New Britain herald., 1916-05-23

THE GOLDEN SOUTH
 BECK0NS OUR TRADE
Big Opportunities Other Side Of
 Gulf, Experts Assert

New York, May 23.-The golden opportunities that await the manu- lecturers, shippers and financiers of this country in South America were painted in glowing terms last night by five eminent men who addressed the thirty-sixth annual meeting of the Economic club of New York at the Hotel Astor.
 Each speaker had his own belief as to how this country could best cap- tdre and hold the South American trade. But all agreed that to the south, rather than to the east or west, lie the greatest possibilities for future expansion of the trade of the United States. Three speakers agreed that a powerful merchant marine was one of the essential factors to strengthen the bonds between the two Americas.
 Addresses were made by Paul M. Warburg, of the Federal Reserve Board who was the guest of honor; w. Morgan Shuster, former treasurer general of Persia: Professor Edwin R. A. SeEgman, of Columbia Univer sity; Dr. w. B. Aughinbaugh of New York University, author of Selling Latin America,'' and Howard E. Coffin, chairman of the committee of Industrial preparedness of the Naval Consulting Board.
 No Longer Dependent on Europe.
 Mr. Warburg, fresh from his South American trip as a member of the International High Commission, gave the mem bers of the club and intimate picture of Latin American conditions as they exist today.
 "The present world crisis has taught the South Americans the necessity of never again being found dependent exclusively upon the ships, credit or good will of Europe to reach their markets" he said. Tt is not only humiliation to the na- tional pride of these nations to be told from whom they buy in their country and to whom they may sell abroad, but their very economic life has been placed in Jeopardy by the temporary withdrawal of shipping and banking facilities and by the ex traordinary freight rates now exacted.
 Dr. Aughinbaugh, who has spent twenty years in Latin America, pro- posed a Pan-American news service, similar to the Associated Press as one instrument of linking the two Americas closer together, and as a means of shattering many false inn pressions which prevail in South America regarding the United States. M ost of South Americas news of events in this country are received through European services, he stated, and by reason of international jealousy are often distorted. He cited as an example the account car r1ed in metropolitan newspaper in South America of the execution of the four Becker gunmen picture of the men, standing on a scaffold with ropes about their necks, was printed, along with an estimate of the gate receipts from the event, to Which, it was said, New York state charged 50 cents a spectator.
 Expect U. S. to Remedy Situation.
 "They look to us to remedy a situation which is as unbearable to them as it is to ourselves They feel themselves at one with us in this re- spect, for it is for our own protection as we'll as theirs that the Stars and Stripes must fly over a merchant fleet large enough to secure the indepen- dence or the trade of this hemisphere II oA ''ioihi - 'ioy trust our financial emancipation will be an inonortant factor in securing greater financial independence to them''
 New Era in Foreign Trade
 pr. Selignnan said in part:
 We are entering upon a new era in our international commerce-tbe era of the disappearance of unfair competition, and the emergence of A. higher standard of business strife de-
 signed to secure equality. This is due rartly to the Clayton law, whose sig nifcance has only been dimly appre- 1 Ciated.
 'In order to develop our foreign trade, we need more education and more facilities. Tn education we need practical training of our mer- chants themselves, to adjust their output to the needs of the consumers. The new facilities needed are not alone those connected With the bank ing system, but above all those con- rected with a merchant marine" MT. Sinister showed how, since our European trade had been interrupted by the war, and our Far Eastern trade had become greatly hampered through a. shortage of ships, that the South American field, above all others, offered the greatest oppor- t. mites to the American exporter.