Salt Lake Tribune | 1919-05-22 | Page 2 | Redfield Urges Business Policy

veloplng and stabilizing foreign trade under un-der the new conditions. G. H. Dorr, assistant director of munitions muni-tions of the war department, discussed the status of informal war contracts. He estimated that the total cost to' complete the portions of the contracts that are up for settlement would be $M,GUO,(K'0.000, but that claims expected to result fiom closing clos-ing of these contracts would aggregate Only $700,000,000. He said that the department has adopted a plan by which manufacturers, if they are willing to enter into a supplemental sup-plemental contract agreeing to a new basis of settlement, may receive payment for items as rapidly as they arc determined deter-mined or a lump sum equal to a substantial substan-tial percentage of their claims. BED URGES Americans Should Shake Off Hermit Habits, He Says. NTIVv YORTC, May 21. American business, busi-ness, now selling in foreign trade much more than it buys, must "shake off the hermit habits of the past," and welcome the offerings of foreign securities in United States markets. Secretary of Commerce Com-merce Redfleld declared today In an address ad-dress before the National Association of "Manufacturers. While squaring of accounts ac-counts with other countries would be possible pos-sible In a degree, by mans of services, goods and cash, Mr. Red field believed that the balance in favor of American interests would be so great tbf.t liberal purchases of bficurlties of these nationn would be necessary. The department of i-nmmerce offered itself, he asserted, to aid in de-