FOREIGN TRADE OF TEE UNITED STATES 2>n 



often expressed that France is able not only to finance its heavy public 

 expenditures, but loan hundreds of millions of dollars abroad. This is 

 explained by the economy of the people there, who save the three cents 

 a day that we waste. 



When discussing commerce it is necessary to speak at length of war, 

 as it is the greatest enemy of trade. The dark cloud of war still rests 

 over us, with no sign of breaking or lifting. Many of our factories are 

 closed or working short time, and there are hundreds of thousands out 

 of employment. Our goods are needed abroad, especially in Latin 

 America, to take the place of those formerly supplied by the warring 

 nations; we need their orders to start up our wheels of industry, and 

 some means must be found to secure them. Export markets are neces- 

 sary to economical manufacture, as they lower the unit cost of produc- 

 tion, as our total domestic trade will only keep our factories running 

 about two thirds full and the profit largely rests on the remaining third. 

 Export work, therefore, can be done cheaper than domestic trade. Al- 

 though we have the advantage in raw material and can compensate for 

 higher wages by increased efficiency, we have had to compete with nations 

 that have made foreign trade a study, who have a better merchant 

 marine than we can ever have under present restrictions. We must com- 

 pete with nations that encourage business, the bigger the better if law- 

 fully conducted, instead of persecuting them as though success was 

 criminal rather than a proof of merit. The political opposition to those 

 who succeed through ability must die out before we can hope to perma- 

 nently hold the lion's share of export business. 



FOREIGN TPtADE OF THE UNITED STATES 



By DUDLEY BARTLETT 



COMMEECIAL MUSEUM^ THILADELPHIA^ PA. 



THE old maxim "in time of peace prepare for war'' has a new 

 meaning and a new application. The situation created by the 

 European conflict has emphasized the necessity for preparedness to meet 

 emergencies which may arise, affecting the commercial requirements 

 and financial conditions of countries whose trade we seek. 



Many a country whose usual sources of supply have been cut off and 

 in which we might find a new market for the products of our factories, 

 is terra incognita to a large number of our manufacturers, and valu- 

 able time is being lost and false moves will be made because of the 

 altogether too nearly universal ignorance of the conditions, needs and 

 business methods of important commercial centers abroad. And there 

 is really no excuse for such ignorance. 



Twenty years ago a manufacturer had few aids to the acquirement 

 of such knowledge. Information regarding the local demands, the 



