The Birmingham age-herald., 1915-12-15
SOUTH AMERICA IN !. PRESSING NEED OF SUPPLIES FROM US Things They Want Can Now Be Secured Only
 In America BIG CORPORATION IS PLANNED TO ASSIST Great Britain Mobilized American Securities Which Will Be Used
 In Paying Her Debts in
 This Country
By HOLLAND

Fly HOLLAND
 New York, December H.-(Special) Some of those who are to be associated with the $50, ,0O0,0o0 organization which has been perfected to extend our foreign busi- ness look upon the opportunities in South America as perhaps the most pressing. Capital. they say, no longer flows from Great Britain, France or Germany to any of the South American countries. At the beginning of the war, an embargo was placed upon the outflow of capital from these countries to South America which acted as swiftly and as suddenly as did the cyclonic impulse which closed the doors of the stock exchange in August, 1914.
 These men say that there never has been better proof furnished that trade always follows and usually instantly fol- lows the loan than is contained in the story of South American development. Now the South American conference was in session in Washington some months ago, the burden of the private, informal and neighborly conversation between del- egates from South American countries and some of those who represented the United States was the imperative need of South American countries for about everything in the form of commodities, especially machinery.
 HERE IS THE PLACE
 Sometimes it is said that other nations can, if compelled to do so. secure the commodities which they need elsewhere than in the United States. That is not the opinion, however, of those who are organizing the international trade cor poration and who have recently taken over the international banking corpora ton, chiefly because that corporation, which fiourished under the late Gen. Thomas NJ. Hubbard maintained branch banks-15 in all--in the far east, in Eu- rope, in Central America and in Cuba.
 These men ask where can South Amer ica, which is in need of machinery, tools, railroad equipment and electric apparatus, obtain these commodities now excepting in the United States Before the war Ger many, England, France and Belgium could have supplied all the commodities of this kind that the South American countries needed, and these were the only nations which could do that. Now these nations are having at hand emergencies that call for utilization at home of almost all of their industries.
 NOT MUCH MONEY, BUT GOODS
 Word comes from the South American nations that 1t is not so much money which they now need as wealth in the form of materials, supplies and manufac- tured commodities of all kinds. By and by, some of these nations may seek credit or loans in the United States with which to pay for these purchases, but they also expect to pay In part by export to us of their own commodities such as coffee and hides.
 It is in the discussion of these oppor- tunities and the planning of the ways and means by which they can be grasped that our leading men of affairs are really preparing for adequately meeting the openings for trade which are to be made in favor of the United States. Occasion ally note of warning or complaint is made on the ground that the people of the United States seem to be taking too much for granted, having a rather nar- row vision into the future, so that after
 
 prepared for the responsibilities and op- portunities which might be ours. That is not the view taken by the men who manage our large banks, both here and elsewhere in the country, nor by the men who are directing our large industries, We are preparing, they say, and the work of preparation is going on as rapidly as possible.
 FOREIGN HELD SECURITIES
 It Is only within few weeks that there has been some willingness to make re- ports upon the movement of foreign held American securities Tn the midspring one of those who was in conference with the British government over negotiations which eliminated in the floating of the Angl French loan said that if the war be prolonged it was inevitable that the bel ligerent nations, especially England. would utilize securities for the purpose of protecting credit or establishing cred it's. He also said that England undoubt- edly would mix in with the securities, as many American securities as it was pos sible to obtain. That statement, how ever, was only forecast. Now, about six months after the statement was made, there comes an authorized ac- acknowledgement of the fact that the govern ment of Great Britain has been making dilisent inquiries so that it may be learned how many American securities are held in England. Presumably the in- quries are made for the purpose of bor- rowing by and by these American securi- ties furnishing in place of them other securities held by Great Britain so that the owners may be abundantly protected. When the commissioners who were ne- gotiating for the Anglo French loan were in the United States, the American bank CTS with whom they were in conference suggested that these American securities held in England and France should be utilized as securities for credit or loans
 It looks now as though no small part of the international financing to which France and England on the one hand and the United States on the other, are