Show i OUR PUBLIC FORUM F C howe on the advantages of free ports porte mr P F C lione howe federal commissioner of tion who la is one of the best american authorities on marine commerce in discussing the relation of freo fre ports to the development of BOB bea trade said bald in part I 1 ships will go hundreds of miles out of their way to void avoid ports surrounded rounded eur by a tariff wall the only way therefore for i country with a tariff to compete in the 61 hipping world ak with ith a free trade country to la to establish free ports at points along its coast line germany has done so BO and in a comparatively short period has built up a ca irine trado chich before the wai aal was seriously threatening En england glands s supremacy supie macy hamburg Ilam barg one of the three german freo free ports now ranks ns as the second seaport ila the world orld its total foreign commerce in 1913 being only 6 under that of 0 new york the free port would off offer or great opportunity for financial operations now made possible by the recent currency net act it mould stimulate international banking and would mould tend to shift the financial center of the world to abi this countr counte and america by the logic hoglo of edento ants has baa become the natural center for the world a financing just as london became that center several centuries ago when it shifted from the cities of the netherlands but the ni financial lancial center will only moo moe to this country when it becomes a clearing house ot of goods as well as of rione for credit the world over Is created by currently created wealth in transit or change so BO that our financial expansion la Is dependent upon tha opening up of american ports to the clearance of the wealth of the world A port should not operate to yield a return on the investment tit to develop the I 1 erity of the countr in recapitulating the aan adan an mr air howo hove brings brines out tho the importance of the free port in developing our shipping and linking us with america asia and africa and then con eludes I 1 the most important gain Is the direct gain to america it will ill cheapen commodities by bringing great quantities of goods to our doors for importation or export as trade needs demand it will ill stimulate the growth of export ling houses which can an bold goods for an indefinite period without payment ot of tariff dues often equal to the cost of the article itself for disposal to meet the trade demands of the whole world it will mill international credit and shift to america an increasing and ultimately a predominant share la in international exchange finally america Is the natural country to be tho the counter of the world tits sea seacoasts coasto face eiery aery other continent it Is the greatest of all reservoirs reser volra of raw materials materi alB and foodstuffs in lion and steel and standardized production it in IB in a position to compete with the world but international trade band and this la im always overlooked must bp bs reciprocal it cannot be one sided and credit balances cannot for any prolonged period be b paid in gold cold they can only be paid by exchange of wealth |