New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-09-21
CITY BANK AIMS
FOR TRADE IN S. A.
Balance Should Be in Our
Favor, Says CONNER
Cial Expert.

Pointing out that our imports from
South America in 1913 were S2l6,OOO,-
600, while our exports there were only
S146 900 600, O. P. Austin, eX-govern-
ment trade adviser, at a recent meet
ing of the National City Club, declared
that it is our duty to persuade our
South American friends TO buy enough
of our products to at least equal what
we buy from them.
OF the 100000 worth Of prod
ucts which South America imported in
1872, he said, approximately 10 per
cent, or about $3.50, 100000, came from
this country, while England's share
was $3.50 100000 and Germany's $780,
1000. The balance came from other
European countries.
"What will be our duty in sn at
tempt to influence the commerce OF
South America? First, to try to
stimulate purchase by South Ameri-
cans Of the products of our farms and
factories, and then make it possible
10 pay with our own products for all
of those which we find it necessary TO
bring from that section OF the world.
Second, so to develop the producing
powers Of that continent as TO in
crease its contributions to the re-
uuirements Of mankind and at the
same time increase its demand for
our own products.
ITO accomplish these things we
must follow the plan which our Eu-
ropean rivals have followed in the
past of making goods TO suit local
markets, selling them on terms to
which the people of that part Of the
world are accustomed, so developing
the local industries and transportation
facilities as to increase the output
and therefore the purchasing and con-
Stunning power
This means first the establishment
Of an educative system by which, our
own manufacturers and exporters can
be brought into such close touch with
conditions in that part of the world
AS TO enable them to participate in
telligently and Systematically IN us
trade. Secondly, that our manufactur-
ers must be willing to maxi their
goods to suit local requirements and
sell them i'm accordance with local Gus
toms. and thirdly, that our fnsnciers
should be willing to do what our Eu-
ropean rivals have done and are doing
participating in the development oil
local INDUSTRIES anu Soihi"b
including the transportation system.
ain Mexico we have invested our
money freely to the extent of more
than a billion dollars, ard a. conse-
quence we are supplying about 90 per
cent of its total imports. In South
America we have done little OF this
while the European countries have
done much and have reaped a harvest
of that trade, supplying 20 per cent
Of the South American imports, whlie
we supply 8 per cent, exerting trade
and financial influence in al that part
Of the world to = much greater extent
than does the United states, sister
nation Of America"
The work which the National CltS
Bank is about TO enter upon, Mr.. Aus
tin said, was TO establish closer fnan-
csl, and therefore commercial, relations
between the United States and 'oulh
America. This is extremely lmportsat'
not only from the financial and COM
mercial standpoint, but from the even
broader point of view-that OF rela-
tions between two great but distinct
ly different sections Of America. Inc
possibilities of this wo. and OF us
effect upon the relations Of the two
sections of America are so great that
We feel we are participating in the
making of All important chapter In the
history Of America.