New-York tribune., 1918-06-09
Argentine Credit
For United States
Now Exhausted
Further Loans to Meet Trad,
Balance Expected-Argen
tina View

Recent credits obtained from the
Argentine government in favor Of the
United States having been exhausted,
it is understood that further loans
will be arranged in order to stabilize
exchange between the two countries
Germs with exchange for remittance
purposes.
The newspaper ia Nacion," of
Buenos Ayres, Argentina, discussing
the situation existing in trade rela-
tions between the two countries, said
recently:
"Tho governments of both countries
have arrived at happy understanding
for the sterilization Of the commercial
exchange values. Under this regime
transactions have been strengthened,
and relations between the two coun-
tries tend to become closer every day.
The S4O,OOO,OOO at which the amount of
the deposits in our embassy was fixed
will soon be raised to $60,000,000, as
we have anticipated for a long time
past. These sums in reality, represent
the volume of the merchandise which
Is traded in between the two markets,
they are values of real things and not
mere figures of fictitious speculation.
They require, clearly, the vehicles
which shall make effective the trading
by the transport Of the things. and it
is probable, though not certain, that
the government Of the great republic
Of the North will send its ships in or
der to maintain the interchange of the
raw materials with which we can sup
ply it to feed its industries. We know,
III fact, that the United States will man
with American sailors the Dutch boats
embargoed in her ports, in order to de.
vote them to the service Of Continental
trade, and that the fleet, augmented by
the new constructions, hurriedly being
launched, will be able to meet the ur.
gent necessities of trade with the
Southern countries.
North American statesmen cannot
be blind to the fact that, if they ne
SiceI " sup Inelr manu- 1ctureS their
Industries will suffer grave conse-
quences, and, if they only pay attention
to extracting our primary products
very soon the aforementioned sum of
$6O,000,OOO, which can be deposited at
cur embassy in Washington. will prove
TO be insufficient. This situation, to
our thinking, calls for diplomatic ac-
tlon on the part Of our Foreign Office,
in order to procure from the govern
ment Of President Wilson the compile
ton of the financial negotiation which
stabllizes exchanges on a basis of COM
mcrcial reciprocity The State Depart
ment of the Union could not but re-
celve with pleasure request indicating
the .deslrability of permitting exports
to Argentina on the steamers sent to
take away our harvests, organizing the
loading operations far enough in ad-
vance not to occasion delays, and with
the promise on our part of giving
preference in our ports to unloading
operations. Such a suggestion would,
without doubt, alleviate the precarious
situation of our commerce. 1t would
bring for our commerce certain mate
rials and articles of merchandise which
we at present lack, and it would obvi
ate thousand and one inconveniences
of financial and economic character
related to the value of the exchanges
and to the amount of the gold deposits
IN the Argentine Embassy"