New-York tribune., 1918-03-06
Must Work to
Hold Trade Won
In War Period
Banker Says South American
Industries Require Greater
Financial Support

After the war the United States
should find it comparatively easy to re-
tain the present volume of her trade
with South America, but the nations
real problem is to prepare to retain
her existing proportion of the worlds
trade with the nations to the south.
This is the opinion of Sigmund Metz,
assistant manager of the foreign de-
partment of the Guaranty Trust Com
pany of New York. Mr. Metz recently
returned from Buenos Ayres, where he
was stationed for two years.
"The same volume of trade would
mean a reduction in proportion" Mr..
Metz said yesterday in discussing
after-the-war conditions in South
America. "In other words, the United
States would occupy a lesser place in
the ranks of nations competing for
their business. Therefore, if our po-
sltlon is to be maintained we shall
nave to increase the volume of our
trade, and to this end all our efforts
should be directed. The whole answer
as to whether we shall be able to main
to work for it,
Prestige Trade Winner
The benefits to come from expanded
trade with South America, Mr.. Metz
said, are threefold- namely: ga cheap
ening of the cost of living for the
masses by bringing within their reach
the infinite wealth in natural resources
of the countries to the south of us.
which are SO blessed by nature" pro-
vision of occupations for greater num-
bers in this country and the strength
enlng of economic bonds" will promote
the humane relationship of two large
units Of people.
"A warning against the get-rich-quicl>
attitude Of adventurers is given.
Ignorance and incompetence." Mr..
in South America. The man who is a
taNure here is not likely to be a sue
cess in South America; but. on the
other hand, the man who is a success
here is not certain to be so unless he
possesses adaptability.
prestige counts in South America
There is no substitute for it. Pushing
statesmen cannot establish it. Talk or
literature cannot spread it. 1t can
come only from long, painstaking de-
votion to interests intrusted to our
largesse. But there is no need to
worry. We are on the right road The
opportunities are there. 1t is up to the
United States to understand them. de-
velop them and multiply them.
I'm banking, which is in the hands
partly of native and partly of foreign
owned or controlled institutions, one
field has been neglected. There is no
institution whose special object is to
support industry In fact. it is very
difficult for industrial enterprises in
South America to receive any banking
support at all except where some of the
big private banking houses are directly
lnterester. The ma jority of the banks
ind 1T impossible to lock up their re-
sources to the extent required by opera
tlons OF this nature. An industrial
oank, or rather finance company, with
branches throughout South America,
would have infinite opportunities. With
adequate capital and progressive man.
agement. such company would be in a
positlon to support existing industries.
participate in the new ones to be Gre
ated, and thus assist in developinr tho
resources of those rich regions, reaping
handsome profits while serving the peo-
pie OF those countries, of the United
states and of the world at large.
Chance for New Banks
I'm the. matter of Improvement of
banking. facilities in South America.
the surface has barely been scratched:
that which has been done is inlinites
mai compared to what is still undone,
and that, in one direction, at least. a
virgin held for enterprise still exists"
The general condition of South Amer;ca
Mr. Metz concluded, is one of boom.
and ITS business activities will pro-
gressively increase after the war.