Excerpt from Theory and Practice of International Commerce
"Theory and Practice of International Commerce" is intended as a scientific outline of the merchandizing principles in export and import. In its theoretical portion it aims to suppl) the teachers and the students in American colleges with a logically built-up course of instruction, and the business world at large with an exposition of those economic principles which are responsible for the development of modern methods in exporting and importing for the evolution of the present-day sales machinery in international commerce, and for the establishment of that vast body of unwritten commercial law known as "commercial usage."
In Part II ("Problems of Modern American Export Practice") the author does not attempt to deal with elementary lessons and hints on the subject of export routine, qualifications of salesmen, packing methods, etc. It may be assumed that all practical exporters and importers are familiar with such A.B.C. matters. An attempt to cover the entire range of these topics in one volume is doomed to superficiality in the very elements in which their discussions would be serviceable: their detailed treatment, with illustrations, is possible only in intense specialized study units. The present volume adopts the plan of a detailed analysis of a few selected practical problems in which a changed outlook, due to the developments of recent years, calls for a thorough presentation. These problems include foreign credits and the evolution of modern banking facilities; commercial laws and regulations affecting incorporations abroad; the value and the correct use of sources of information at home and abroad, and the proper sphere and development of official and associational trade promotion; finally the rational methods of modern publicity. All the other practical matters bearing on international commerce, by the way, are incidentally referred to throughout the volume insofar they affect the rights and obligations of the vendor and the buyer as parties to international sales contracts.
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