The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-12-02
MORE FIELDS OPEN
TO AMERICAN TRADE.
National city Bank Points Out
Growth in Our Foreign
Commerce.
TAKING EUROPE'S PLACE

1hat a new field Il opening to Amsri-
can capital In the shape OF investments
N foreign countries. n field made pos
sfbls by tbs present war and the curtai!-
ment OF European financial ventures IN
CHINA, South America and other unde-
veloped countries. Ia the Keynote
sounded by Tho National City Bank In Us
December circular. II Is pointed out mat
IN these countries trade followed
Investments and that the railroads, pub
ltc utilities and large Industrial prop
critics. especially In South America. have
bean financed by Great Britain. France
and Germany. When these conditions
are Understood II u surprising that sales
Of goods from this country have made
"a rood a showing as they have In the
Orient and In South America.
The circular then says:
'"rhe war has stopped the o OF capt.
Ai from Great Britain and Europe. and
South America has felt the deprivation
severely. Al tho recent Pan-American
conference the burden OF every discus
sion vas the problem Of how to raise
the capital necessary to enable these
countries to continue their development.
lU9y uO Hoh WIN Hp" NoPihot ~ sb'
form OF money they wan It in the form
Of machinery. equipment. warehouses.
facilities and goods Of various kinds
which they do not produce but which
We can supply.
'China. with a vast population Of IN
dustrious people. Is inviting us to name
the terms upon which We will supply
Il with the modern equipment by
which II may inreas its produc-
~- hSA la NA nnVN
Portable level of existence. Russia, with
its great undevelop-d resources. Is in
the same position.
Our steel and Iron and allied In
oustries are entering upon another
period of expansion. Before the war Is
over our capacity for the production OF
steel and iron will probably he greater
than that of all the rest of the world
and We will be able to supply structural
material and machinery for all these de-
veloping countries, provided tho pur-
chases can be financed.
This II the problem with which we
have TO deal. Our would-be customers
cannot buy unless they can borrow fol
the purpose IN this country. The pro.
oeeds OF the loans will remain In the
country and tho orders Will take the
place of the precarious wal business tina
IL now crowding our industries and hell
w tlu" tTo country cNST tne uHlIkeTOus
period that must hs passed IN tho transi.
tion from war orders to n normal bust
ness.
THE country needs 10 coordinate II.
powers in this emergency so that It's In
vestmcnt resources can be brought To thu
support of its Industries and used I,
Keep them running to capacity"
n circular also discusses the In
Creasing bank loans OF the country
pointing out that New York seems MOI
than ever likely to become the monetar.
oentre Of the United States.
Commenting on the broad improve
ment in prosperity which has taken plac
In the last few months. the circula
adds:
"At the end Of the war the Unite,
States will have the most thorough
equipped and organized industries In III
world and II the proper spirit Of CO
operation exists between managers an,
workers there should be plenty of wor
for them in setting the world In orde,
replenishing Its supplies and bringing
UP to date. We will be able to sell an,
quantity OF goods II we keep our cost
down to fair figures and will exten
credit"