The sun. [volume] (New York [N.Y.]) 1833-1916, 1910-11-17


on rul. Of thumb basis. In our own
clss- we catch our boys Young and Put
them into the Office. A they go along
we try To get them to study Spanish and
TO familiarize themselves with business
by actual participation But 49, a rule
the young men in export houses here
don't like 10 GO 10 South America, and he
consequence u there Is very little choice
Of material TO send You are not al
ways sure you are going to get success
full representative or one well equipped
-Of course there are no American banks
IN South America but there are half
dozen large English banks which devote
| their Art ention entirely &c South American
banking. and there are similar German
and French banks These furnish the
mos. liberal banking facilir Ices to good
houses The English banks have the adj
vantage OF free trade The basis OF in
tsrns' ional banking IL exchange Of com
Inodlties England. having no tarir.
has becom" the centre OF the world for
Internal ional banking and has developed
banking to point where Il ~ possible
TO finance the most complex business
tra1sar, ions such a. an ordinary Ameri-
can banker wouldn't even comprehend
i remember that some years ago we
| received an order for locomotives from
: the Argentine Government. the condition
being that We should allow them three
! years to- pay for them. the Government
| giving its notes for one. two and three
years. OF course We could not afford l"
carry those not-~. which were FOR "A large
amount If money. and ther. was no
| American banker who would discount
them But We arranged the matter in
London without the slightest difficulty
There the notes were discounted on a
basis 81 p-r cent. per annum, without
| recourse Thai il to say. we got the money
less the discount. and he banks assumed
the collection and all risks.
i do not believe unless there is a great
change IN conditi ions. particularly the
tariff, that We can hook to see Amer ican
banks doing business IN South America
and being very successful IN competition
with English and German institutions
II would he very difficult for Amer lean
banks TO equip themselves for South
American business unless they took
away from the English banks sufficient
men experienced in South American
banking matters to I'LL their own STAINS.
The English have an enormous acCumu-
lation Of capital. and they are delighted
az the opportunity To- finance other peoples
business.
The Germans are our great competi-
tors in business down there. and they
are the only exporters are afraid of.
We can work n hard a. they. hut we lack
their equipment.
To return 10 the hank ing QUESTION. the
charge - only 81 cents on each 500 for
getting your money from South America.
ity You send 10 the head hank in Lon
don copies Of vour invoice. insurance
certificate and bills 81 lading a. evidenc.
Of shipment. and In the branch Of the
London bank in South America the ori gi !
mails II these documents. at IN. same time
drawing at ninety DAYS sight ON the Lon ,
don hank That draft is taken up hv
the collection Of the amount by the branch
bank and Tts remittance To London To
-etire YOU draft when u IL due. That /,
i'll illtl@f how Aulnly and how
nomicallv W. are furnished with banking
facilities by the English bankers. These /
facilities obtain IN the Argentin. Rspub-
lr Brazil. Uruguay. Chile. Peru and
Ecuador.
a great deal OF fuss Is made over the
importance of our trade with China Vet
our trade to China amounts To only little /
more than SO.tsO.OOO. while our trad" |
20 Argentina this year will b- s15.iI.,sD ,
The capacity Of those people for buying !
IN increasing. and they ar. fahulou-iy
wealthy The French furnish them with ,
their Injuries We ara steadily increasing /
our business ard while would not ven
turr to- make NOR" definite com p, risons /
with other nations without the statIri .cs |
At hand We are more than holding our |
own
Their. Is a great deal 81 foundation
for the statements that there 10 much ,
bT.akag. in American goods shipped to
South America but the culprIts are per !
sons who haven't been taught ho~ pack Ing ,
snoin re unl' me hHlsr'ail hahu
ia'tur"r VINO Us a'ch-.ofn"n 10 ckPor'IhS
.eally packs his goods better than the
-agnr'"r OF any other nation.
ne American MANUFACTURE "a TN"
WIN 90 no'hhS 10 meet IN" ueHiahu- OF .n~
foreign huyer Will. - German ar a Eel |
gan VIII max" what-N"r n" wants. ana IN
any qtlanthy lhtt gives IN" European
Manufacturer an advantage A. for the
statement that has been made that our |
manufacturers los" ny not adopting the
metric system IN their measurements
for the south American market. every
yard-tick ~ south America has inches
on on" side ana c"ntim-ter- on IN" othrr
American locomotives ar" finding a
good market IN Argentina The year
befor. last We shipp"d thirty eight down
There Tor the Government railways
think perhaps there are about hundred
in the country, The Argentinians hav"
fought more locomotives from the Ter
mans ~ locomotives are put IN for tender
There - one thing about American
manufacturers in regard TO expectation
When things arr booming her" they don