Evening star. [volume] (Washington, D.C.) 1854-1972, 1899-01-14

~ Argentine until it has
II yISN H. closer commercial
ZySy N ~ connections. There
tit-ss& a. two things that
Tt&SA2 should be established
at once. One is an
$500 American bank in
49, Buenos Ayres and
the other a line of
steamers from New
York 10 the Argentine calling at the differ
ent ports of Brazil and Montevideo and
making rapid trips from one continent to
the other. Both of these institutions would
pay well. The bank would pay at the start.
Ihtre are now more than 81 900 900 worth
OF exchange between Canada, the United
States and the Argentine, and our trade
with the east coast of South America
amounts TO more than S10OOOOOOO
AT pre- sent all the banking is done through
London. and the bankers there take a toll
OF about l per cent for doing it. This is a
tax OF l per cent on trade. None of the
banking companies of South America are
III tAe business for their health or for
pleasure They charge for every accom-
hiofauon. and they make enormous profits
some pay III per cent dividends. and nearly
an give from / to ) per cent on deposits
Inc per cent is generally on accounts
hS fr..r,
/" TO u per cent is paid.
English Hanks and What Tb., Nal,
BGeEos Ayres has a number of foreign
banks. whose capital runs up into the mil
Mons The London and River Plate Rank
has branches in Brazil. Uruguay and Lon
don. with its chief office in Buenos Avres
lis capital is about seven and a half mil
non dollars, and it has five million dollars
reserve 1und- Its deposits amount TO about
tlShtE million dollars. and on all time do
poSItS u pays interest This bank keeps
some hlng ike fl,oOnUO0 of gold on hand
Inc AnSIO-Argentine Bank has TWO and
onc-Guarter million dollars CAPITAL and tho
capital Of the London and Brazilian Bank
Is equal 10 seven million five hundred thou
sand dollars Of our money. There AZ
strong Italian banks in Bucnos Ayres
There are German banks and Snsnish
banks, and in fact. the only country that
uotS much business with the Argentine
which has TO direct banking connexions
With II * the United States
These banks do not Speculate They
MAKE Two clearings every day. and so far
,'s know no foreign bank doing business
IN The Argentine has yet failed The bus-
mess Is just as safe and legitimate as that
OF me United States, and if a syndicate
could be organized in New York with soy
tr'I million dollars capital to do business
IA south America it might pay big divi-
deHtiS- such an institution mgF be gotten
up by the directors of Insurance comma MS
anu other companies who lend money the
stockholders 10 be men VINO are Interested
IN shipping goods abroad. a manager could
De semi from The United States to the Ar
s'I!tlHS 10 open the bank and connections
Houid soon he established which wou1d
mike the institution pay from the start.
ar dSh Such an institution Americans
Sg1uIl Ir'Ih the standard of the business
M ms on thS east coast of the Atlantic 1t
Would enabit a large portion of our tradc
W pe zone on safe credits instead of SPOT
CaSh ana would put Us on the same footing
nj Nor Ha.rr
Argentine. 1t would also show the Arean
!lnts That Ne have enough faith in them TO
invest money in their country They saw
That the people of the United States baI-S
always PTOIeSsed a great friendcti, o.
them, but so far have never done ANYTHING
10 heIp the country along. They would like
70 see some visible evidence of our affec-
non; ;tfii say that If the United States will
establish "a bank and a steamship line they
VIII be ready 10 believe in them
a"ont our Visiting Commissioners.
Inc commissions of so-called American
capitalists which have visited the Aruen-
tine republic to encourage trade have. am
told done more harm than good. One was
sent down year or so ago. 1t was widely
advertised. and the Argentine officials and
capitalists made great preparations to re-
When the commission arrived II u.as die
covered that large part of 1t was made
up or commercial travellers, VINO had taken
i4'sSF VI JIie low rates of tranSpOrta-
uoh 10 turn this natural trade expedition
mo q drumming tour. One peddlar OMEN
et MS stock of Jewelry on the speciaI
car which he Argentine government fur
hshnd 10 carry the commissioners from the
La Plata 10 BuenOs Ayres and tried To re-
Tan his ware to the distinguished Argen-
tines who had come there to receive tba
commissioners. Another commercial rrav
eler. a man who wore a long frock coat
and derby hat. represented a bicvcle firm
ana went from one newspaper office to an
olher proposing to give the editors bicvcles
IN exchange for advertising Another man
was a mechanical expert Of one of our
leading wagon factories who went about
showing pictures Of his shop as it was
when ne started and as Ii is TODAY and
another was lumber man who owned a
saw mill in Alabama The whole party al
though II contained some good men was
as FAR as international trade was con-
cerned. a sort Of a Falstaff army. and its
Cuie upon the business interests of the
United States
At the same time that these commercial
travellers were maSquerading as American
capitalists some big English capitalists
were quietly investing millions of dollars
In Argentine property. The English cap-
ftalists do not send national trade commits
Eicns. They send their own financial agents
out over the world with a good bank ac-
count behind them. They are ALWAYS on
tell you just about what percentage nearly
every new enterprise pays.
What England Owns In Argentine.
A large amount Of the business done in
the Argentine is with English capital
The best of the railroad are owned by
the English. They have been recently
buying up the government lines, and
the day VIII come when they will
own them all. The Argentine now has