La Junta tribune., 1914-12-05
SOUTH AMERICA Is broke.

e. W. PAtterson Tells Interesting
Story Of Condition. In South
America in kanAas City Star.
Robert w. Patterson. president OF
the First National Bank Of La Junta.
Colo. on his way home from jour
ney lasting two and one-half years
In South America. stopped in Kansas
City last Tuesday. says the Kansas
City Star of that date. and talked
about the conditions In the countries
OF South America and OF the oppor-
tunities for the United States TO get
trade there.
South America is bankrupt" he
said. THE times are very hard
down there. We think we have been
hit by the war. but we have escaped
damaged altogether compared with
what business has suffered In South
America. The Balkan war knocked
out the business OF South America.
The present war has simply paralyxed
everything In South America and Il
will be long time In recovering from
II.
"The reason is that practically all
business In South America WAS done
on borrowed European capital. The
Balkan war came and the money
chests OF Europe closed tight. The
lenders Of Europe demanded theis
money and the gold OF South Ameri-
ca went to Europe and was not re-
turned. Many enterprises stopped
altogether. Then came the present
war and things went from bad ;. to
worse.
II will give you an instance of
what the Balkan war did to.eme
place. Sac Paulo. In Brazil. saw
there hundreds Of buildings that had
been started just beforp the Balkan
war. They were In diffessat seeges
Of construction when that war came
and oil work upon then stopped II
once and has never bssn resumed,
was In . jute factPry there thss
le0ployed three thouosnA mea he.
1 3zHfs tDsyoi11nQr41 lk.tis
down the hands 70 sas tAouaasd and
the manager Of the plant told ma
he was bankrupt. That factory had
been making million dollars a year
prior 10 the Balkan war.
II was In Colombia when the pres.
ent European war began aud Il sim
ply killed all business. The coffee
planters do business on borrowed
European money. which is advanced
to them just as the Southern banks
advance money to the cotton plant
ers OF the South. Now the coffee
crop has come down to the coast
and there Is no money for anyone.
II found n very friendly feeling In
South America toward the United
States. except In Chile. where We had
several diplomatic disputes aud there
In some prejudice against us. In all
the other countries We stand well.
u IL not generally understood In the
United States that We had our share
Of the South American trade before
war began. found that when the
American business man goes aftei
trade he gets Il. even taking Il away
from Enslish. German or French
The American b the best trader Ia
the world. And whsn this war 1,
over and south America recover
from her present stssnstioa. We will
get oil the trade We waat and q
after
what ws need moro than sny.
thing slss now are more shiDs. Ia
the two and onc.haif ycars wal
there I was In the hssbor towns ol
Peru. Boliva. Chile. Arseatlas. Par
agnay. UruGay. Brasil and Ia ths
Barbados. Trinidsd and the three
0uineas and In oil those travels
did not see one ship flying the Amer
ican nag. Il was not until ! 90. b.
Cd vsnesusla that I saw some lum
bsf schooasrs flying our flag.
Mr. Pattsfson said that ip al hl,
travels there hs oid not ~ on,
place whore On American with +.
, family and with Americas idealI
would prefer 70 live rather thar Il
, bic own countsy.
"Ths ideals and customs Of ID,
psoDle are ajtoesthss liffessnt fsou
ours," be saiA. 'TAsy ase - differ
} sat that . tsus Anesieaa coulA 10
a6eDt thea With satlsfaetiea - hin