PREFACE Beneath the thrilling and spectacular military campaigns of the war, a silent economic process has been changing the character of the commerce of the world. Profound changes were taking place, the analysis and presentation of which have not yet been attempted. To what extent was trade unrestricted before the war? Was Germany denied the freedom of the seas commercially? Did trade increase all over the world or only in particular routes of trade, and why? How did Europe, under the blockade, meet its demands for goods? Where did the countries of the Far East, of South America, and of Africa obtain their supplies, when the shortage of shipping during the submarine campaign practically isolated them from Europe? How was the transshipment business between the international jobbers of Europe and the overseas countries affected? To what extent did trade between neighboring countries increase? How did the war affect commercial policies? Did nationalism or internationalism grow as a result of the war? What are to be the after-war policies of the belligerents? These are but a few of the questions that have been raised concerning the effects of the war on international commerce. To trace these changes in detail and to discuss the principles involved is the aim of this book. It constitutes a recital of some of the facts of recent history, essential to the formation of a new perspective, from which American merchants and bankers must view the new problems and responsibilities that have been thrust upon them. More than ever the American business man needs to think internationally, if he would adjust himself to a world so different from the world of 1914, and if he would worthily lend his aid in guiding it through these troubled times. This book is a sequel to "Labor and Reconstruction in Europe," and like it treats of the situation abroad. Unlike the treatment of the labor problem, however, the present discussion takes a definite stand on the issues presented. It supports a liberal trade policy and favors the consolidation of those commercial gains of war time, which would have accrued to the United States in the course of time, such as the diversification of industry and the lessened dependence upon foreign countries for essentials, like optical glass and dyestuffs, and for ocean transportation. In order that it might appear in time to be of practical value, the book was written under pressure. It was therefore especially in need of careful reading of manuscript and proof. For this service I am deeply indebted to Dr. A. M. Sakolski, of the Equitable Trust Company of New York, to Dr. Frank R. Rutter and Mr. J. J. Kral of the Department of Commerce, and to Mr. O. Wilson. Mr. Wesley Frost, of the Foreign Trade Adviser's Office in the Department of State, and Mr. O. P. Austin, of the National City Bank of New York, have kindly offered some suggestions. The assistance of Miss Anne G. Cross and Miss Charlotte L. Carmody, librarians of the Department of Commerce, is acknowledged. August 5, 1919. THE AUTHOR. |