Foreign Trade

James A. Farrell, U. S. Steel President, has for 30 years been preeminent in sending American business across the water. Last week he invited nearly every financial and industrial group in the U.S. to associate itself with the 11th National Foreign Trade Convention. It will be held in Boston, June 4-6.

Said Mr. Farrell:

"The foreign trade of the United States for 1923 averaged more than $26,500,000 for each working day of the year. Exports alone averaged $13,880,000 per working day. Imports were over $12,600,000 a day.

"Almost two-thirds of these exports were the manufactured products of American industry. More than half of the imports were raw materials required in the manufacture of goods for home and foreign consumption. The Department of Commerce report for January shows imports valued at $299,000,000 against exports amounting to $394,000,000.

"These are the facts that offer inspiration and encouragement to American foreign traders. They indicate opportunities for further extension of foreign trade. . . ."