New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-10-05
BANK AID SOUGHT
TO INCREASE TRADE
Merchants Association
Asks Financial InStitu-
tiOns for Help.
CREDIT FACILITIES
NEED EXTENSION
Federal Reserve Act Gives the
United States Opportunities
Europe Has Long Enjoyed.

Tho active co operation Of every ma
tional bank in this city 10 help Amcri-
can manufacturers aud merchants 10
take advantage of increased trade OPP
pOrtuuitics has been asked by the Mer-
chants Association. which has sent a
letter TO each of these institutions.
The openings in South America ana
other neutral countries are practically
unlimited lust now. The one DRAWBACKS.
however. has been the lack Of adequate
banking facilities.
The letter says IN part:
at is perhaps no cXaggcration TO say
that ono Of the main causes OF the re-
striction Of our export trade has been
the lack Of credit facilities TO the cN-
port merchant and manufacturer. and
that EurOpe has extended her trade
largely by reason Of the ample faclli-
ties granted by her banks and bankers.
our lack has been due 10 the want OF
knowledge Of the needs Of the business
on the part Of our bankers. and OF their
inability 10 grant credit IN the form
most available to tho trade. There IS
now every evidence of an awakened M
tcrcst i'm this trade, and this forum
atclv comes coincldent with the estdo
hshmcnt Of our new banking system.
The Federal Reserve net gives 10 our
banks the opportunity OF granting
credit in the manner that Europe has
cnioyed, and the association feels that
so much will depend upon tho attitude
of the American banker that Il VIII not
be amiss TO ask your reply to the FOL
lowing questions:
do you plan 10 interest yourself IN
the foreign trade?
as there any likelihood OF your
establishing branches in foreign coun-
tries under the provisions OF the new
act?
"Do you plan to seek foreign con
nections through whose Intervention
you will permit credits to be opened
on you by long sight drafts for the I'M
port and export of merchandise
Are YOU inclined to open connec-
tons with foreign banks or bankers on
whose Endorsement you will discount
long sight bills drawn on importing
houses in this city
"Arc YOU at present dlscounting for
sour customers their drafts against
shipmcnts 10 foreign countries, and, n
so. is the operation Of your own &C
count or for account Of European
banks?
itU YOU ehhEtob any ~ t'NN' ~
which the Merchants Association can
he Of service TO the community by at
10 bring about Development
Of the foreign trade ~
In addition to taking up the banking
situation. the association. through ITS
committee on foreign trade, rs compi-
ing lists Of The things its members
have, 20 SELL so that iuquirlng buyers
may get information as quickly as pos
siblc.
Each member Of the association has
received the following questions:
Do,you desire to receive Information
conccsuiug foreign trade opportunities :
Please furnish complete and de
tailed list Of the articles which you
desire 20 place IN the foreign market.
PrinHad material will be valuable IN
supp2 mentug written replies.
GirS the name of the officer Of your
firm f. whom information regarding
foreitn trade should be sent
Tht above information is essential
in ctpcditiuc the placing Of foreign
trade information before our members.