Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1915-05-02
WAR OFFERS AN
OPPORTUNITY IN
SOUTH AMERICA
American Science Academy Is
Told Nation Should Prepare
to Take Accordance in Com
merce With LatinS.

lsN MORNING JOURNAL SPECIAL lEAsGo wiHFl
Philadelphia, May American
business men were warned that now
Is the time TO plan for getting a share
of the South American trade hitherto
enjoyed by European nations in q
speech today by DR.. h. T. Pratt, chief
of the bureau of foreign and domcs-
tic commerce. before the American
Academy of Political and Social sell
ence.
DR.. Pratt told the academy that
the commercial and financial paraly
sis which fell upon the Latin Ameri-
can nations at the outbreak of hostil-
tiles in Europe gradually was pass
ing away.
THE countries of Latin America
said Dr. Pratt, (which were almost
paralyzed. commercially. Industrial
ly and financially by the outbreak of
the great European war are showing
remarkable vitality and are gradual
ly recovering. II cannot be expected
that they will fully recover their nor
NAL prosperity before the close % thel
war, but they have already, on thcl
Whole. gone much further than might
have been expected from analysis Of
the situation which confronted them
after the first Of August. |
Single Pian Obvious.
Whether the American business
man thinks that he can take immcdi- |
ate orders in South America, orl
whether he thinks he cannot, his pro- |
gram of action should be substantial |
~ the same. 1t is absolutely necessary
that before thinking of making pro-
fits out of this new market, which he /
expects to develop, the Americana
should give IL very
careful study. Now Is the time for
the American manufacturer to lay
The foundations of future business in
Latin America, for the American L
business man to lay the foundations
Tor future trade: now Is the time to
send out his investigators, to send out
MS business diplomats, to study and
export on the possibilities. Now is the 4
line to make his connections and
,orm trade relations which he can
oliow up and develop in future
ears.
1T was only natural, that when the I
,risis arose at the outbreak Of thel
european war, the countries of Lat
n-America should look to the Unit 4
d States for assistance. They have {
ooked and are looking to the United
tates 70 supply market for their
urplus products, TO secure the cred
Is for making new purchases. and
o advance the loans to take the
lace of European capital which has
'een withdrawn Heretofore South
american countries have known lit
lie or perhaps even less about the
'nited States than this country has
nown about South America. Mutual
understanding and acquaintance is
necessary before the United states
an take, even in part the place which
EUROPE occupied before the out
reak of the war. This process of
citing acquainted is going ON as
lpidly as might be expected. With
ne establishment of banking institu-
ons much as the branches Of the
ational City bank in Argentina, Bra d
! and Uruguay great advance may "
e expected in the esta blishinent of $,
Iore intimate relations between the
nited States and South America. Ct
America to Finance Development. az
I'm at least three of the largest ii
'untries, loans involving millions of Il
)ilars were in process of negotia- In
on at the outbreak of the war. Ne
closed and no loans were CT
)tdined Further development of the So
CHI resources of the continent must b,
wait the accumulation of European Sc
pital after the war; or the aid of 81
e United States. TO
THE nitrate, coffee, hides, tin and n,
bber of South America have been OF
rgely marketed in Europe. on the
st of August the European market fe
actically ceased to exist. The vast W
oducing sections Of South America tn
ere without an outlet for their re
oducts. The only hope was the Ia
lited states, which, at first, could ii,
'sorb but limited quantities of be
oducts the consumption of which Al
I'd been heretofore world wide. m
In all parts of the continent there of
rs a general paralysis of nearly all fiji
tivities Immediately following the
of the war, and this was
lowed by natural revival which be
Is feeble or strong according to the he
afacter OF the resources of the va go
'us sections and the state of affairs pr
eceding the war. In spite OF the Ii,
favorable outlook in July the River tic
ete countries or at least Argentina
i Uruguay have recovered most an
ickly and show the great signs of ac
osperity. In the north coast coun- te,
es, as in Central America, the prin- ra
lie hope of greater prosperity, at &c,
st while the war continues lies in we
'ser relations with the United TIL
ties" wa