International trade

“ In the so-called political economies of our forefathers we read a vast deal about the advantages to a country of having an international trade. It was supposed to be one of the great secrets of national prosperity, and a chief study of the nineteenth-century statesmen seems to have been to establish and extend foreign commerce.--Now, Paul, will you tell us the economic theory as to the advantages of foreign commerce? ”

“ Putting the issue roughly, but with substantial truth, the generally accepted image of international trade is one in which a number of trading communities, as, for instance, the United States, Britain, Germany, France, Japan, etc., are engaged in striving, each to win for itself, and at the expense of the others, the largest possible share of a strictly limited objective—the world market. ”

“ On the other hand, there are imports so entirely of foreign origin, and so free from considerations of competition with domestic industry, that a large revenue may be raised upon them in the custom-house, without disturbing the freedom or equity of international trade. ”

“ We must strengthen the organization of our trade agencies and make changes in our domestic laws and international trade policy to promote free trade and the increased flow of American goods, services, and investments. ”

“ It is in America's economic and national security interests to promote commerce by strengthening our relationships with our trading partners, vigorously enforcing our Nation's trade laws, improving the overall conditions for competition and trade, and ensuring the strength of our manufacturing and defense industrial bases. For many years, the United States has not obtained the full scope of benefits anticipated under a number of international trade agreements or from participating in the World Trade Organization. ”

“ A second general cause accounting for the world’s progress in commerce is political—the commercial policy followed by the leading nations of the world. Up to the nineteenth century, practically every country strove to promote its trade, navigation interests, and its power as a nation by means of the mercantile system,—a system of strict and detailed regulation of foreign trade by means of tariffs and navigation laws. Each country strove to determine the nature of its international trade, and endeavored to carry on its commerce in its own ships. ”

“ The United States is firmly linked with other nations in the global economy by mutually beneficial international trade. Exports now account for more than 16 percent of the total value of all goods produced in this country. ”

“ In a sense each country manufactures and produces for the whole world, and in turn expects the rest of the world to buy its products and to manufacture and produce things for its consumption. While something of this sort has always been true in international trade, the process reached during the nineteenth century an unprecedented development which actually made countries interdependent, or, if you will, actually dependent for the necessities of life upon each other's prosperity and continued activity. ”

“ Despite the high volume of our international trade, we still are far from matching the international sales efforts of our leading competitors. Only ten percent of our firms export, and only seven percent of our gross national produce finds its way into foreign markets-less than half the percentage of our major trading partners. ”

“ As we observe World Trade Week, 1996, let us strive to give our Nation's exporters every opportunity to sell products freely and fairly and help our companies to meet the challenge of exploring markets abroad. Their efforts to maintain efficient, high-quality production and to promote American goods and services to an international clientele will lead to a stronger economy and a brighter future for us all. ”

“ A highly unnatural condition has gradually developed in regard to the international relations of nations to one another. These relations increase with the growing production of commodities, with the increased exchange of commodities that is constantly made easier by improved methods of distribution, and by the fact that economic and scientific achievements are becoming the common property of all nations. Trade and customs treaties are made, and, with the aid of international means, expensive thoroughfares are constructed. ”

“ The subject of foreign exchange should be familiar, the fluctuations having an important bearing on purchasing power and trade, while exchange itself is dependent on foreign trade conditions, being an index of international transactions. ”

“ A danger to foreign trade is that our exports might conceivably be limited to certain quarters, and might thus rest upon a frail and shifting foundation. Fortunately, however, this is not so, for our commerce is being built upon the prosperity of the whole world. ”

“ The vulgar theory disregards this benefit, and deems the advantage of commerce to reside in the exports: as if not what a country obtains, but what it parts with, by its foreign trade, was supposed to constitute the gain to it. An extended market for its produce—an abundant consumption for its goods—a vent for its surplus—are the phrases by which it has been customary to designate the uses and recommendations of commerce with foreign countries. ”

“ Not content with exporting the various productions of their own country, they carry on the trade of various parts of the globe, which, but for their instrumentality, could not have obtained, or ever have become acquainted with each other's produce. ”

“ For certain purposes it is, no doubt, convenient to have balances and analyses of foreign trade presented separately, so as to show the volumes and values of different goods which pass from the members of one nation to those of another. ”

“ It is obvious that only those American goods which are exclusive or which require no tariff advantage can long compete successfully on even terms abroad with European wares, now sold by active enterprising business men determined to keep and increase their trade. ”

“ We have called upon other countries to open their markets to fair competition. We are working with our trading partners to launch a new round of multilateral trade negotiations by early next year aimed at opening markets worldwide. ”

“ If they were entirely separate, without political or commercial connection, it is manifest, that the consumption of the manufacturing states of foreign articles could not exceed twenty millions, the sum at which the value of their exports, of domestic products, and the profit of their foreign trade is estimated. ”

“ A consistent foreign policy, undoubtedly to be formulated and pursued by our able Secretaries of State and Commerce, will be of great service in relation to foreign trade and for our general prosperity.
To the intelligent sympathy of the country at large and the coöperation of the Government must be added the eager purpose of the manufacturer, and the interest of young men who will make of export trade their chosen field of labor. ”

“ Today one out of every six manufacturing jobs is tied to exports. So first, I offer a strategic trade policy, including new free trade agreements with the emerging democracies of Eastern Europe. By increasing trade we increase American jobs. ”

“ Our diversified productions, however, are increasing in such unprecedented volume as to admonish us of the necessity of still further enlarging our foreign markets by broader commercial relations. For this purpose reciprocal trade arrangements with other nations should in liberal spirit be carefully cultivated and promoted. ”

“ A large export trade with such a country would be a profitable and mutually beneficial business activity for an enterprising commercial and manufacturing nation, with broader business and politico-economic policies than are found in some of the European countries. ”

“ A very few great empires and nations today control the whole available supplies of many of the foods, fabrics, and metals, the shipping and finance, that are essential to the livelihood and progress of every civilized people. Are Britain, America, France, and Japan—and especially the two greatest of these powers—going to absorb or monopolize for their exclusive purposes of trade or consumption these supplies which every country needs, or are they going to let the rest of the world have fair access to them? ”

“ An unrestrained intercourse between the States themselves will advance the trade of each, by an interchange of their respective productions, not only for the supply of reciprocal wants at home, but for exportation to foreign markets. The veins of commerce in every part will be replenished, and will acquire additional motion and vigor from a free circulation of the commodities of every part. ”

“ Manufactures, as in a small bulk they frequently contain a great value, and can upon that account be transported at less expense from one country to another than most parts of rude produce, are, in almost all countries, the principal support of foreign trade. In countries, besides, less extensive, and less favourably circumstanced for inferior commerce than China, they generally require the support of foreign trade. ”

“ I shall now give a short sketch of the general principles upon which a system of foreign trade may be established and preserved as long as possible, and of the methods by which it may be again recovered, when, from the natural advantages and superior ability of administration in rival nations, (not from vices at home) a people have lost for a time every advantage they used to draw from their foreign commerce. ”

“ But do we, civilized beings, indulge in the absurd and barbarous notion that we must own the countries with which we wish to trade? Here are our official reports before us, telling us that of late years our export trade has grown enormously, not only of farm products, but of the products of our manufacturing industries ”

“ Our commerce is rapidly increasing, and is extending more widely the circle of international exchanges. Great as has been the increase of our imports during the past year, our exports of domestic products sold in foreign markets have been still greater. ”

“ But the great national policy of putting a duty upon imports is, that it either keeps the foreign trade in our own hands, or draws something for the defence of the country from every foreigner who participates in it with us. ”

“ The loss of our abnormal position in foreign trade will be a blessing if we exercise foresight. In the furtherance of the World-purpose it was necessary that the progressive nations should for a time worship foreign trade as a fetich, and as the chief means of prosperity. ”

“ No doubt that means hard work, an intimate acquaintance with the details of our industry and trade, an eye upon the proceedings of foreign countries. A modern tariff, if it is to be really suitable to the requirements of the nation adopting it, must be the work of experts. ”

“ Our overseas trade falls off greatly, because we need many of our merchan [8] t ships for transport and supply, because we cannot produce such large quantities of goods for export, and because we cannot trade with enemy countries at all. ”

“ Indeed, the only possible way in which all nations can share in the thrift and enterprise and improvements of each other, is through mutual international exchanges; and when each nation sees to it that it have a few commodities at least for which there is a strong demand among foreigners, and in the production of which themselves have a strong superiority, it may rest assured that it buys all it buys from abroad, gold included, at the cheapest rate to itself, and shares a part of the prosperity of every nation with which it trades. ”

“ Today, we are preparing for a new round of multilateral trade negotiations. Through those negotiations we will continue to press for open markets for the products of our manufacturing firms. We will also press for greater market access for the products of America's farms and the products of our fast-growing service industries. ”

“ In these great channels, the domestic exchanges represent an annual value perhaps twenty-five times as great as the total of exports and imports. It is the enjoyment of free-trade and protection at the same time which has contributed to the unexampled development and marvelous prosperity of the United States. ”

“ They possess a general authority to regulate trade with foreign countries. This is a mean, which has been practised to that end by all the principal commercial nations, who have trading companies to this day, which have subsisted for centuries. ”

“ In what measure the need of individual countries to obtain materials of production from other lands and to find new markets for their own products is responsible for the growth of international dependence. ”

“ We send school-books and machinery to China; she sends us tea, matting, and bamboo. The whole right theory of trade is a give-and-take between men and nations, based on a just price, and with a deep law of Value, not yet wholly formulated, underlying each transaction. ”

“ It is my firm belief that the next period of history will see a slowing down in the international exchange of manufactured goods, and that most countries will have to restrict their imports because their exports are not wanted on the same scale. ”

“ In the course of this communication reference has more than once been made to the policy of this Government as regards the extension of our foreign trade. It seems proper to declare the general principles that should, in my opinion, underlie our national efforts in this direction.
The main conditions of the problem may be thus stated:
We are a people apt in mechanical pursuits and fertile in invention. We cover a vast extent of territory rich in agricultural products and in nearly all the raw materials necessary for successful manufacture. ”

“ The work will afford a comprehensive picture of American productiveness, like similar works issued in Germany, Austria, and Italy, to the acknowledged benefit of the export trade of those countries; and our own export trade, which is capable of much greater development, cannot fail to be greatly benefited by the successful execution of the scheme. ”