COMPETITIVE CONDITIONS IN INTERNATIONAL TRADE. (Ki

‘The Irench Government threatened a few years ago to withdraw
the listing privilege from the Turkish state bonds unless certain contracts
 were awarded to French industry.?

SECTION 5. INDUSTRIAL ORGANIZATION.
INTRODUCTION.

A factor of great importance in foreign trade is the industrial
organization of the country engaging in such trade and of the counfries
 in which it seeks markets. The relative advancement of industrial
 progress and the effectiveness of organization strongly influance
 any country’s ability to extend its business activities into foreign
markets in competition with the producers located there or with
producers of other countries striving for trade there. Likewise, it
strongly affects the opportunities which other countries coming
Into its home market may have for trade there in competition
with the home producers. Thus the general organization of business
 and industry in Great Britain and the special organization for
foreign trade directly affect Great Britain's success in competing
with, say, Chinese and American manufacturers for the cotton-goods
trade of China. Similarly, the organization of industry, in general
and 1n particular, in Germany directly affects the success of American
 manufacturers in competing with German manufacturers in
such foreign markets as South America, for example, in electrical
goods. In respect, therefore, to the trade of the United States with
the relatively undeveloped markets, such as Latin America, China,
the East Indies, Turkey, etc., the business organization of countries
with which American exporters must compete is of obvious importance,
 which will increase as the demands of these markets grow.
It is of even more importance, however, in respect to the trade between
 the United States and the great commercial countries themselves.
 These countries are now, and will be for years to come, the
most important foreign markets for the United States. In 1913
American exports to the United Kingdom were valued at $600,000,-000,
 to Canada at $415,000,000, to Germany at $330,000,000, to France
at $146,000,000, to Italy at $76,000,000, to Belgium at $67,000,000,
and to Japan at $58,000,000. While it is true that the major part
of American exports to most of these countries, except Canada, are
foodstuffs and raw materials, the United States also sells to them
in the aggregate large quantities of manufactured articles. According
 to the official Annual Statement of Trade of the United Kingdom
 in 1913 Great Britain imported from all countries manufactured
articles alone valued at $800.000.000 for its own consumption. MantJ.

 Riesser, The German Great Banks and Their Concentration, p. 544; translation
rublished by the National Monetary Commission ; 61st Cong, 2d sess.. 8. Doc. 503.