New-York tribune., 1910-02-14
TRADE EXTENSION
KNOWS SUCCESSES.
SeUeral Projects " ell on Uay
Toudrd AccOm piishment.
rFtom The tribune Bureau. /


Washington Feb. l5.-The commercial
poIic,- of the state Department. the first TO
he en,,ncisted by Secretary Knox shortly
after the beginning Of the present admins
tration is beginning 10 attract decided at
tention in view. perhaps. OF the fact that
II + 4 novelty in the conduct Of the foreign
affairs by the United states. we'll as be-
cause of the successes ALREADY achieved.
Trade extension is now the keynote %
American foreign policy.
So far the policy has been singulsriy ef-
feciiyn The most successful accomplish
ment was the securing OF the contracts by
American firms for building the two new
Argentine battleships, involving more than
$2o.o1o,0G0: but other projects. nov well on
the way toward accomplishment. are likely
to bring still more attention to the new
order in tnc State Department. Among
these NAV be enumerated the project Of
the American-Ottoman Development Com
pany to build a railroad IN Turkey, in
voIving al outlay OF siao.G 900: the Hankow
Railway loan. which will open market for
several millions Of dollars worth of Ameri-
can railway materials; the Chin-ChoH-Fu
and Tsitsihar Railroad. in China. the estsb-
lishment Of q Pan-American bank I'm South
America by capitalists of the United States,
the refunding of the national debts Of Hon
duras and Guatemala bv American bank
ers and the readius.ment Of the national
finances of Liberia through American ala.
Only one of these projects. the building of
the Argentine battleships. has been brought
to successful issue so far. but the others
are in various stages nearing completion
The Hankow Railway loan was the first TO
occupy the attention of the present admin
istration. Secretary Knox, on behalf Of the
American financial interests. entered the
field on the basis OF treaty with China
giving Americans an equal opportunity TO
share In public loans, of which advantage
had not been taken. although II may be
said the suggestion was made 70 the
fnanoiers during the previous administrs-
ttnn. The four powers involved IN this
England France, Germany and the United
States-hsre come to agreement. with
the exception of France. the French bank
ers holding out against certain unimportant
details of the arrangement for the loan. \
number Of American locomotives and cars
are already in use on the part Of the road
-oonlpIetes II ia expected that a proper
ttonate share of the materials for fhe
building and equipment OF the extension
will 30 70 American manufacturers
The interest of the present adninistrs-
tion in the Hankow railway loan was
made aprarent by the fact that President
Taft addressed q communication directly
TO the Prince Regent The efforts of the
State Department in behalf Of the Aneri-
can shipbuiIders who were bidding for
the Argentine bsttleships contracts we're
scarceIy less pointed. The matter was
under the constant direction Of the state
Department and was the. subject or al
most continuous diplomatic interchange
between the two governments
The other projects have not Yet reached
the stage where the good Offices Of the
state Department are reauird in pushing
the negotiations 70 completion. 1he de
nsrtment does not conceal the fact that
efforts Of d general character viii be made
TO retain and stimulate the friendship OF
Turkey in view of the fact that that coun-
try will be a promising field for CONNER
ciaI activity under the new regime. One
American firm has already entered the
field by the purchase of q line of ccasting
steamers. Other contracts Of various
kinds. besides the important enc sought by
the American Ottoman Development Com
pany, are under consideration
The scheme for the establishments of a
Pan-An1erican bank to facilitate trdde
with the United States has not yet ma
tured. II necessary the State Department
will lend its aid to bring the plan to =
successful issue. In the same way, the
negotiations of American bankers for re
funding the public debt Of Honduras and
| Guatemala are still matter between the
central American governments and the
fnanciers J. P Morgan & 60. are dis
cussins such a project with Honduras and
Snever & 60, of New York, are negetiat-
| ing with Guatemala.
The Chfu-Chow-Fu and Tsitsihar rail-
road project in China remains practically
| AT the stage at which 1T was left some
| time age, the United States offering its
| support condition that Great Britain
| would do the same and that the other ma
| tions have an edual opportunity No di-
rect opposition the plan has been pre-