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FOREIGN TRADE

As Promoted by the

WEBB-POMERENE and EDGE ACTS

With Historical References

to the
Origin and Enforcement of the Anti-trust Laws

Ву
WILLIAM F. NOTZ, PH. D.
School of Foreign Service, Georgetown University

and
RICHARD S. HARVEY, PH. B.
Law School and School of Foreign Service

Georgetown University

INDIANAPOLIS
THE BOBBS-MERRILL COMPANY

PUBLISHERS

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1

THIS BOOK IS DEDICATED TO

EDMUND A. WALSH, S. J., Ph. D.,

FIRST REGENT OF THE

SCHOOL OF FOREIGN SERVICE OF GEORGETOWN UNIVERSITY

IN RECOGNITION OF HIS DISTINGUISHED SERVICES

AS PIONEER

IN ORGANIZING THE FIRST DEPARTMENT

OF AN AMERICAN UNIVERSITY

DEVOTED EXCLUSIVELY TO TRAINING MEN

FOR OVERSEAS COMMERCE,

“To cherish and stimulate the activity of the human mind, by multiplying the objects of enterprise, is not among the least considerable of the expedients by which the wealth of a nation may be promoted. *** Every new scene which is open to the busy nature of man to arouse and exert itself, is the addition of a new energy

to the general stock of effort."

ALEXANDER HAMILTON.

PREFACE

In meeting the new situation that confronts the United States as a leader in world-trade, Congress has made a notable contribution through legislation directed to the promotion of American foreign trade. Two legislative acts in particular stand forth as mile-stones in the advance toward the goal of larger activity in the foreign commerce of the United States, viz., the Export Trade Act (Webb-Pomerene Law) and the Edge Act. These measures demonstrate a national realization of the essential requirements of trade with foreign lands, and denote a fixed determination on the part of our government to protect and foster the efforts of its citizens in their dealings in overseas trade.

These laws are of such tremendous importance that they have aroused widespread interest not only in this country but in foreign lands as well. Many business men already are actively availing themselves of this new trade machinery, while foreign governments, recognizing the merits of our foreign trade policy, are employing it as a model for legislation to accomplish similar ends.

As these laws are of vital interest, an earnest demand has sprung up for information as to their origin, meaning, practical operation and ultimate effect.

Thus far the available information has been scattered, much of it being inaccessible to the business man, the lawyer, librarian, banker, exporter or to the student who plans to enter the foreign service field.

Universities, law schools and schools of commerce, which have instituted courses of foreign trade, have been handicapped by

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