The Washington herald., 1918-04-03
U. S. TO EXPAND
TRADE SOUTH
Bankers Eofesee Big Busi-
nes with Latin Republics,
Holland Writes.

About ten years ago the late James
stiilmah. speaking in an informal way
and in private conversation, referred
TO the opportunities. which he de-
scrtoed as ineonceivably great. which
We're open to the United States IN
South America ana also in the Gem
'tral American nations. He said that
II these opportunities were accepted
then the years would not be many be-
lore our greatest international trade
would be with the South American
nations and this trade supplemented
oy our trade with Canada should OF
itself make the United States a lead
er IN the international trade Of the
world.
In order to take advantage of these
opportunities, Mr.. Stillman went on
70 say that at least i've years care
tul, systematic training would be re-
CURED He thought we should send
Representatives OF our leading indus
tries and Of our financial life to visit
the South American nations.
He was persuaded that It was es-
sential that American banks be es-
taolished in the larger commercial CEN
rs OF South America and he was
re that an intelligent, energetic and
y tactful body of young men should
sent to South America with IN
Mt to learn the Spanish and Portu-
suese languages and to gain good
knowledge of the business methods
and the racial characteristics which
distinguish the nations of the South
American continent.
Conhrmed nv CommIssiou.
Six or seven years after Mr.. STILL
man thus spoke Of our opportuni-
ties in South America the first Pan
american financial conference adopt
ed a resolution which had for it's
purpose the organization of a finan-
cial and Industrial commission which
would be authorized to make a re-
turn visit to the countries Of South
ern and Central America.
The Secretary of the Treasury,
Mr.. McAdoo, gave his warm per-
sonal approval to the plan and
afterwards in his Official capacity
appointed United States committee
which was charged with giving
practical form to the idea and with
organizing this great continental
excursion of American business
leaders.
The chairman of that committee
was James A. Farrell. president of
the United States Steel Corporation.
Today. Secretary McAdoo Is able to
make public the results set forth
in reports made by members OF this
commission to him upon their re-
turn to the United States.
1t should be said that the entire
expenses Of this excursion were
borne by voluntary contributions.
The government was not asked
to contribute penny and there
was no appropriation of public
funds for the expense.
NAbout fifty business men. who as
- whole represent banking, indus
trial and commercial life of the
United States, composed this or
ganiDa ton. which was called the
Latin-Anerican Return Visit Com
mittee. The reports sent to Secre-
tsry McAdOO which he was able to
make public in convenient form are
voluminous and. remarkable for con-
Ciseness as we'll as -thoroughness of
detailed Information. These various
reports will be Of great advantage
to the delegates who will attend
the annual meeting of the American
Export Association, which is to be
held in a few days at Cincinnati
One of the most prominent fea-
lures or suggestions set forth in
the report made to Secretary Nc
Adoo by President Farrell is the
statement that the various reports
contain evidence of the pressing
need Of the kind of legislation which
would permit the producers, manu-
factuFers. and merchants in the
United States to combine exclusive
ly for the purpose of export trade
President Farrell said in his
communication to Secretary Nc
Adoo: 1T has been all too true, as
the text of the Argentine report
puts il. that there are very many
persons who take it for granted
that unless a particular manufac-
turing company is large enough,
powerful enough to engage in di-
Eect exporting it has no alternative
Cbut to confine its efforts to the do
nestle market"
But. Mr.. Farrell says. "once more
the members of your committee feel
that the business community of this
country must be awakened to the
necessity of. and the full advantage
to- be derived from, such legislation
as the webb-Pomerene bill which
permits cooperation and combina-
ton in the export trade"
what Roosevelt Says
II Is an interesting fact or coinci-
dence that upon the day when this
report by President Farrell was made
public by Secretary -McAdoo, Col