of at least two million dollars may establish a branch in any foreign
country with the consent and approval of the board of directors of the
American Reserve Bank.
COMMENT:--If we hope for our share of profit upon our foreign
trade and if we hope to secure for the American merchant an equal
opportunity in securing that foreign trade, we must prepare here two
aids: one is banking facilities and the other is shipping facilities.
Is it not perfectly clear that a foreign banker would do anything in
his power to divert all the traffic he could over the shipping lines
of his country? We shall find in the end then that our foreign trade
will be aided not by our foreign bank alone but by American shipping
as well.