"Imagine ten large stores in one big city and one of these stores doing more business than all the other nine combined," declared Mr. Sanger, "and that will give you some idea of the position we are in today. It is an amazing record. We are now selling South American countries more than half of everything they import. Our total export trade is now counted in billions of dollars."
The commissioner said that "with the signing of a peace treaty a practical certainty within six months or a year, it is not a day too soon to begin making definite plans to meet the keen competition in foreign trade that must come almost immediately."
The hundreds of millions of dollars invested in new factories and ships, he said, mean that America must find fresh outlets for her enterprise and industry.
"We need more and better direct representation of our manufacturers in the important trade centers of Brazil and other South American countries," he said. "This may come about through taking the fullest advantage of the new Webb Export Trade Act or in other practical ways.
"We also need a fast and regular freight service to every important port of Latin America," said Mr. Sanger. "Without it we will be as crippled as a department store that depends upon casual messenger boys to make its deliveries. Then again we must be prepared to meet the actual needs of these countries regarding the extension of credits.
"The biggest single incentive to foreign trade is foreign investments." 