New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-05-23
Economic Club Hears OF
Opportunities for Trade
There.
WAR HAS DRAWN TWO
CONTINENTS CLOSER
Three of Five Eminent Speakers
Agree Powerful Merchant
Marine Essential.

The golden opportunities that swsit
the manufacturers, shippers and finan-
cers Of this country in South America
we're painted IN glowing terms last
night BY five eminent mon who ad-
dressed the thirty-siNth annual meet
ing of the Economic Club Of New York
40 the Hotel Aston.
Each speaker had his own belief as
TO how this country could best capture
and hold the South American trade.
But sll agreed that 20 the south, rather
than 10 the east or west, lie the great
est possibilities for future expansion
Of the trade o. tho United States.
Three speakers agreed that a power
full merchant marine was ono Of me
essential factors to strengthen the
bonds between the two Americas.
Addresses we're made by Paul NJ.
Warburg, Of the Federal Reserve
Board. who wss the guest Of honor; ".
Morgan Shuster, former treasurer gen.
ersl Of Persia; Professor Edwin r. A.
Selirman. OF Columbia University; DR..
". +. Aughinbaugh. OF New York Uni
versitv. author OF Selling Latin Amer
ica." and Howard L. Coffin, chairman
Of the committee Of industrial prepar-
edness Of the Naval Consulting Board
vanderlip Elected President.
Frank A. Vanderlip was elected
president Of the club TO succeed VIII
lam r. Wilcox Henry Morgenthau
and Daniel Willard were elected wee
presidents. The executive committee
during the ensuing year Will consist OF
William r. Wilcox. Henry =. DAWSON
Theodore y. Vail. Morgan j. Obrlen
and Michael Friedsam.
Mr.. Warburg, fresh from his SCUM
American trip as member OF tne
international High Commission, gave
the members Of the club an intimate
nicturo of Latin-Americsn conditions
as they exist to-day .-,.
"The present world crisis has taught
tho south Americans the necessity or
never again being found dependent eH-
clusivelv upon the ships, credit or
GOOD will OF Europe 10 reach tnelr
markets" he said at Is not only
humiliation TO the national PRIDE OF
these nations 20 be told from whom theY
NAV buv i'm their country and 70 Whon
,bev NAV sell abroad, but their very
economic life has been placed IN
;conardv by the temporary wlthdra"s,
~ sbipping and banking facilities ana
nv the extraordinary freight rates no"
n Augbinbaugh. who has spent
.,.ontv years in Latin America pro-
nosed Psn-American news serllce
sir,ilar 20 the Associated Press as one
instrument Of linking the two Americas
closer together and as a means %
SCATTERING many false lmpresS'on'
wbich prevail In South America
carding the United states. MoSt o.
South Americas news Of events IN .,Is
.C,1,trv arc received through European
services. he stated. and by reason OF
aforementioned jealousy arc oifen as
torted. He cited as an eNanNI tue
sccount carried I'm metropolitan
roa,enaner IN South America OF the
execution of the four Becker gunner
A ricture OF the men, standing on
ecs4old with ropes about their necks'
VAS nrinted. along with an estimate
81 the gate receipts from the event 70
which. N was said. New York state
charged 80 cents a spectator
Expect L. 5. to Remedy Situation
"They look TO us TO remedy sltua-
tior which is as uubearable 10 them
as IN is TO ourselves. They feel them
selves At one with us in this respect,
for IL is for our own protection as
we'll as theirs that the stars aud
Stripes must fy over a merchant heet
large enough TO secure the indepen-
dence OF the trade OF this hemisphere.
Furthermore. they trust our financial
emancipation will be an important fac
tor i'm securing greater financial M
dependence to them
New Era in Foreign Trade.
DR.. Seligman said IN part:
I've arc entering upon nc" era IN
our international commerce the era
Of the disappearance OF unfair com
petition and the cmergence Of higher
standard Of business strife designed
10 secure equality. This is due partly
10 the Clayton law, whose signfcancs
has been only dimly appreciated.
"In order to develop our foreign
trade We need more education and
more facilities. I'm education we need
practical training Of our merchants
themselves, 20 adjust their output to
the needs Of the consumers. The new