Show MERCHANTS IN TALK SHOES SEALING WAX W AX Serio Serious Ious liS Discussion of Wa Ways fays S and ami Means of l Expanding Expanding- American l Trade Develops at Convention Held Heldon on oil Board Liner i liE good ship Lapland ot the of-the T THE White While Star line lIno holds the unique distinction o of having carried as a apart apart apart part part part- of or Its cargo on a n. recent t westbound westbound west est bound voyage acro across s the tho Atlantic a areal areal areal real If Jt unscheduled foreign trade trado convention con con- international in Its scope ac according according ac- ac cording to the Xe New York Tribune It was the first floating J assemblage of oC tho the kind on record It was a regular convention too according to Uni ed cd Stat States s Trade Commissioner Chauncey Chaunce Depew Snow at nt London with a chairman chairman chair man as prominent as e ever graced such an occasion on te terra ra firma When the Lapland sailed f from om New NewYork NewYork ew York and January 25 5 5 last she carried on her list first class passengers most of oC whom we were c prominent AmerIcan American American Amer Amer- ican business men and bankers Included In Included In- In In the personnel we were e a former secretary secret o of commerce and labor of the United States Slates a minister of or labor from Aust Australia an official American labor commission There we were e also manufacturers rs and exporters of ot cotton colton and textiles lumber canned goods copper Iron and steel railway equipment petroleum seeds leather boota boots and shoes shoo shoe findings tannins tanning materials material a agricultural and other machinery machinery machinery ma ma- chinery and publishers life liCe In insurance urance men motion picture producers and advertising advertising ad ad- men A few days out of oC New York saw law the business men In various lines gutting together together- In Informal groups and discussing discussing discussing dis dis- cussing the p pressing problems of ot the day I finally reached such sucha a 1 stage tage ta o that somebody decided It was vas an opportune time lime to hold a convention on matters pertaining to Cor foreign trade 51 Mr Ir r. r Chairman Accordingly I on J January 30 10 30 when hen the Lapland was wag re reeling lIng off oft the knots In mid Atlantic the convention was wasI convened In the salon Katon of the ship Prank I-ank A A. A president of or the I National City Bank of or Now New cw York was escorted to the chair by former tary tart of or Commerce and Labor Oscar Straus I Mr remarked on scanning the list of or those thao who III signed up to parI participate participate par par- In the convention that ne ho had bad I been impressed by the predominance e of or exporters exporter lIe He porn pointed led out that In Inthe Inthe inthe the United Sta States Slates s there had been i R a tendency to regard for foreign trade a as selling something abroad as S referring only to exporting and to overlook the theother theother theother other end cud of oC our foreign commerce commerce- Importing Tie lie stressed the Importance Importance tance of or realizing that the export half of or foreign forein trade would never permanently permanently perma perma- amount to much until the import Im Import Im- Im port hat half Is developed de also When hen a debtor nation Americans could coul 1 afford l to look at It t differently ho he said but the war has changed that situation and nd toda today as aR a creditor nation with billions It It t the United Stales States I 1 In order to sell goods abroad must take lake t foreign goods In payment I I Tho opinion was expressed b by the thc chairman that the big bit party parl of men crossing to Europe on the ship was waR tho forerunner of or an endless number of oC shiploads of bu business men from America It was a good thing for tor tho the business men of oC this country to go JO to England he said to study what the tho British government and the B British business men had worked out and were thinking ln- ln and doing Labor Situation Topic Harry I. I Thayer of or Boston a member of or the shoo shoe and leather commission and president of or th the tho New England Shoo Shoe e I and Leather association spoke about American conditions In tho the H which ho he represented R It J. J Caldwell and Dr Royal Meeker told the gatherIng gatherIng gather gather- Ing Rig about tho the things that the Amerlean Amer Amer- lean can labor commission hoped to Investigate investigate I th at I In Europe Europe Mr fr Caldwell char char I labor lallor as UI the heart of oC our foreign foreign for tor I eign ehn trade future and ami stressed the Im Importance importance im- im po tance of or better operation co-operation Jm j be be- be en labor and Industry If we are t to tU o have a great roat foreign trade In manufactured manufactured manu goods I The Tho lion Hon G G. G S S. S Beebe minister o of f labor from Crom Now South Wales Vales Aus Aus- who had be been n studying Industrial Indus trial conditions In the tho United States was on his wa way to ln England lantI to make a similar r Investigation He lie describes described 1 Australia's experiments In labor matter matters mat mat- ter terl and said ald that a s L system had been bee n l finally l work worked cd out to assure ever every evry y worthy citizen a a reasonable standard d of er comfort This fundamental Idea o of or f giving labor a definite detinUe and ana satisfactory tory status had pro Yen helpful during the war ar he said and prevented Industrial Industrial Indus Indus- trial strife from assuming serious proportions proportions proportions pro pro- portions In n the island continent The opinion was expressed by Oscar Osca r Straus traus that In conducting our commerCe commerce commerce com com- merce In n exports we will have hae o met meet t l keen foreign competition He tic referrer referral l I to the material and the th tabor labor uP aspects aspect of ot the tho question and said sahl that to meet t t L competition b by cutting down costs COts the tin L' L cutting must primarily be on In the material material ma ma- tilde side and that rents food tood p prices price s s and oth other r elements necessary to the tin e Physical comfort of ot tho the laborers mug t I 1 I I I I l f l l I he ho brought lower before there should be an any cutting of wages Foreign Trade I At a general session of tho the convention convention convention conven conven- tion on Sunday Sunda J February 2 Mr Ir Van Van- spoke at length on tho the financing of oC our our- fore foreign n trade and on request concerning the extension of or the comme com commercial corn com me mercial service departments of the foreign for branches and agencies of or American banks Mr Ir drew a distinction be between between between be- be tween the tho banking services lct er involved in financial export shipments and the broader question of or the necessity of ot American Investments In In foreign undertakings un- un J In order to te provide pro tho the basic credit for trade with Industrial 1 I regions that lack goods and gold to pa pay for the exports which which wo w ve ma may ship to them He lie pointed out that It Is not a banking function to attempt to finance trade In this sense sense sense-It It Is hero th that t i American Investors must ronie In nn and J j jan an American market must bo be I for the hl high grade h. h securities of or I foreign enterprises He lie referred tl to the proposed formation of or American In Investment Investment In- In I vestment companies which should specialize spec spec- In the tha purchase of oC such foreign 1 securities and then Is Issue ue their own se securities securities se- se e- e against such foreign holdings for or sale to American Word ort for tor Consular cr en let Ice When hen Mr referred to the proposed extension of or thu the commercial information service of the American banks a brief C debate was waR provoked pro ad as asto to whether It was proper for private concerns to undertake such service j or I whether It t should be bo left open to the government government-e. e. e g to the consular service and the tho bu bureau eau of oC foreign and domestic comme commerce c cS S me business men who apparently knew nothing of the de development of or ortho tho tiro Ame American official trade Information service cr in the tho last decade Mr Ir Snow writes deplored tho the fact tact that we c had hadan hadn an n Inferior consular service ser and department de do- of or commerce and paid paltI the usual tribute to the mythical colossal development Of f C such services H Ices In n German Germany Ger Ger- man many many- Of course as has boon been acknowledged acknowledged acknowledged edged time and again officially and unofficially lIr In to I England and abroad al' al oad and a as Is generally recognized In the United States Slates b by those who know J the facts fuels our consular and commerce services ser compare very favorably with those of oC the other m most st advanced commercial com corn mercial nations nationS' although h there thero Is ad admittedly admittedly atI- atI room oom for Improvement Our government services serviced In n the tiro matter of oC trade Information found rc ready d supporters supporter amon among the exporters on n bOl board d. d who testified to tD their excellence excel excel- lence lenee and practical character and the conclusion of ot the tho discussion was a that In any event there here was room fur Cur aUthe all aU the trade info Information matter services that the government and ancl the banks and other private ate or semipublic or organizations could give There ar ar amu lines of oC service lee I credit information for example which tho the banks are In a better position to give than government offices and It Is 15 Ison on such lines that the banks can prove pro most helpful I |