18 



HARDWOOD RECORD 



the Brnerj.l nlOuoDt conJition in the farmiiiK rt'cidiiK will U- Irr 

 mvtiilouN mill will i;u n long wn.r townnl ro cwluliliHliinK koiiitiiI |>ruH 

 jK-rity. 



Tliorp now nrrtiin «o Iw ovrry ifiinoii to liojip fur tliin romliliuii lo 

 niatrrinliu>. The nituution in tli<< rottoii iiUtcK in tint Boiitli run 

 tinuni to bo MTiouc, but it in nndorxtuod tliiit tliiTo \m» iH-fii nonic 

 little inovpiiiont of rottun iiliroiul, imrtiriiliirly to tlii> KncliHli innrkt't. 

 Thin niovcniont of rourn' woiil.l not Ik- iinywhcrc nciir norniiil, iiii'l 

 nt U-nt it in not prolmMf tlwit llii> cotton Htiitcti will niwt »Tit!i n 

 ttit-at Hinount of iiro.>|nTity this year. IliiwoviT, the Hitunfioii will 

 vory likcljr turn out to U- not no Bcriiius no tin- i>roH|>4>tt.s :it first 



The Cover Picture 



T. MITt'HKI.I- IS Tin: lllCIIKST I'(»1NT 

 Statt-s onst of tin- Mi^^i^^il.|.i 



MT. MITt'HKI.I- IS Tin: lllCIIKST 1'(»1NT in tlu- I'niU-.l 

 Stati-s onst of tin- Mi^^i^^ill|>i rivrr. U liiid lonK lioi'n known 

 to wliool rliildrfn who 8tUiliod jicodrHidiy und to n few wiiyfiirorH 

 who Iiii5!«fd through tin- piirt of North C'nrolinii wliory that moun- 

 tain forms n conspicuous landninrk for all the country round, l)ut 

 until n few ypam ago thoro wnn little KcnornI iiitx-rest in tho nioun 

 tain mill its surroundings. 



Circumstance* are now producing a change, and the Mt. Mitchell 

 region is Uvoming more widely known. The chief cause of this 

 change is the purchase and organization of a national forest there 

 by the United States government, under the administration of the 

 Forest Service. This has called public attention to that part of the 

 southern Appalachian ranges. It has done more than that. Access 

 to the scenic jtortions of the mountains has been made easier by 

 the trails and roads which the government has built for the purpose 

 of carrying supplies to the rangers who have charge of the forests. 

 All such paths and roads are open to the public, and many people 

 now go there who before would not think of doing it. 



The picture carried on the front cover of this issue of Hardwood 

 Rkcokd does not show the mountain itself, but one of the roads 

 leading to it. The appearance of the bit of highway shown in the 

 picture does not indicate that it is one of those built recently by 

 tho Forest Service, but rather one of those old, rough, dreamy 

 country highways which were built too long ago for any living man 

 to remember, and over which generations after generations of moun- 

 taineers have come and gone in the transaction of their local affairs. 

 Boads like this may be lonesome, but they are interesting, where 

 they wind up grade and down, and mile after mile through forests 

 with scarcely a tree missing. It is a har<lwood belt, and, by the way, 

 it is part of the largest hardwood tielt in the United States, and 

 in size it is surpassed by only one known belt in the universe — the 

 belt of Jupiter. 



The picture is a summer scene, at the full of the leaf. The tree 

 crowns are luxuriant That was probably in July. At the present 

 >-oason, late in September, the autumn colors have come, and the 

 Mt. Mitchell forests are decked in surpassing glory. The green has 

 -one, and red, scarlet, and crimson predominate, but there are tints 

 and shades of every tone known to the artists, and hundreds of 

 others which even Turner never caught because he never saw them — 

 he wa-s never among the mountains of North Carolina. 



Opportunities and Responsibilities 



OM; \1;KV I.MI'OHTAN'I' point in coniMicriial economy should 

 \ye borne constantly in mind by all persons who are planning 

 to increase their exi)orts to foreign countries, namely, that goods are 

 paid for with goods, and not with money. That is the law in its 

 broad application. There are minor exceptions and exclusions. If 

 we sell products in a foreign country we must buy from that country 

 products of nearly tho same value, or the trade cannot long continue. 

 Beduced to its simplest terms, foreign commerce is a swap. If we, 

 as a country, sell more than we buy, the balance of trade is said to 

 be in our favor, and the foreign country pays the difference in 

 money; if we sell less than we buy, we pay the difference in money; 

 but if our sales to and our purchafes from that country are of equal 

 value, it is an even exchange, and no money is needed in the trans- 

 action. 



II is well to iH-nr this in mind while nceking to And mnrkotjt for 

 (Uir surplus pruilurtH in countries from which tlio I'nitoil Sl-itcn buys 

 little. No large liusinu»H ran be built up and long muintjiini'd with 

 such n country. It raunut afford to pay cash in large ainuuntii year 

 lifter year to balance accounts. Knglmid's wealth wan nnnle priu 

 I'ipally by puichasing raw materini from other ruunlrii>s nn<l selling 

 them the llnislird product nfter mnnufiKture. It was the proflt on 

 manufiicturing which made Knglaml rich. Halnnce* of trade, too, 

 have generally l>e<'n in it« favor, and thia has asiiured n constantly 

 inflowing stream of money which in course of time nrcumiilntej in 

 largo sums. 



Just now United States manufacturers arc sraiiniDg th.> whole 

 world for markets, to make up losses caused by the Kuropenn war. 

 It is proper to do this; but the campaign for markets muH include 

 buying as well as selling. Dtlier jieoples cannot trade with us on 

 an adequate scale unless wo buy what they have to sell — that is, 

 exchange products with them, swap what we have to spare for what 

 they have to spare. 



Take a concrete ease. Soilth America is a favorite field now for 

 trade hunters. Some persons, who do not understand the underlying 

 natural laws of trade, suppose that since Germany is now so un- 

 fortunately situated that it must temporarily give up its South 

 American business, all we have to do is to furnish the articles 

 !ind step in and take Germany's trade in the continent to the south 

 of us. We will have a great deal more to do than simply step in 

 before we take Germany's trade in South America, We must not 

 only sell what Germany s-old there, but we must buy what (lerniany 

 bought there. Are we prepared to do that! If not, it is idle to 

 count on any great expansion of trade in that direction by cap- 

 turing what Germany had. In 1912 Germany sold in South America 

 goods worth $166,820,000. Its jiurchafcs were approximately the 

 same. Can we increase our jmrchases there by that amount f If 

 not, we cannot get that trade. 



Doubtless great opportunities to extend foreign trade are now- 

 open to the people of the United States; but let no person be 

 deceived into believing that opportunities and responsibilities do not 

 go hand in hand, or that we can sell our products without buying 

 something of api>roximately eiiual value in return. If we sell lum- 

 ber in Greece, we must buy Greek currants; if we sell furniture in 

 .\rgentina, we must purchase hides in that country; if we fell tea 

 boxes in China, we must take our pay in tea; if we sell garden tools 

 at Tampico, Mexico, we must be prepared to buy the early tomatoes 

 grown there. Thus it is everywhere. Foreign trade, considered as 

 a whole, is a swap. We could sell a thousand barrels of gum drops 

 a year to the Eskimos but for the fact that they have nothing to 

 sell to us in return, and cannot jiay for our product. If they could 

 increase their catch of walrus teeth, the trade could be consummated. 

 Thus it is the world over. 



Unfair and Unpatriotic 



INASMUCH AS I'ATHIOTIS.M CONSISTS I'lU.MARILY in doing 

 unselfishly that which is to tlie bi-t interests of the country at 

 large, the attitude of the bankers practically throughout the coun- 

 try is to be severely censured. The opinion is pretty freely expressed 

 and has been for some time, that the banks instead of doing their 

 utmost during the present trying times to assist legitimate industry 

 and business, have been withholding credit and where money is loaned 

 have been charging such rates of interest that new developments 

 have been seriously restricted. 



It can be readily appreciated that in the adjustment of conditions 

 in this country to meet new requirements and developments calling 

 for the production of new materials, new articles of commerce, there 

 will be an excessive interest created in founding new industries which 

 will result in the awakening of activity in a variety of lines Intended 

 to meet the demand which heretofore has been filled by manufacturers 

 in foreign countries. Of course the essential thing in a development 

 of this character will be ample credit and ready resources to meet 

 obligations incidental to the opening of any new enterprise. 



That the bankers have been in a position to be of great assistance 

 goes without saying. There has been plenty of money available 



