s prospective
customers.

3. It cashes accounts receivable.

4. It makes advances against merchandise for
the account of mill, converter, or jobber.

5. It finances merchandise and raw material requirements,
and current operations.

6. It deals in acceptances, specializing, of course,
upon paper arising out of transactions in the
textile industry.

7. It maintains an Industrial Department, which
includes:

(a) the services of a consulting architect, expert
in mill construction.

(b) the services of a production engineer,
skilled in the laying out of plants in the line
of greatest efficiency, and in diagnosing
and correcting the production mistakes
of an inefficient mill.

(c) information as to the newest mill practice,
which it is ready to provide for its
clients and others.

(d) readiness to assist customers in the expansion
of their business either by financing
new mill construction or by providing
sales representatives in other countries.

(e) maintenance offices abroad, either for the
buying or selling of textiles or equipment,
or raw materials, or for the complete and
direct financing of such transactions.

CHAPTER VI

American Cloth in Foreign Markets

We have seen that the American cotton grower supplies more than half of
the world's demand for raw cotton. The cotton manufacturer in the United
States is in no such position. This is not to say that American cotton
goods are not exported in very considerable amounts. From the inception
of the industry in this country varying percentages of the total product
have been sent abroad. The following table, taken from the United States
Statistical Abstract (1910) shows the average annual exports of cotton
goods for the five year periods named, expressed in millions of dollars:

_Uncolored _Colored
_Total_ Cloth_ Cloth_ _Other_
1856-60 $7.5 $2.4 $2.3 $2.8
1861-65 3.7 .4 .9 2.4
1866-70 4.1 .9 .3 2.8
1871-75 3.1 1.7 .6 .7
1876-80 10.0 6.1 2.6 1.2
1881-85 13.0