Show TOURIST TRADE AIDS FRANCE Purchases Pur Pur- Purchases Motor Leader Says Say's chases Exceed Exports From America Balance of trade does not measure the advantages antage that one country re receives re- re receives from froin Its economic relations re-I re with another and this fact merits thought In connection with a II commer commer- commercial commercial commercial cial treaty between France and the United States said Roy D. D ChapIn president of the Ule National Automobile chamber of commerce motor molar leaders In New York Goods may be sold to citizens of oJ another country In a way that h does fn not Ui show up In figures that tat BO go Into the balance of trade which after all registers only the more visible ex- ex exchange change of goods between bet countries Payments PI for shipping Insurance gifts gills and tourist and immigrant rev re- re remittances remittances are among the Items Hems that do not show up In the visible balance of trade between nations The United States may ship twice as much to France as she sends tends here and still sUI France may have advantages eS from other sources that far offset this condition continued Mr Chapin FIGURES MISLEADING On the surface It would seem that the United States has a great creat advantage ad advantage ad- ad vantage antage by being able to send goods to France to the amount of whereas France sends only worth of ot goods here It ap- ap thus at first sight whereas because these figures are arc recorded whereas other sales ISales of merchandise by Franco France to the U United States citizens are less visible Thus Americans may not buy a great deal of French goods while they ore at home but on the other oth r hand they do buy large quantities of wear- wear wearIng wearing Ing apparel Jewelry novelties and similar articles while In France They also pay p y for many services such as hotel ho ho- hotel hotd tel td accommodations food and other comparable Items spending for tor aU all these according to the French tourist bu bu- reau This Is 15 more than enough to offset the so-called so unfavorable vis vis- visible visible ible balance of trade of and still leave lea France leading by It Is quite evident e therefore that these tourist expenditures are en e more Important Import to ta France thin than her direct exportations exportation to the United States from these facts But even en en apart It Is becoming more clearly recognized that International trade does docs not result re result re- re result sult In an exact trade balance between two countries Any adverse eSe balance of one coun coun- country country country try Is necessarily offset affect either by In Invisible In- In Invisible visible items or by triangular trl sr op op 01 craU ns I i. i e e by transactions with other ether countries OTHER BENEFITS E The be heavy purchases by the United States of raw sIlk from Japan chem chem- chemicals chemIcals from Germany or hides and cof cof- coffee coffee coffee fee from Latin LaUn America promote a prosperous condition In those areas and results In to an enhanced purchasing power from which the export trade of France as well as of other nations derives benefits Purchasing power po for a given country's commodities may maybe maybe maybe be created Indirectly as well as di dl- dl The present situation between France Prance and the United States doubt- doubt l 1 lees u will wm be remedied when mutual benefits are viewed from all angles and nd it Is shown that advantages ad may accrue to a country from more sources than appear In the ordinary balance of ot trade |