The Birmingham age-herald., 1916-04-22
ANOTHER POINT OF VIEW

| Ii Peru should successfully negotiate 1! within a few weeks for an American | loan--it may be as much as $20000,000- 1 the transaction will be one of a number l ln which South American nations have taken part which make it clear how com
 pletely Great Britain has enforced her
 embargo upon investments of English capital outside of Great Britain as long as the European war lasts. Peru has all
 ways depended chiefly upon Great Brit
 ain for such financial assistance as the government stood in need of.
 It's greatest negotiation of that kind was perfected little over a quarter of century ago. When completed it was represented by an English syndicate of which Michael P. Grace, brother of Will liam R. Grace was the organizer and the director The syndicate received val
 uable concessions from Peru as security for a large amount of money imperatively needed by that republic. One of the achievements of that syndicate was the completion of the railroad which climbed the precipitous slope of the Andes n1oun- tains to the divide 14000 feet above the sea level and was later continued until | It furnished transportation for the mines of Cerro da Pasco. These mines are reported now to be producing 70O0O 600 pounds of copper a year, and reflect the courageous investment of J. B. IIaggin. England is now unable to assist Peru and has also been unable to assist Chile or Argentina. A considerable amount of English money is invested in Peruvian securities. England has in return for these investments secured valuable trade with Peru. Now, there comes opportun- 1ty again to demonstrate that the Amer ican bankers are not willing to take un- due advantage of Engiand's embarra ss-
 nlents. As was the case with the Argen tune loans made in this country, so also In the case of Peru, our bankers are not likely to make one of the considerations or the loan the granting of Peru of cer- Jain concessions which would be in effect grabbing of England's trade. The loan Flf It be made at all, will be consum- mated after a sort of informal or tacit understanding with Great Britain that she is not only willing but glad to have
 the United States assist Peru at this time. or course. if the United States
 lehas Peru S2o0Oo,O0o there will follow certain reciprocal trade but this will come naturally and will not represent any attempt on the part of the United States
 to make use of the loan in such way as
 would make 1t appear that we are grab
 plng England's trade in Peru.
 FARSIGHTED FINANCING
 Some of those who are really leaders ln much of the international financing
 that mas been in progress since the Euro
 peah war began have for more than a
 year been convinced that in the long run IL would be harmful t. tne United States
 II our merchants, manufacturers and
 bankers hustled, so to speak, in order that they may take advantage of Eng land endorsements so far as foreign trade is concerned. A few. days ago one Of those who ranks among the first five or six of America s international ,finan- ciers said that undue activity of that kinda grab-all spirit-would after a while react very unfavorably upon the United States, whereas if we do not take undue advantage of England's embar- rassment we are likely within the next two or three years to attain a position which before the auturn of 1914 it would have been deemed impossible for us to secure until the md-years of the pres- ent century -s. - A
 Couldn't Help But Answer Right
 From the University of Michigan Avg
 wan.
 Professor: What three words are used
 most among college students2''g .
 Weary Fresh: II don't know