The Birmingham age-herald., 1916-04-06
AMERICA IS NOT TRYING ID GRAB TRADE OF ENGLAND Reaction After War Would More Than OverbaIance the Benefits Gained
 7
UNITED. STATES
 MUST GO SLOWLY
To Take Advantage of Countries At War Would Invite Disaster-Brit-
 ian Is Glad to Have America Do Work She Cannot
By HOLLAND


 tina has approached the United States successfully several times since 1914 seek ing financial aid. It is probable that be- fore the year is ended another applica- tion for financial assistance may come from that flourishing republic. he lead ing national bank of the United States is about to establish branch banks in Chile and there are to be other evidences of financial assistance by the United States to South America.
 The leaders in international financing ! know that these ventures of the United States into South America are not made with intent to take advantage of Eng land and by harsh and arbitrary meth- eds which she cannot now resist on &C., count of the war to attempt to take away 1 the South American trade which Britain has for so long dominated.
 For these South American ventures have been made and will continue with the cor dal approval of England. The leaders ir ences in American finance are convinced that even from the point of view of en- 1 frightened self interest it would be not only | inexpedient, but very harmful, if this l country at this time and while the war lasts, undertook to take advantage oi Englands desperate struggle " con centrates all her energies, so that, if pos | sible we could grab the trade Britain has secured in other countries.
 NEEDS FINANCIAL AID Argentina needs financial aid Chile needs banking facilities. At this time 1 England is unable to assist either of these countries, or, in fact any other in this way. Her resources and her ener- gy are concentrated upon the struggle on the continent of Europe Therefore, Eng land has been not only willing but gla6 to have us assist the countries which heretofore she has aided Her statesmen lave been informed that the leaoers in industry, commerce and finance in the United States are convinced that no mat ter what trade we might grab now by taking advantage of her it would result in serious reaction which would be harm ful to this country. This opinion was ~--- pressed this morning by one of the lead 1 ing financiers of the world.
 l On the other hand, if the United States proceeds wisely at this time, not neglect 1 ing reasonable opportunities not taking unfair advantage of, other nations, prepar- l ing for healthful competitor for the, trade l of the world, after the war is ended 1 we should within two or three years hn,-r attained position which two years ago we could not have expected to attain | until 50 years had passed Among the I leaders who take this view is understood common with thrse who have had pre- emne.t part in international financing.
 STUPENDOUS UNITS
 The people of the United States have lit tic comprehension of the stupendous uni-s which symbolize or typify our present in- ternational relation, speaking now from the commercial and financial point of view Some of those who have been brought closely in touch with these vast movements and face to face with the great units say that they simply staggef the imagination.
 For instance while speaking of these things of magnitude this morning, one of the international financiers said that ii was without precedent in the history of the world and the dealings of nations one with another that such change as has occurred within the past IS months in our relations with Europe has taken place. For nearly half a century the United States has depended in great measure on Europe for the capital which made it possible for us to develop our railroad
 
 were in debt to Europe at the beginning of the war by so much as $5,00n, eco. COG. Now we are paying off this debt very rapidly, and we are doing it by stupendoCs exports not only of war material and mu- nitions, but of other commodities Should the war continue another IS months it is conjectured that we should have paid off this stupendous debt by our exports. AFTER THE WAR
 After the war is ended other nations and especially the beigerent nations, will be compelled to buy for a long time vast amounts of raw material of the kind which the United States alone can fur nish The leading financers do not be- lieve that after the European war is end ed there will be a great flood of emigra ton to the United States, for the chief embarra ssment these nations will meet with in recuperating will be the lack oi labor They may be able speedily to re- store factories, although in doing that il will be necessary for them to buy large amounts of raw material in the United States. But it will be far more difficult to equip the factories with artisans and wage-earners. For that reason, it is thought improbable that the belligerent na ations will be able immediately after the war to market large amounts of com
 modities in the United States. They will
 
 commodities in any large amount
 All who are competent to give good judgment respecting conditions in ths United States at present unite in sayins that we are now very strong; that there are no dangerous tendencies observed that the disposition of the great leaders l in industry. commerce and finance is strongly opposed to any aggressive, rude l or arbitrary attempts to take advantagt of the embarrassments of the belligeren nations in such manner as would enabl, l the United States to snatch away theil | markets. But instead the feeling com
 lnonly entertained by the leaders is on, | which entails fairness and a willingness i to aid although that does not mean tha i the United States should not make any I attempt to be prepared for the great com mercial struggle which is sure to come not immediately, but within few year after the European war is ended.
 Bold HOld-Up
 l Cheyenne, Wyo., April 5.--Union Pacif,