The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-09-19
NO BONANZA Is SEEN
IN SOUTH AMERICA
Speakers at Trade Luncheon
Warn Exporters to Act
With Caution.
MUST BUILD FOR FUTURE
Money Scarce There and Best
Opportunity Is for En-
change Of Goods.

Some Of the speakers at the luncheon
OF the American Manufacturers Export
Association yesterday advised caution by
American manufacturers In going after
foreign trade. particularly In South
America. That territory is not a bonanza.
with gold as plentiful az in Western
mining camp. The countries there will
not buy anything and everything sent to
them and exporters who think they will
are likely to pay dearly for their expe-
rience.
The luncheon. which was presided over
by Charles T.. Jennings. brought hum
dred or more business men, principally en-
gagged In exporting and these men were
not INDUCING In any rosy dreams. W. A.
Graham Clarke and IL. H. Douthi,t. com
mercial agents Of the Department OF Com
mercs who know South America. told of
the needs OF the country and everybody
agreed with them.
Charles II. Muchnic of the American
Locomotive Works. who was "a member OF
the delegation which met the South Amer
lean diplomats before Secretary Of State
Bryan last week, declared that the fnan-
cial situation In South America to-day is
most unfavorable. Brazil IL practically
bankrupt and business men who Contem-
plate entering that field must proceed
cautiously.
II do not mean to say that there Is no
opportunity for American business down
there now" he explained. but | do say
we must be careful how we go after II. /
would say rather that the time is now ripe
for US to lay the foundations for a trade
which will be profitable In more pros
porous times"
At the Washington meeting, Mr. Much
mic said. every one spoke Of the trade
requirements Of Latin America. what sha
wants to sell and what she wants to buy.
But 1t all resolved itself down to one
thing In the end he continued. After
they had talked OF buying and selling m
variably they wound up by announcing
that the United states must finance South
America II it wants the lions share Of
South American trade. The representa-
tlves OF Ecuador. Guatemala and Uruguay
we're all emphatic on that point
Now the United States has not enough
money for its own enterprises. but SEEK,
aid abroad" he continued. How can We
think OF financing other Countries
The best the United States can hope
to do for the present. he said. is TO cx-
change commodities with South America
Prof Guy Edward Snyder of the
College OF the city OF New York. who has
just returned from tour of Chile. Arren-
tina and Peru. corroborated Mr. Muchnic
In the assertion that the financial situa-
ton In South America Is acute" Prof
Snyder believed. however. that much bar-
eft can be gained by intelligent work.
zone thing this country can send is IN
tclligent commercial travellers with ann
pies which will be duplicated by the goods.
Much Injury has been done to American
business men. who have sent sporadic
agents 10 the countries with samples
which were not equalled by the goods"
The first instalm'n Of Americas hnrk-
NJ army for South America will leave
this morning. when ten men who are TO
organize the branches OF the National City
Bank at Rio de Janeiro and Ru""os h"~cs
sail for Liverpool on the Finland. They
will go to Brazil from there.