The Daily News. SATURDAY, APRIL 9 1921. AMERICA’S TRADE OFFENSIVE.

Taranaki Daily News, 9 April 1921, Page 4

The Daily News. SATURDAY, APRIL 9 1921. AMERICA’S TRADE OFFENSIVE.

The report, emanating from Washington, that Mr- H. C. Hoover (Secretary of Commerce) .is conferring with prominent American business men relative to a Far East trade offensive, indicates that no efforts are to be spared in the efforts to capture the markets of the world. Hitherto this Work has been in the hands of individuals, combines and trusts, but it would seem that the Government is profiting by Germany’s example, and backing up the traders, encouraging them to organise on an unprecedented scale, and ready to protect their enterprise by safeguarding the local markets through the medium of the Customs. It would also seem that the Consuls selected to represent American interests throughout the various countries of the world are real hustlers of the front rank, who will pave the way for operations on a large scale. According to a recent cablegram one of the first features of America’s trans-Paeifie organisation will be the establishment of a system of warehouses for the sale of machinery in China, Japan, Australasia and India, and it is also stated that an effort will 'be made to supplant British firms in the cotton and cloth trade, besides establishing new shipping lines and making heavy investments in Australia, New Zealand, China, Japan, and elsewhere, and building large wireless stations. America has a plethora of gold available for a huge enterprise that is designed to reap rich yields. That money makes money when wisely used is well-known, and as America has chosen a particularly- favorable time for launching a gigantic trade offensive, there appear to be reasonable prospects of success, espeaialte in view of the labor and

other troubles affecting Britain and other competitors for the world’s trade. At the same time it is scarcely probable that Amer-, iea will have matters all her own way, or that the other manufacturing and producing countries will refrain from pushing their own goods. So far as trade within the Empire is concerned, the principle is as admirable as the sentiment from which it springs, but experience has proved there is no assured place for sentiment in business matters. The two outstanding requirements are that the goods supplied shall be as near as possible those which suit 1 the markets in each country, and that the price shall be favorable to the buyers. It was by giving I these two essentials practical recognition that German trade grew and flourished, and the subsidies, together with other aid furnished by the Government of that country to foster trade, proved highly remunerative investments. At the root of the trouble America is raising over the Yap and Mesopotamian mandates is the trade question, and it shows plainly that the United States is obsessed with the desire to monopolise to the utmost possible extent means for supplying the world’s markets and protecting her own. At the present time Britain is in greater need than ever before of increased production by and employment for her workers, but, unfortunately, they do not realise the effect their selfish policy must have in preventing the expansion of trade. They would sooner the great industrial and commercial activities that have been built up during the last century should pass into alien hands than they would make a temporary sacrifice to tide over a fateful crisis. If labor conditions were favorable, Britain, assisted by the Dominions, would have a far better chance than America to cater for the world’s requirements, and then would come golden times for the workers. Without doubt Britain should make a supreme effort to compete against Ariteriea on lines suitable to pre-sent-day demands. If the United States builds up a hostile tariff against imports from the British Empire there would probably be retaliation, but the main point is that the time has arrived when Britain should organise even more thoroughly and effectively than America, for tl’ade is the life-blood of the Empire- It can be done, while if the opportunity is neglected much injury may result. The Dominions might well press their obligation ort the Home Government, and offer their hearty cooperation in all efforts to advance British trade and commerce. America cannot be blamed for entering on a trade offensive. The response should be practical and determined.