Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-10-19
FOREIGN VISITORS
TO TOUR COUNTRY
To Present Actual Conditions
Abroad to American Manu-
facturerS and Financiers,

At the close of the international
trade conference, at Atlantic City,
which ts now scheduled to begin
October 20, the foreign delegates will
tour the United States. visiting the
chief industrial centers and meeting
in person many of the men upon
whose decision and action will depend
the financial welfare of the allied ma
tions and their rapid return to full
production. The delegates will appear
frankly as buyers and as representa-
tives Of buyers who must. for the most
part. ask for credit accommodation.
They will be prepared to act, indeed,
as economic apostles. answering oues-
tons as to conditions In their respec-
tive countries, and explaining, from
the European point of view, the neces.
sity for American participation on q
large scale and the mutual advantages
which will arise therefrom.
Testimony From Participants.
This tour of leading European bust
ness men will thus constitute the
strongest single effort yet made to
interest American business and In
dustry In the present world situation.
and bring to them q realization of
the vital necessity of the investment
program that is now being advocated
by banks throughout the country.
Upon the hearing accorded them and
their own ability to explain the needs
of their respective countries will de-
pend. in no small measure the future
welfare Of the world.
An American View.
Americans. however. will be under
no necessity Of depending solely upon
the testimony of men who have SO
immediate an interest in the quick
fotation of large credits. There is no
lack here of expert testimony from
our own citizens who have seen Euro
pean conditions at first hand. No at
tempt has been made to paint the sit
uation in roster colors than the ac-
tuality shows.
F. H. Sisson. vice president of the
Guaranty Trust Company of New
York. who returned recently from a
comprehensive trip abroad. said. i'm
mediately after arriving. that "a
close inspection Of the situation in
Europe today is certainly not wholly
reassuring. yet in spite Of the many
evidences of economic and social dis
turbance. there are abundant reasons
to warrant the belief that Europe will
work out her salvation and that CIV
ilization is not lettering to it's fall. as
some of the alarmists would have US
believe" Mr.. Sisson believed that the
coming winter will be the real test Of
| the situation and declared: when
people are cold. hungry and idle, the
ground lies fallow for revolution. In
spots. and possibly in large areas.
| that may come. but against it is the
| instinct Of these people for creating
and accumulating wealth and for so
cial order. In the long run / feel that
1t can be confidently asserted that the
constructive forces will win the day,
although there are certain to be diff
cult situations for them to overcome"
Belgium's Recovery.
OF the outcome In Belgium, particu-
| larry. and In England. Mr.. Sisson was
sanguine. as other observers have been.
The French fiscal policy he Judged to
have been unsatisfactory. and he regret
! ted that the dangers Of the situation did
not seem to have occurred to the people
OF France. Throughout Italy and CEN
trail Europe the coal shortage Is factor
/ in the prevailing restlessness, and must
be overcome.
"Of course" he concluded. "the OBJ
vious lesson of the whole European sit
| uation is that it can be saved only by
production and thrift. This the Euro
pean economists and financiers thor
| ouhgly understand. and they are doing
| everything in their power to stimulate
such activities"
Some such picture as this will doubt
less be painted by the visiting delegates
| They. doubtless. will point out to the
| business men whom they meet the IN
| Independence Of American and foreign
| industry-how necessary to each side Of
| the other. and how impossible ii would
be for one side to suffer a calamity and
| the other to remain untouched. Assist
| ance from America Is essential to the
recovery Of Europe. but that assistance
| oEce given, both parties to the agree
| ment will inevitably profit when produc-
| ton once more comes into it's own.
Investments in Trade.
| The final aspect of the situation.
which is a matter of less concern to
the visitors than to the American
| business man and manufacturer Is
| that which has to do with the present
status Of American foreign trade. The
scale at which exports are moving
| today will not, probably, continue for
many months. The immense demand
which followed the reopening of the
slightly. II sales are to continue.
| they must be financed on a broader
| basis than heretofore. If they are
| not SO financed, there will be a tend
| ency. certainly in the field Of manue
featured products. for trade to drift
| back into the channels which were
used before the United States was
projected SO dramatically upon the
| scene Indifference or even luke
warmness on the part Of the Ameri-
l can exporter will lose for him the
| advantage which he has gained. This
is the psychological moment for ac-
| ton by Europe. 1t Is no less the
| psychological moment for action