The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1915-01-29
HOW TRADE FOLLOWS THE LOAN"
81 n. PEPPER
Formsr Trsoe Adviser 20. s. Department % State

eFfiAen 1873 D y Eibhc Ledger OF panyl
o, N. IasSs - a FTs.i.5 sEHiasases n the ,sEiaE q ,s HsoooOOO loan
he mere matter q . ansnehi tanisstoS M II o5 e5siR pan "a ; ,a Ia :.
people IN south Aat g%t Rs4 so' So5 S SaSsrS BEEN lh H1se eaous BY TO q s 2sa
they have been n too os .5oas sS" st "a M q - order 10 @.nutaeseIsT.
ssll.nsoa. ,gs2ls. p his country Our BRUSH and German h1aii may
As pointed ous b. J se-tn TAFT a reeept CONNER, or .. order
empire. ~ IL : : her SryI lSa2n ~. " sf fsii seF SSesiy SssHs .rn ns:T Of S SoS.,Se %, y s st
Irrational Commercial .uperaOrV and no phrase wa e uuer than
The tradition o. British railway. in the Argentine Republic 4. tina,
Ing IL A business principle is involved in buying the coupling pin
British mills dsp sSan have the lSsi ss TsfI q s4ii sSF in s"SRns. A s s @ be ' sSSS
and the purchase OF coupnns pins and other articles which mount noant n
How the policy W Of maE @%T BRUSH tSF fo Sa Rs iR SSp%a pay. o,
iron and steel mills in Great Britain. is shown BY ar ANALYSIS Of purchases
material t. the snogH, q siooSOco. and o Of this amount s%a G'1 Se G GHfsdi
under t22eG6OS. and Of this " $4,000 was credited to Easand
good since tSese We're bought n to T The value Q. sSscoSCc' and the United
Knsdom only supplied $4,000. The United states was n on this
he Sensrsl elas.ihssnoa Of railway materials. Great Britain supplied
Were y no. tina, . PAR Of the A-se9ane railways are national lines.
investors and were IT not 70 the further fact that there are several
almost a complete monopoly for British manufactures.
securities see that the manufacturer who are borrowers from them get
arb. a v similar - policy is I ,SaoTsd in the placing Of national loan. for
eTnment noat. ii loans in London. the proceeds r. OF transferred to
capital and a large part G q Of " the fund nT remains q % n deposit Sesf tei,o% py so2 ,SOss
capital for the British %S Contractors u etc s''O nS' OIL 10 provide "o'Ain
beeau, S'5 Geamaa Rye Ss Raa h ntfe nS osrS Sssn S of The SANE; ,a :. kind ,r as gFir s,
German banks e to It that the construction 81 ToHe material at RI p i bought an S G Se
ncrsbips or branch houses There Se rourbfy sun spssEins ma 10, Sss1 nI IN part
hrms engaged In foreign business. Many OF these are partners In m
porting houses I'm South America. The partnership investment may moi
b large. sometimes not more than $4,000. but It answers a definite pur
pose. Usually the money so invested is like that In national debts The
time hen the principle shal be paid is Indefinite In most cases. doubt
less, n withdrawal Of the partnership capital would be impracucabIe.
n Hamburg merchants are content TO let it remain as a foreign
investment. because IL brings business from the importing houses The
uccess of Germany in establishing so extensive a market for small lines
in South America partly has been due to the partnerships in importing
whichg ave the reference 10 German goods and which always ar,
trade missionaries for articles OF German make
United states. and with the extension On Of f SSnRh Aln faeati Sy eig1s9s of he
commodiue should become much greater But they viii moi sssTra
satisfactory proportions until the United States is a genuine paricinart
al. form of legitimate ACKNOWLEDGEMENTS Ioans nplUc r,I,.s
and other enterprises The PERCEPTION Of the necessity OF investing IN
South America in order to get South American TRADE is oa ~, ~
couraging signs of the movement for foreign markets
'. CHARLES n. PEPPER