The sun., 1918-12-23

the proper banking facilities to carry
or It's growing business, and American
had to resort to the
branches OF European banks to con-
duct their operations. This situation
has now been tcmedied entirely \and
American banks are firmly established
end ready to handle direct all the
phases Of American export and I'm
port service.
Facilities for FinancinG.
In an article entitled The Facili-
ties We Have for Financing a Heavy
International Business" The Ameri-
cas-, published by the National City
Bank OF New York. says:
American spirit and method in
banking is distinctive. fitting Amer
lean spirit and method in comm Nrcinl
business. American bankers abroad
see from the American point OF Wow,
they bring America in close touch with
foreign business communities. They
are there ready to give America the
benefit OF what they see in business
opportunity, even before the opportu-
nifty develops openly.
"They are doing business in their
foreign local communities, in more or
less intimate relationships with their
customers there and with other busi-
ness men. They have personal ac-
quaintance. American banking has
been able, in four years, to organize
the collection on systematic Ameri-
can basis Of details Of credit informa-
ton in several important countries,
and the organiZa ton Is still progress
ing. Our banks are now able to give
this credit Information and thus to en-
able our exporting manufac turers ana
merchants to choose good customers
for cultivation. and to sell to them
upon prevailing terms Of credit. Our
banks abroad. to make long descrip-
ton brief, can give Information about
business opportunities, business condi-
tons, individual credit &C. and thus
be Of Invaluable asststanos 70 the
manufacturer who wants to sell
abroad.
Four Years Apprenticeship.
"Our banks have built up q great in
ternattonal banking machinery for do
! ing foreign business right. During
| four years of the handling OF an i'm
mense war time business in every di-
! rection mostly on the basis of dol
/ lar exchange II has been necessary
| to learn a vast amount of detail in the
business OF foreign exchange that was
formerly left to the foreign banks that
really did Americas banking for it.
! haS haI n
pretty strenuous apprenticeship. They
have had big responsibilities thrown
upon them. The result has been n
fairly rapid requirement Of skill in
handling world business
ITO indicate what the expansion OF
Americas business i'll general has
been, the experience OF the National
City Bank of New York may give a
concrete picture. Since the establish
ment OF its first foreign banking house
in Buenos Ayres. Argentina, in the
autumn Of 1914 (the organization OF
which ante-dated the outbreak of the
European war; the foreign division OF
the New York banking house ha;
grown till 1t now employs more thar
400 men and women. nearly as many
as the whole bank employed in 1914.
Trained as speciaIists.
Men and women have been trained
to specialize upon the routine, the col.
lateral and even the unusual and emer.
gency phases OF il. Everything has
progressed, in quantity, quality and
intensity. In the foreign extension o!
its facilities. under the direct contro
of the foreign division, there are nov
} thirty eight foreign banking houses II
the spread OF banks over the world
includinr those Of the National City
Bank ami the International Banking