New-York tribune., 1916-07-09
Ry JOHN II. fAHEY
.r,.ue, President Of the Chamber Of
Commerce Of the United StateO

ro,uer President Of the Chamber Of
Commerce Of the United StateS)
...,,-.sht 1915 by The Tribune Assn (N.
y Triounel.
The United States has really begun
., 40 something about the development
= ,,s commerce in Central and South
.,eriea. instead Of Just talking about
it
For the fiscal year ending June 80,
,o,s the records will show that we
have ricked up the tidy sum OF $685.
e,o 600 OF new business in those coun-
ewes over ANYTHING we have ever had.
Tho steady development of our trade
.,..h ,hc Americas during the last fif-
..o~ wears has been very much greater
.t.~ most people realize Il has de-
,cforel TOO. without very vigorous
.,rna,frinc and reached its maximum
~. ~~oSt countries Just before the war
~..-,a,iv. there was sharp slump IN
.h, rsst half Of 1914. but in view Of
~ ,bo diMcu'tics the recovery IN 1915
IS cu,te surprising. In the latter
t.'f 81 last year the figures began 70
.r~b again until now they are the
t,s. we have ever seen. For the nS-
.,i YEAR of 1916 We sold TO the coun-
.r.os Of the pan-American Union
oss % the value Of $435, 100000
Wler We consider how unprepared we
,,,rc tor the opportunity presented IT
Sc..h America. especially because OF
o~- lack ~ ships and men 10 do the
brsiness. the accomplishment has been
most satisfactory.
Americas Now Have Cash.
Vow the leaders among these coun-
tres arc beginning 10 pile up cash at
, rs,id ratc with which 10 buy goods,
ro- .hcv are coming back from the
stock Of the war. In some cases the
-ecoverv has been almost as speedy
ss The rehabilitation Of general busl-
ross in ,hc United States Ii was IN
e,..sbie that II should be so, for the
Ar~ertre. Brazil, Uruguay and ChlH'
,s-ec..l.y. deal in commodities when
we're essential 10 Europe for the con-
5--, of the war As result, Europe
fss been and IS now moving all OF
these materials u is able 10 care ior'
and is paving good prices for them
The transportation faculties 70
Son.b America have been cut in half
since 1914. vet Europe bought so freeiy
from Argentine that for the full year
~ lol5 the figures just at hand snow
hat It's exports reached S5oO'OVV;VVV'
~ 5000 600 in excess OF lts pest
rrevious record in 1913. Ihls was
iur,p OF more than S2OO,OUO'UUV lroHi
the 1914 depression
Argentine's Trade Balance s3oo,ooo'Ooo'
Argentine has been buying less from
,be rest Of the world than for many
v.a-s. Her largest purchases were IN
iel2 a total of S421. 100000. More
ia, $50. 900 was Topped off OF this
amount during the first year OF the
war and the decline continued for l9Io'
when Argentine's buying was but one
bs,f that Of two years before. me
sr-nlus Of exports over imports
amounting 20 over S300,OOO,OOO last
v.a- represents the strongest favor
able balance in the history OF the
Argentine
our share in the Argentine business
since the war was the lowest for many
wear. until last fall. when the tide
turned and for the year ending July
I. 1915. our sales will exceed any
previous record we have made IN that
country.
About The same thing has happened
with Uruguay so far as United states
trade is concerned, and our 1916 year
Will be q record breaker in our trad
ing with that very friendly country.
Both Argentine and Uruguay have
been pouring out immense quantities
Of their staples, wheat. corn, hides,
beef and wool-to Europe and to us.
While they have been buying more
from US during the last II months
they also have been selling us more
By a good many millions than ever
before.
The increase in the money value OF
our purchases from these countries is
partly due TO the higher prices, but
there is also substantial quantity in
crease.
Uruguay has been in excellent shape
for some years. Its financial policies
are sound and the government is alert
and progressive. As result, its total
business grew steadily from year 10
wear until 1918, when II amounted TO
more than 500, 900, almost equally
divided between exports and imports.
Uruguay's Exports a Record.
In the first year Of the war the i'm
ports dropped TO sS7,OOOOOO, while ex.
ports held to S52,OOO,000. But in 1915
buying for this country and Europe
sent the export figure to S73,29O,on
the largest in the history of the coun-
try By more than S2O,00OOOO. Uru-
guayan imports for 1915 went below
those Of 1914. dropping to S34,979,o59
We bought from Uruguay 20 the extent
o. more than Sl0,O0O,OOO last year d
larger figure than ever before, while
our sales got back very nearly to nor
NAL Now they are mounting steadily,
and for 1916 our figures of sales Will
establish a new high mark
In Brazil, as in the other countries,
our biggest selling year was in 1913,
and this despite the depression in that
country during that and the previous
year because of the drop in the value
of both coffee and rubber. We lost an
cF