Forest City press. (Forest City, Potter County, D.T. [S.D.]) 1883-19??, 1914-11-25
EXTEND RESERVE
BANKS OVER CANAL
Create Credit System Between
United States Producers and
Latin Americans By
Measure.

Memphis. Tenn, Nov. sI.-tDrgani-
:lation CT Il large barking corporation
and esta biishlnent in Latin America,
oe branches of the regional reserve
banks as Il means 81 Cpcnlng .he imam
cial c%liar1cls between IRE United
States AID the countries of Latin
America were committee suggestions
await;nis presentation when the inter-
nations: trade conference OF the Mis-
sisaippi valley and central west re-
s.,rleti it's sessions here today.
Other recomI: c,ldaIions induced an
appeal &c congress tn Improve The nay-
:saElc rivers OF the United States and
the inauguration OF a movement TO aid
the iniana carriers of the sontharn re-
ines.
fsarrets's Program.
The Mississippi valley and it's trjb-
Itary st;tioas Detwee. the Al!agiicn-
les and the Rockies have IL remarkable
and peculiarly advantageous relations
opportunity. which ls not generally APP
preciated." said John Barrett. director
general Of the Pan-Anlerican union
addressing the union. This confer
ence should give IL punch TO this re-
latiolshiN whicl, will result lin urac-
49, ~ iSoA 0N4IlC Sl.iSIt.
This meeting hould mark the begin
ming OF Il new auG progressive period.
not only IN appreciation OF .ac Latin
American lield. bat activity IN getting
into great broad touch with it's oppo.-
tunities.
Let us. therefore, at the very o,,t-
set. realize the specia, sphere OF Fan
American commercial ~oppori,tu;ty
which appeals directly to this vast sec
tion represented here today. The fig
troc nnft n<t Y 0s,~
based upon the most recently COMPLIED
data of The Fan-Amcrican union as an
International organization.
TO SUM UP. the Mississippi valleys
special sphere OF opportunity and ac-
tlvitS ~ Latin America comprises por-
nearly 40, 900. ooO, and u present for
eign trade OF S1.40G, 900, 900. which
must. with nc eXaggeration OF posi-
bilities. grow to $4,000, 900. 900 within
the next 10 years. These figures do
not inci,idc the great foreign commerce
valued q; $1,000, 600, 900. of Brazil. Ar
gentinc. uruguay and Paraguay, which
form the special sphere of Opportunity
for the Atlantic coast and the eastern
section OF the United States.
Uses? ~4'
First: Special credit and attention
should be given to those persons, firms
and organizations which have for MANY
Years been working successfully in this
1ield. What they nave lone and are
doing should DC carefully studied and
followed.
Second: The whole situation must
be approached from the Latin Ameri-
can as We'll as the United States stand
point. and from the side of imports OF
raw products for our manufacturing
plants US we'll as of exports of our fine
lsheii manufactured goods and that
surplus OF OF" agricultural products
that are suited to their markets. Ships
must have return as we'll as outgoing
.carsoes.
Third: Latin America at the mo-
ment needs money as much as the mer-
or TIE Missippi valley and the
at large. II the financial in
ci The Mississippi; valley
could lend Latin America $500, 000, 900
curing the next five gears they would
py thui agency alone and in that period
increase the mississippi valley trade
with Latin America 1850. DOC. 900. Some
method mast be devised by the federal
reserve board and private banking and
trust companies to meet the situation,
amount ct rooney To Latin America for
the iit.xi decade.
Fourth: a great and immediate
need of The hour are vel! organized and
banking and credit facilities
for the commercial and financial tram
OF Latin America and the Mis-
s!ssippi valley. especially in the spheres
of Influence Of the Caribbean sea and
the western coast of Latin America.
The banking. commercial. manufacture
exporting and importing interests
OF the principal industrial centers and
ports ot the Missippi valley should
therefore at once set themselves to
working out this vital problem.
Firth: AS soon as possible, regular
and permanent mail, passenger and
freight steamship service under the
united States flag must be established
between the gulf ports of the Missis-
valley and those of it's sphere of
opportunity in Latin America-one go
ing through the canal and down the
west coast Of South America as far as
Valparaiso. and another through the
canal and up the west coast of Central
n Mexico to California.
Latin America today realizes tho need
OF this service and calls as eagerly for
1t as does the Mississippi valley