New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-01-04
new CHANCES In
FOREIGN TRADE
South America, China and
Russia Need Capital in
Form of Goods.
Nv GEORGE r. ROBERTS.

x.Director of the Mint, Assistant TO
the President of the National City
Bank
The year 1915 has witnessed a re-
narkable revulsion of financial and
industrial conditions in this country.
II began with industry depressed.
enterprise paralyzed. doubt and
fears pervading the atmosphere. 1t
ends with confidence restored and
industry reorganized and under full
Roadway.
The turn came when the pur-
chases OF foreign countries in our
markets reached such volume as to
give definite assurance that gold
would come this way instead OF
leaving US. This caused the money
markets TO relax and provided an
assurance Of credit upon which our
people could plan with security.
When the Stock Exchange re-
sumed business and it developed
that foreign holders were reluctant
to part with our securities. the way
WAS open TO a recovery of values,
and they have now reached a level
where capital can be obtained upon
fair terms for longtime financing
This is hopeful for the railway COM
panies. which are needing money Tor
the development Of their properties
and this in turn means steady do
nestle business for the steel and
other industries to take the place OF
the war business.
It will be conceded that war busi-
ness is too large factor in the pres
ent industrial activity for complete
satisfaction with present conditions
but the volume Of other business
now waiting for chance to ct IN Is
very large. The country needs to DO
q great amount of constructive work,
and will do it if confidence is com
pletely restored.
Possibilities in Latin America
Another hopeful feature OF the
situation is the interest developing
in the opportunities for investment
IN foreign countries, particularly
the countries of Latin America
They have a wealth Of resources
and our own industrial progress re-
ouires the supplies Of raw materials
which they hold. These countries
DC not require capital in the form OF
money. investments in them Will
take no money from this country
The capital will go out in the form
or machinery, tools. equipment
building materials and supplies the
making of which will afford work
for our Industries.
There can be no question that d
practically unlimited amount OF
business of this character is 10 De
had. not alone in South America
lint in Russia and China, and IN the
rehabilitation Of Europe. The only
question about it is whether our peo-
ple are ready TO cooperate as III
,o.tors in outside undertakings, as
uo investors of Great Britain nave
been doing very profitably for many
wears and as the people of Germany
have been doing with equal success
i'm recent years.
This movement ca rot develop
without method and organization
The individual investor cannot go
abroad TO look up opportunities, nor
would it be prudent for HIM TO par
,icipate unless ample guarantees
arc afforded as TO the soundness oil
the enterprises offered. a respon-
sible organization, headed by men OF
known experience in the enterprises
which arc undertaken. must investi-
gate the opportunities. organize The
properties, put them into successful
operation and manage them.