The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-05-16
From Confusion Due to
European ar--.Cradually Bet
tering Economic Condition.

This policy has gone far, since u hAS
stopped work on many important pub
lie projects which carried heavy pur-
chases of material. These projects,
however, will he resumed as the times
improve. The financial credit Of tho
countries which have ~retrenched will
be strengthened.
The extent to which legitimate and
proper advantage Is taken by Ameri-
can manufacturers OF the dislocation
of international trade caused by the
European war depends on themselves.
The Spanish prove~L says that the
waters return To their ola courses ever
efter a thousand yors. This has been
quoted to show hat the trade cur
rents will flow as they always have
flowed.
1t Is not altogether true. Some
permanent diversion Of the channels
of IN Is an inevitable result
of interruption and interference such
as that which has been caused by the
war, but that the European countries
will seek t. maintain their South
American market and that when
peace is restored there will be a len
dency TO revert to the old currents
il undoubted.
The manufacturers OF the United
States who would enlarge their mar
ket in South America permanently.
therefore. should not depend Too
much on the disturbance due to the
war. They should know especially
the natural u OF the coun-
tries n then should inform them
selves about the trade requirements
and the general commercial cond!-
ton. The development projects OF tho
different governments should bc
closely followed, and always II should
be borne in mind that these coun-
tries for the most part are coun-
tries Of undeveloped esources. The
ordinary business man Is apt 10 b.
impatient II the talk of resources
which have been reserved for future
generations. He does not conce
himself beyond the point where Ae
a see ar order, but he may enlarge
his vision in fhls matter to his own
advantage.
A concluding observation may b.
made on one of the cardinal bases Of
increased South American trade.
The conditions are favorable 10 SOM
increase of a general kind. hut a sys-
tematic and permanent expansion o;
real value must depend upon tn"
same fundamental circumstances that
have given England and Germany
their prohtahle South American
market.
This means investments in com
mercial and development enterprise
in banking. in contracts and in loans
Ii requires fun knowledge Of the
countries themselves, their
their political and social. institutions.
their fiscal systems and their national
policies.
The outlook j. good for the awak.
eEcd trade consciousness Il the peo.
pie OF the United States as to South
Amcricl reaping the fruits OF know
edge intelligcntly applied. Facilitice
for exchange operations and for com
merCial credits have been greatly i'm
proved. Investments in mining prop
critics that have great development,
possibilities have been made and q
step has been taken toward partici.
patinG in the loans offered 10y som.
OF the Ohovernments.
The broad pr position is 10 partici-
pate in financing South America as ar
effective means Of securing a market
for increased quantities of the prod
ucts Of the United States. The FOR
eign commerce OF the countries ~
South America in the near future Will
aggregate 81. 500, zoe, 900. \ larger
volume of this than o
exists should b" between those u
tries and the United States.