The Caldwell tribune. [volume] (Caldwell, Idaho Territory [Idaho]) 1883-1928, 1915-06-11

~" SANB JAHS
throughout the last week in May, the
proceedings of the Pan-Americar
Financial Conference in Washington
aroused the widest and most intense
interest There have been Pan,
American financial conferences before
but there gatherings were marked
mainly by a smooth and easy flow oil
talk which began in words and ended
in nothing. This latest gathering
however, differed from all its predeces
sors in the fact that it was held by
serious men actuated by a distinct
purpose to accomplish something sub
stantial for the countries which they
represented These DELEGATES recog-
nized that the world was undergoing
a tremendous upheaval and that after
peace had succeeded the great world
war things could settle back into
their former state.
Obviously. the commercial rela-
tons of the different countries will
undergo radical changes and those ma
tons now at war with each other for
many years to come will not engage
in trade with each other, but seek
new markets and new sources of sup
ply. Inevitably South America will
sustain entirely changed relations with
the European countries. Germany
will be unable to resume its former
South American connections and for
time Great Britain and France will
be too heavily burdened with domes-
tic financial questions to resume the
position formerly held by the United
Kingdom and the French Republic
in Latin America.
When the great war broke out, the
South American States were deprived
of that financial support formerly OBJ
tanned from Europe. This financial
assistance was indispensable to their
industrial and commercial life, and the
United States must fill the vacuum
created by the retirement of the Eu-
ropean countries. Quite naturally,
American hnancierS were asking the
question whether, if they financed the
business of South America, this new
position for them would be perman-
ent or would cease as soon as Europe
was prepared to resume its former
fiscal functions. OF course, if Ameri-
can backing of South American en-
terprlses was only temporary they
would be less inclined to come for
ward than would be the case if the
tasks which they undertook were per-
manent.
OF necessity, the formal conference
has been season of discussion and
the results of that discussion will be
indicated by the action which will fol-
low the conference. There must be
extended and exhausted investigation
OF the needs and conditions of South
American trade, and during the years
that are to come, it may be expected
that all the commercial requirements
OF the Latin countries will be thor
oughly understood and every ques-
ton relating to its trade and industry
will become fully known. In the
light OF this accurate and definite in
formation on all important points,
American hnanciers. merchants and
manufacturers will be able to act in
telligently and effectively and to Sc
cure tor the United States financial
and commercial pre-eminence on this
continent which will never be disturb
ed.
Evidences of Business Improvement
Further statistical evidence of i'm
proving business conditions is found
in the record of commercial failures.
which have shown a steady reduction
month by month, and in Nav made
much the best exhibit of the year. To-
tai insolvencies during that period. as
reported to R. G. Dun & Co, num-
bered l,707 as against 2,O63 in April.
2,O9O in March, and 2,278 in Febru
airy, while there was a decrease of
1,l4l suspensions from the January
figures, or fully 40 per cent. More
over, the $2l ,053,212 of liabilities in
volved by defaulting concerns last
month were NOT on1Xy the e,,,,IIo,t Z
the year-showing marked contrac-
ton as compared with January, Feb
ruary and April-but were also less
than those in MAY, 1914, when the
amount was $23,447, 400. In point Of
number, on the other hand, the in
solvency returns still indicate a NOR
tallty above the average. last months
returns disclosing increases of 49,
4ol ,oOo, and /Ol defaults, respectively
in comparison with the four immediaf.
ely preceding years
One OF the largest New York fnau-
cal institutions, which maintains an
extensive system of correspondents
IN the strategic trade centers, has com
piled the results of an extensive in
curry INTO the basic conditions which
prevail IN these districts, particularly
with respect to crops and the effects
OF the European war, While reports
vary IN detail, a very promising stu
q at!oi, Is portrayed. This may be
Drlcuy summarized as follows:
General Situation and Outlook
he general situation and outlook in
the southeast is stated as encouraging
and hopeful; in the southwest sound
ana good The Pacific northwest