The Birmingham age-herald., 1914-11-10
Authentic Reports Show Millions in Foreign Busi-
 ness Being Developed
ENORMOUS CREDITS
 ARE BEING BUILT UP
South America Will Become Heavy Purchaser Just as Soon as Suit able Financial Arrangements
 Can Be Made

Washington, November S-tSpecial.l That the President and his friends are sincere in their professed belief that an era of great prosperity for the country is at hand there can be no question.
 Coming, as it did. on the heels of an election which greatly reduced the over whelming majority of the democrats in the House, the announcement of this be . lief as the basis for optimistic views on the election of 1916 caused cachinna ton among callous and ribald republican pol iticians, but, nevertheless, the belief is sincere and should it prove fallacioue the President and his official family will be tremendously u surprised and disappointed.
 Authentic Reports of Experts
 The belief is founded on authentic re- ports of experts who have been sounding great financiers and business men In New York and who have investigated comner- oial conditions and prospects in the coun- try thoroughly. This was confided ts The Age Herald correspondent by one of these experts himself.
 As related, while in New York he con ferred with leaders of the highest finan
 --~N millions, not in thousands and hundreds Of thousands" as he expressed it. Among those men, he declares, the utmost op- timism prevails and already they havs great financial deals abroad either under way or in process of preparation. ihe recent advance of a credit of sl0. GOO OOo t. France. the administration has been in- formed, is only lone of such deals in s dozen" and this. 1t is explained. was al lewed to leak out through inadverta nee and lack of precaution; the others are being held and will be held under cover
 Big Lines of Credit
 Tremendous lines of credit, say these reports, are being extended abroad, or are being negotiated by virtually all the greatest banks or financial combinations in New York. and other cities are being given their proportionate share of these investments. Nor are these credits yield ing only or per cent, but will return to the banks and bankers interest ranging from a minimum of per cent up to 10 per cent
 It will be noted that these transactions are in credits and not in ready money. which means that, while goods purcha seq in the United States will be paid f ,r by foreign customers, the money to fin,nce their transactions will not even leave the vaults of the American banks.
 The foundation for these transactions Is laid on recent pronunciamento by Rob ert Lansing, counselor for the department of state, that American merchants and manufacturers may sell to even belliger- ent nations any article under the sun without violation of either the spirit or the letter of the neutrality laws. Even cannon and cartridges, bombs and mines, rifles and revolvers may be sold to Earo- pean purchasers without impingine OF the principle of neutrality, provided tho purchaser assume the responsibility Of actual delivery of the goods.
 C0unteracts Wilson Statement
 Moreover, it may be said that Lansing 8 decision was desgnedly issued to discount President Wilson's statement that loans by American financiers to foreigners was violation of the spirit of neutrality. This view was expressed when a great loan for France was in eontempla tion and soon was seen by the administration to be grievous error; whereas, Lansing was brought to the front as an interpreter of international and neutrality laws, and the effect of the Presidents edict thus was officially counteracted.
 So, with trade between the United States and Europe made possible. the ad- ministration has been informed indirectly by "big business in New York that this trade will be developed at once and that hundreds of millions of dollars of goods soon will be shipped abroad and will be paid for by money loaned to the pur- chasers. yet never put into their hands.
 That the war and the depression-the near bankruptcy in Europe can or will adversely affect conditions in America is denied by administration scouts. They deride arguments to the eNect that it's depressing influence already Is felt in thousands of homes in this country. True, they except the cotton crop. and say freely that the present exportations will not make dent in the great supply of that staple.
 Expansion in South America
 Also the administration looks for tre- mendous expansion of trade with the countries of Latin America, and this In