits to the produc- tion of munitions, a decline took place in shipments of raw mate- rials. Commodities such as coppee were in greater demand tham fee~ merly. Cotton, which had com- prised the bulk of raw exports, wag then desired in the finished ratheq than the raw condition. During 1919 and 1920, on the other hand, the major increass im; our export trade is traceable te the, demand of the old industrial ba-| tions for our raw materials and| our foodstuffs, which were needed’ to re-establish their manufactures. Our shipment of raw materials, es-! pecially cotton and tobacco, bn-f to Increase, though copper and steel decreased. At the same 61 the exports of foodstuffs and many manufactures increased very| rapidly. X Imports also grew in the : stice years more rapidly than at any previous time of our Hml However, the principal increase was in imports from WMI ca and the Orjent, rather than in those from Europe. A very large percentage of the tetal increass is represented by raw materials and foodstuffs, such as hides, rubber, silks, coffee and sugar. The imper; tation of such articles had been re-, stricted when shipping was diverted from ordinary mercantile channels| to the transport of our army and its supplies to France. With the return of shipping its trade routes, imports of these' articles became so large that tha country was rapidly flooSed with more than it could consume at high prices. In consequence, these ima- ports have now been practically suspended, and the ceuntries of) which they are staple exports are undergoing Severe cemmercial re- adjustment to more nermal trade! conditions. As industrial Burope returns to its pre-war masutac-! tures and regains its former re-ex-, port trade, it is probable that s considerably larger perceatage ot our imports will be frem that quarter. A SUGAR MILL IN CUBA~ CONSIDERABLE AMERICAN CAPITAL IS INVESTED IN THE CUBAN SUGAR INDUSTRY. WE NOW HAVE A GREAT MERCHANT MARINE TO CARRY OUR INTERNATIONAL TRADE. L ©srvin Since our earliest days as a na- tion, it has been a tradition, carried almost to extreme, that we should maintain a position of aloofness in international affairs, and this attl- tude has influenced our policies to- wards foregin trade and shipping, as well. We have always had a foreign commerce, but never as a primary interest, as In Great Britain and Germany, where such trade has been vita o them for many years. Our own domestic market has been so great that it absorbed by far the greater per- centage of our production of every kind and, similarly, the opportu- nities at home for the use of capi- tal for the development of our abundant resources have not only absorbed all our own surplus funds for investment, but have also drawn upon the capital of other countries, Great Britain especially, to a total of billions of dollars. It is true that mines in Mexico, Chile and Peru, the meat freezing plants in Argentina, Uruguay and Paraguay, and the paper Industry in Canada, for example, have at- tracted several hundred millions of our investments abroad, but we were heavily indebted to other countries for capital they had loaned to us during many years. Today the change in this financial situation of the country is very marked. We have rebought a large proportion of our foreign-owned securities and, In addition, have loaned about fifteen billions to foreign governments and to munici- pal and private creditors, mainly in European countries. The Federal Reserve Act has given us a foreign banking organi- zation that Is quite adequate for ¥ By FRANCIS H. 81SSON, Vice President Guaranty Trust Company of New York. INCE the beginning of his- ! tory International trade ! has played an important part in the prosperity and progress of all great states. The Phoenicians were traders with far countries more than three thou- sand years ago; the Greeks were eager merchants and sallors, as wrell as architects and statesmen; the Roman Empire was a power- ful economic state. Venice had her glorious period of trade dom- Ination, lost when rivals in Spain and Portugal overcame her com- mercial advantages. The Hanseat- ic League also had its long career of leadershlp In commerce and In shipping. The Dutch in turn with their skill In manufacture and finance and their merchant fleets wrote another brilllant page in this ehronicle. Then Great Britain began her weries of commercial conquests that led directly to political empire in many countries. The lessons of this record are elearly written for those who " study the present position of our own country. The United States, blessed with resources beyond com- parison richer and more powerful than any other, must now take the great decision as to her future poli- ecles. All the weapons for peaceful and legitimate leadership are with- In her grasp. The war has strength- ened the United States where she was weak. Her merchant fleet em- ployed in foreign trade in 1913 was only 1,019,155 tons. Now it Is sec- ond only to that of Great Britain apd comprises 15,000,000 tons. EIGHT [HALF OF INCOME surplus would mean serious labor depression. It is no longer true that we can look with compara- tive indifference upon our exports of manufactured articles as com- prising too small a part of our total trade to be a matter of serious concern when they fall off. For many years the ratio of exports of manufactures to our total man- ufacturing production has been in- creasing, until now it has reached an améunt that probably spells the difference between prosperity and failure in many industries. Sales of nearly three hundred million dollars’ worth of automobiles abroad are a case in point, or, for example, the total sales of leather products valued at nearly two hun- dred million dollars. It is well to examine the recent development of our trade in some detail, for as we study the situation, at every turn we perceive the urgency of a na- tion-wide comprehension of these facts—our need for foreign mar- kets and, further, our reliance upon foreign sources of supply of es- sential raw materials to keep our factories employed. When we review the course of our foreign trade during the war and since the signing of the Ar- mistice, it is obvious that we are dealing with a period which is ab- normal, as compared with any period of our peace time experi- ence. During the nineteenth cen- tury our merchandise trade grew steadily larger in value. During A NITRATE YARD IN CHILE—~ 'ANOTHER FOREIGN INDUSTRY ¥ / THAT IS ABSORBING LARGE | 'AMOUNTS OF AMERICAN CAPITAL seize this greatest of all our op- portunities? In fact, we must go forward, or we shall inevitably be forced to retreat from our present position with heavy losses all along the line—in shipping, banking and trade. We are already vigorously challenged by competitors in for- eign markets. A courageous na- tional policy of legitimately ag- gressive development of all these newly co-ordinated resources for the conduct of foreign trade is es- sential. Every American—merchant, man- ufacturer, banker, farmer or la- borer—has some stake in this strug- gle. Our sales abroad of two billion dollars™ worth of food prod- ucts annually is a fact of impor tance to every farmer, either in di- rect interest or in effect upon prices. Exports of two hundred million dollars worth of tobacco and more than a billion dollars in value of cotton add force to this ar- gument. - Further, our vast industries when fully employed now produce such a surplus. over domestic demands that loss of-a foreign outlet for this the needs of our International po- sition and is constantly being ex- tended. The large American hanks have numerous branches abroad, and in every country there are di- rect banking connections with New York. Whatever. may be the de- velopment of our foreign trade, it will surely be accompanied by a similar growth and strengthening of this great financial organization, upon whose service must rest the orderly and successful conduct of overseas commercial transactions. Now we have all the foundation stones for any international trade structure that we may decide to erect: We have ships, a world- wide banking organization, illimit- able capacity for production of both raw materials and manufac- tures, and capital resources far be- yond any competitor. We have ceased to be a debtor nation and, in addition to a record of actual fa- vorable trade balances of billions far the last two or three years, we shall have an invisible export rep- resented by interest on the vast sums that have been loaned abroad. High prices have been an impor- tant factor influencing this won- derful record of exports, but in spite of that element, the figures of our present trade disclose an un- usual story of commercial activity. Vastly increased capital, ample shipping, and an enormous foreign trade were all the immediate result of the stimulus of the war, com- bined with our exceptional re- sources as an agricultural and manufacturing nation. We are now at the parting of the ways. What are to be our policies in this new relation which we hold in the world of trade? All of the elements required to &ontrol and extend our commerce are at our command. Are ‘we in the mood to . U ——————————— | b carry a story of N with sometimes a after them. Many interest, human tragedy. There is Cinderclla, who had been | MONTHS Change of Life. How ybia E.Pinkham's Vegetable @mround Got Me Up Afton, Tenn. — ‘I want other suffer- women to know what Lydia E.Pink- ham's Vegetable Compound has done for me. During the Change of Life [ was in bed for eight months and had two gooddoctors treating me but they did me no friend adv] me to take Lydia E. Pinkham's Vag:tnglah (l)om- . pound, whic! did, e and in a short time I better. I bad all kinds of bad pells, but all left me. Now when eel weak nervous I take the Vege- ble Compound and it always does me ood. 1 wish all women would try it us the Change of Life for I know it | do them If you think it will nduce some one to trr the Vegetable ompound you may publish this letter.’ Mrs. A. KELLER, Afton, Tennessee. 'omen from forty-five to fifty year should take warning from such to as heat flashes, palpitation 1 heart, smothering or fainting pells, or spots before the eyes, and pre- bare their system for this perfectly na- fural change by taking Lydia E. k- ham’s Vegetable Compound. It has helped many, many women through this ying period, just as it did Mrs.Keller. Cuticura Is Just Right [Fx By T i éfiafi% s ofred- ely med: alcum. ., SPENT ON ANIMALS Two Missouri Women Care for Man’s Abused Companions Kansaas City, Mo., June 18.—Would you be willing to give more than half of your modest income to make lifc less rigorous for neglected or suffer- ing animals? s the sacrifice being made by s Sarah and H. H. Jacobs of Kan- sas City, Kansas, eacross the river from here. And it is no mere pass- ing hobby—they have been doing this for the last quarter century. The Jacobs s tionally known for their unselfisk work. Living in a little cotts surround- ed by rose bushes, bird houses, flower beds and fruit trees, two have consecrated their lives to ameliorating the hardships visited u man's of ten neglected and abused compan- ions. H. H. Jacobs provides the by working as a bookkeeper on the Missouri side, while Miss Sarah looks after the home and its And therc many Jacobs home dogs, cats and two these pets, Lowever, . represent only a minor part of the activities of the two workers. Both are officers in the Wyandotte County Humane society and labor incessantly to benefit animal life through that source. With all this the Jacobs are not unmindful of the needs of unfortunate children and even adults of their city, they are active in the Associated ( ities. Miss Sarah, who was found at home with her charges, said that her first Instruction in humane work was when she was a little girl and her father taught her that it just as easy to step around an ant hill as to crush it with her heel. The father was Samuel Jacobs, formerly of St Joseph, Mo., who helped build the Hannibal & St. Joseph railway, now part of the Burlington and who was c<ditor of the an anti-slavery democratic paper of Fair- fiel, Ia. While thoroughly the thesc income numerous pets pets in the two score The care of are ten parrots, busy system, Jefferson orthodox in their Jacobhs believe firmly that most of the sin and suffering in the world has followed man abit of killing and abusing animal here is nothing mawkish about their views, however, Miss Sarah, as president of the Humane society, has personally chloroformed hundreds of diseased, deformed an¥l homcless antmals It expedient,” she said, “to rcmove them to avert furth- er suffering. When it is necessary to put an animal to sleep I always utter a word of prayer, taking full responsi- bilitp for the act.” theology sometimes is The Jacobs decid- ed to chloroform the animal to relieve its intense suffering. Finally it strug- gled over to the open fireplace and curled up in the warm ashes. Soon it showed signs of rallying and they concluded it should live. It did re- cover. The incident strongly remind- ed them of the fairy s of the little girl sitting in the nd who lat- er was able to wear the glass slipper, and the spotted hound became Cin- dereNa. Little Topsy once was owned by a woman of the streets whose precar. ious existence did not permit her to care for the pet. She brought Topsy to the Jacobs and up to the time of the woman's death she regularly came to visit the dog. Miss Jacobs told of a cat that saved their lives. A leaky gas jet had filled the house with fumes while they slept The cat meowed in vain and finally leaped upon the bed and ched Miss Jacobs to a waking position and a realization of their danger. Yarrow, a cat with an interesting carcer, was named after Mary Craize noted humane worker of This cat once was a nion of a little boy. The bhoy nd on the night of his funeral the animal wrried . away and locked in a tieight car bound for Arkansas. A fortnight later the cat returned home, nearly starved. The boy's mother took it to the Jacobs® home. Some of the animals of other days, especial favorites who had earned scme mark of distinction, are buried in the flower garden. There are no markers, s one border around an for Her- cobs’ life in brutally wounded. “brother”), mano had saved Miss J Texas when a big rattler was about to strike her. The dog pounced upon the snake and received the poisonous Lite. He became blind but lived many years. Asked about the cost ot pursuing their humane work, Miss Jacobs said it amounted to six or seven hundred dollars a vear. She insisted, however, that this did not constitute a sacrifice, that they derived pleasure from it and preferred to spend their money in this way, even if it forced them to give up many comforts, TTSCHLAND SUNG BY FRENCH DURING PRACTICE. ‘rance, June 18, (As- sociated Press —The former German supersubmarine Deutschland, which in 1916 slipped into Baltimore harbor from Germany, after running the DF Cherbours. auntlet of British and French cruis- z guard off the Virginia sunk by gunfire yesterday during target practice ; The submarine had served as a target for a series of submarine at- g periments. carried out by Capes, was This is the Way to Make a Bargain B’ Every Buy fedeteler Y advertised goods. Only good- goods, fairly priced can stand the spotlight of publicity. A merchant or manufacturer would not dare to advertise merchandise that is poor in quality, poor in make or that will not give reasonable wear. The penalty of such tactics is too heavy. No goods—and no business concern—can thrive under the weight of public condemnation. A merchant places the whole reputation of his business at stake every time he advertises. Natural- ly enough, he is careful of what he says and when his statement is placed in the newspaper—where evervone in town may read—so that any untruth in it will be known to all of his employes and most of his friends—then you may be sure he careful. is doubly ~ When you buy advertised goods you get a bar- zain because they must be as advertised. So it pays you to read advertisements. Advertis- ing protects you. Read the advertisements in this paper and get the best of the bargain. 4