The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-06-27

Beginning Already Made in the Ar
gentine in Studying Methods and
Desires of Our Latin Neighbors

chant marine they must face fairly
and sauarely the problem that having
one brings to them. No halfway
measures or temporary expedients Of
doubtful value will solve this problem.
It costs us more to build shlps IMAM
IL costs other nations. And II we
would have American buiIt shlpS' anu
IL with our higher standards OF iapor
IL costs us more to operate shlps than
II costs other nations, and II we Wouid
have American goods carried under the
American flag. then these differences
in original costs n In operating
expenses as well must he squarely
~recognizcd and provided for by ade-
ouate legislation. If this means a
subsidy let us not dodge the issue or
temporize with the problem. IL is
often true that an Ill tasting medicine
hard to take, proves an eficacious
remedy"
Mr.. Kies then referred TO another
handicap under which American busi-
ness men struggle for trade In south
America or other foreign fields, THIS
handicap having been the lack OF
banking facilities. On the other hano,
he pointed out, the English system OF
branch banks has had a remarkable
development. Less than a hundred
stock banks in Great Britain. Ire
iand, Scotland and the colonies have q
total Of II ,G66 branches, the English
like the Germans. having exploited the
trade markets Of the world with scien-
tlnc e~xactness and energy, using their
banks and their branches as active
agents in the trade movement.
These banking facilities have made
easy the extension by foreign NOR
chants OF substantial credits. narticu-
larry in south America, but the Amer
lean manufactures has been at a dis
advantage because he lacked such IA
~cilities and because he had no discount
market in which to sell his bills. Mr..
Kies is very hopeful that the estab-
lishment OF branch banks in South
America and other foreign countries
may make it much easier for the man
ufacturer OF the United States to COM
pete with his European twas In trade
"Of course Mr.. K!es added. the
establishment OF branches in foreign
countries IS pioneer work for Ameri-
can bankers. There are no s!gnboards
to point the way. and the path is by no
means clear. The foreign branches
established already and yet to he
established by banks Of the United
States deserve the hearty support and
the loyal cooperation OF American
business interests in order hat their
development may he along lines OF
mutual helpfulness."
In commenting upon the part now
being taken by the National City
Bank. which IL now establishing
branches In South America and which
Will establish branches in other parts
Of the world, Mir. Kies explained that
II hopes to develop these various
branches into active, forceful agencies
in aid OF the extension OF American
foreign commerce.
ITO this end" no continued. "the
National City Bank has ma ie com
p~rehensive plans for the establish
ment OF a commercial service in con-
nection with each OF its branches. and
TO be In a position, through such
commercial bureaus. 20 furnish the
personal and confidential representa-
ton which Is so much needed by
American manufacturers. Arrange
ments have been made to maintain a
credit bureau which will he supple
mentary to and not in competition
with he service successfully main
tanned for a number Of years In South
America by the great mercantile
agencies OF this country; and ex-
perienced credit men Will be placed
in charge OF the credit Investigations
Of each branch. As rapidly as Il is