The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1914-09-30
SITUATION IN LATIN AMERICA.

The widespread ana unpreceoeHeSu
public interest in the Latin American
commercial opportunity as developed
by the European war IL being followed
by SO much -misconception, in many
circles, of the real trade and economic
conditions obtaining in certain parts
of Latin America, that Director Gen.
eral John Barrett OF the Pan Ameri-
can Union in Washington has found II
necessary to ascertain by cable the
exact business situation in Latin
America. and, as a result. to sound IN
Justice both to the United States ana
Latin America, a note of caution and
warning.
On August 8, Immediately after the
outbreak of the European war, Dlrec-
tor Barrett addressed a memorandum
to the commercial and financial IN
terests of the United States urging
them to prepare to meet the combined
responsibility and opportunity pre-
sented in Latin America by the war.
This statement attracted general at
tention and discussion, but now new
phase of the situation. as indicated py
these cable reports. has developed and
is recurring careful consideration.
size that what is needed at this hour
in Latin America is not so much
supply of the manufactured prooucts
of the United States, although re-
ouired in considerable quantities. but
money, loans and advances, cpeolts
on purchases, and markets at reason
able rates for raw products which US
uallv go to Europe. If Latin America
can sell at a fair figure her accumu-
lating raw products and buy, In turn,
through receiving financial help anu
cooperation in the form of advances
and credits from the United states eX-
porters, importers and bankers, the
situation will be speedily remedieo
and the commercial interests OF the
United States and Latin America Will
truly enter upon q new era OF ian
American commerce and comfy.
THE fact that the twenty Latin
American countries last year bought
imports and sold exports to the vast
total of 33,OOO,0OO,000, of which w.
600, 100000 were transactions with
Europe proves beyond bubble OF
doubt that the opportunity Is there Out
subject to the conditions herein noteo.
That the United States already has
good start and is making encouraging
progress il shown by the fact that its
exchange of trade with Latin Amer1-
ca has grown in the last seven years,
or during the present administration
of the Pan American Union, nearly
100 per cent, or from $45O,000,0O0 to
$3.50, 100000.
THE European war, while greatly
lessening the sources of Latin Amert-
can imports and the market for ex-
ports. and opening a corresponding
greater opportunity to United States
exports and imports. has SO unavoid-
ably crippled Latin American finan-
cial resources and commercial machin-
cry that it must require several
months or a year before conditions
can readjust themselves and permit
results that many United States busi-
ness men expect Immediately. 49, -s~'
despite the efforts not only Of the
Latin American embassies, legations
and consulates, but Of the Pan Ameri-
can Union, as an International organ
tzation, and the United States depart
ments of state and commerce to state
the situation exactly as it exists, count
less articles have been appearing IN
various newspapers and magazines
emphasizing an alleged golden oppor-
tunity' without pointing out its actual
and present environments OF money
tightness and dislocation Of information
al commercial methods. Numerous
business men and commercial agents,
in consequence. are crowding the
steamers bound for Latin America
with the expectation that they will
find the Latin Americans awaiting
them with outstretched hands filled
with gold and ready to buy everything
and anything they have to sell. These
men will presently return to the Unit
ed States and unfairly condemn and
criticise the markets and peoples OF
the countries visited.
IA great stream of letters and tele-
grams from both North and South
America are daily pouring into the Of
flee of the. Pan American Union, as
the international American bureau of
information, and they prove the wide
spread interest in the field and oppor-
tunity, but they are invariably answer
ed not only with the statement of the
actual opportunity but with an admo-
milton that the Latin American mar
ket, while vastly potential, is at this
moment embarrassed by a serious
financial stringency and dislocation of
commercial conditions for which it is
not in itself to blame.
THE opportunity of the hour, there
fore, in a word, is not so much one
for immediate large sales of United
States manufactured products as one
for cooperation and mutual help. to-
gether with careful investigation of
commercial conditions and prepare
ton to meet future competition sue
cessfully."
DON'T BE AFRAID TO SAY NO.
| The young man or woman new in the
world of husness faces an eyer in