The Bridgeport times and evening farmer., 1919-09-19
DELAY IN PEACE HOLDS UP TIE WORLD BUSINESS President Makes Point In Addresses Which He De
 llvers in West. NEW BANKING
 ACT MAKING Financial Conditions Cause Present Chaos in World
 Conditions.

Washington, n. C., Sept. 19-Prcs- ldent Wilson has drawn attention In many of his addresses in the West to the importance of the United States rStifyipg tho Peace Treaty and League of Nations iu order that ire business of the world may be resuIn- cd at once and that America may participate Co tho immense extent tho possibilities warrant. As indica tive or 3's belief in tho approval of the treaty, and as preparation for Amer aCa's part In the battle for world tS'ado conquest, thC Senate has pass cd a foreign finance banking bin and 3t Is expected tRe House of Re pJ-cscntativSs will takO similar action soon, mcidcutly, this measure is an3y made possible by the strength or the FNsNieral RCScrvC Banking Act. ono or tho greatc-st legislative tri- 0nophS of tho Wilson Adn7iristra tion-
 This blla fs a development of the Owen roreiS9s finance bill of the last session, one of the Administration nseasuvcs thag failed of passa re. Sem ator Owen, one ot the architects of the Federal Reserve Act. suggested 10 Srnacor EdEo that a Republican had better haud!N tho measure iu this COoSTcss, hence d. now bears the Jersey Scns tors name.
 Though starSinr ont on the Owen principles favor5nz a foreicn bank ing corporation with American -pv- ernHentg- participation, the Fdcc bill hos become an act practically limited to private banking activities under Federal Reserve Tonrd sslDer- vision As such 3c had rha approval of prominent hanR5ug interests and. with some amendments, was oked by the Federal Reserve Board.
 The chautic conditions brought on by the World War are accentuated ar the present tlrls by financial and industrial uncartaiat ttas due in Iar-e measure to doubt as 10 the rate or the IseayGs of <a-'Nns and stability of international finance American naanufacrurerss and merchants are cha~-y OF seeking foreign business be Cause of the tremendous balance of trade iu favor oF The United Sta ree in thr last t'yree years. now amount i~r rn ssEsH twelve billion dollars Wl1h the Peace Treaty signed and G.e3er brought ogt the present chaos. they are more than desirous of as sisc1nE in the reha Utilization of Eu- rope
 y-, offset tlais tremendous bala1ca
 
 and securities but tho bill. of c0ursr is far from being paid In full. The present time Is an eme-EOncv period for Europe and it's needs are of a drastic uD+UrS- If America does not give Europe the credit r. asks be- cause is CanucC realize on tho bills of echange, there will be uttIe or no trade. it is pointed out The Ar,~-.i- can exporter is hssitat ing because he feels that he has already gone Inc limit In eEteoGtnE his intprna iionaI credits. and fears to risk more with out specific assistance, from this side Of the watrr
 IL Is believed The foreIgn finance bill win asslsr Ia fliiiu- this want Its proponents point out that it will fn- c5Eiats lutc-aaEa-.1i trade by fur nisalny a means Of nlo-Ssting tho bI11s or exchange. TAss Vriu ena bse the smaller b1si.ses- men 70 have he sane ss sci'it5ss in inte-c1tsog-7I trade nGT' c15ryeJ by lar=ar firr1s with cio,s0 ccD-es:tlDn with big banking eirr7s tl5at speclsl-ze in business aCrUrs the seas.
 Ju tho vuly- ccrly days of the World War sDtre Americans saw the opportunity Co se5ze the bulk of the German trade su South America They
 
 ties constituted the greatest barrier South Americans were accustomed to long credits from England and Ger many and demanded the same from America Ninety day bills were un- known there. and six months was the usual minimum
 The National City Bank of New York was fhe first to cstablish bank ing branches in leading South Amer ican cities. and it was followed by other concerns from New York and Chicago until now American export CTS have laid the foundation for large and permanent business with this nations neiEhbors 10 the south
 With similar private banking cor poraIions engaging in like work in the European and Asiatic fields un- dor the supervision of the Federal Reserve Board. it Is felt by exporters and financiors that the ground work for a vastly increased American for eign trnde will have been laid, and that the reaping of the harvest will begin to materializc soon after the Peace Treaty receives sanction of the Senate.