The Birmingham age-herald., 1916-07-15
BILLIONS PLACED
 IN SOUTH AMERICA
 BEFORE WAR CAME
But United States Now Has to Furnish All of the
 Needed Funds
PEOPLE DOWN THERE
 VERY PROSPEROUS
Secretary Redfield Finds That Balance of War Trade in American Favor Is Approximately Two
 Billion Dollars


 Billion Dollars By HOLLAND New York, July 1.-(Special)-In 30 years, or approximately from 1884 to 1914, Great Britain and Germany, and to some extent France, lent to South Amer iean nations an aggregate of $4,000 OO0,000 Their financial aid ceased as soon as the European war began. In return these nations, and particularly Great Britain and Germany, gained much the greater part of the trade of South American na- tons and their exports to those coun- tries in the 30 years were in money value greatly in excess of $4,9OO,OOO GOO The United States since the European war began has lent to South American nations approximately $100,0 ,00O, the greater part of which is represented by | loans to Argentina. Within a year or two, our bankers will probably be called
 upon to make further advances to South American nations, but it will be long | time before our loans to those nations, I including Central America and possibly
 Mexico, will approach the great figure
 which represents Great Britain and Ger mans loans to those countries.
 l Nevertheless, there is now an authori- tative statement which shows how
 greatly our financial aid given to South American nations has stimulated our
 trade with South America In the 12
 months which ended June 30. 1916, the money value of our exports to South
 America and Central America was, as | reported by John H. Fahey, former pres | ident of the Chamber of Commerce of the l United States, about $450,9Oo 900, and this was an increase of about third as compared with the trade the previous year.
 l Early in the winter of this year, Err nest F. Wands returned to the United States from a sojourn of several months
 in South America. He was familiar with commercial and agricultural conditions | there He was the confidential repre- sentative of the state department at | Washington when Philander c. Knox was Secretary of State, and in that ca pacty served the state department while upon several prolonged visits to South
 America and two or three to Central America.
 |
 | Shortly after Mr. Wands returned to | New York he said that he found, espe- cially in Argentina and Brazil that the | people were beginning to be abundantly | supplied with money. They were receiv | ing much larger prices for their crops | than they had ever before received, and were selling these crops readily. Almost all of them were exported. The result | was that money was never so plentiful with the plain people of those countries, and MT. Wands expected to see continued and increased exports from South Am erica and Europe and also to the United States.
 1 Some of those who heard MT. Wands' statement were inclined to doubt it's ac- curacy. This, however, was due to a con- 1 fusion of thought, there having been made no distinction between the people and the governments Argentina as nation was not known to be in need of money for governmental purposes. That was true also of Brazil. So that it was presumed that if Argentina and Brazil were approaching the money market of | tho United States for loans there must ce great need of funds in those countries. l Now there is no doubt about the pros- perity of the people in some of the South American states, certainly in Brazil, Ar gentina and Chile Bolivia would be very prosperous if only it were possible for
 
 ores But Bolivia cannot get those ores | to England, and as the Bolivian govern ment relied chiefly upon the export duty charged upon tin ores for governmental revenue the nation was somewhat em- | barrassed However, there is now a req sonabe outlook for large and increasing shipments of Bolivian tin to the United 1 States, where already successful tin smelting plants have been established, although not as yet upon large scale.
 SECRETARY REDFIELD REJOICES | A little over year ago Secretary of Commerce William A. Redfield ventured to predict an export trade for the United States in 1916 possibly of as much as | $3 000 000, 0O0 A year earlier, having de- tected symptoms of a great increase in our export and manufactured commodi- | ties, Secretary Redfield was quoted as | having said that he thought within a year the money value of our exports of manufactured articles would be approxi- mately $1,500, 100000, and would be greater l than the money value of our exports of agricultural commodities.
 Now the Secretary, indirectly at least, admits that he made an underestimate of the money value of our exports for the fiscal year which is just ended. He could not have chosen a better audience for an announcement of this kind, for ne was nedTu py some ouUU SdlcSlHcH anu executive who took part in the enthusiasts tic worlds salesmanship congress at De- troit These men will appreciate the meaning which lies behind Secretary Red- fields statement that the export trade of the United States for the F months ending June 30 was of the money value of about $400O, 100000, while the import trade was of the money value somewhat in excess of $2, GOO, ,000,0 900. These figures are in substantial agreement with the state- ment recently made by some of the financial leaders in this city. They esti- mate that the international trade balance in our favor for the fiscal year will be somewhat in excess of s2,000000.000. world trade aggregating s6,Ooo0oO,0oo is without any precedent and it is regarded of importance that a considerable portion of this represents our trade with South and Central America and larger propor- ton represents our trade with Canada In both these countries the United States has gained trade very rapidly, and it is not war order trade. To both Canada and South America the United States has given financial aid in large amounts.
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 Sunday School Workers Meet
 Pelham Heights July 14.-(Special) ) The statewide training school for Sun day school workers here opened yester- day with vigor and enthusiasm. The ar- tendance for the first day was much larger than some expected, because word had not reached prospective students <1 <.F I, at olh ,1