Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-07-15

come in to do business in France That
policy is undoubtedly n mistake. They
ought to welcome the energy and brains
of outsiders who would help them to
get going. There has been enough
altruism and amateur charity in re-
gard to France.
What France ought to do is to let
capital and brains flow in and give
vitality to her whole industrial life.
She should do away with her restric-
tions. But. in fact, she mas become
more Chauvinistic than ever. Do not
be deceived, however. by the possibil-
ity of recovery in France. France has
been very sick, but there is nothing
wrong with her constitution. Foreign
crs can do business in France IL they
will only learn how to go about it.
Americans particularly do not know how
to deal with Frcnchmen. Americans
are too direct and too blunt.
"No Frenchman wants to talk bust
ness in the first interview. and much
of the business Of France is done by
indircctiOn. One must take time to
find out where the lines lie and in direct
contact never take Frenchman too
seriously. The field of industry in
France would be difficult for an out
slider but in the field of finance there
is unlimited opportunity.
| You ask what America should be
doing in Europe. Europe is fairly
crying for brains and capital. There
are possibilities everywhere, and there
are particular possibilities in some of
the byways of Europe that capital does
not think of. Portugal is one. Clear
sighted engineers with a business sense
would find many opportunities in Por-
| tugal and in Spain. There are great
mineral resources there and an excellent
climate.
Cone Of the old regions of the world.
Mesopoatamia, will be made to flourish
like a green bay tree if little capital
and some brains would get hold of the
situation and revive the irrigation sys
TEN of ages ago. In the Balkans and
in the east there are coal and oil tO
be developed. In Rumania there are
mineral and agricultural possibilities
The Germans made no mistake in select
ing the Near East as a place for in
, vestment. They organized banks there
, and the banker did not take chances
lie knew what he was about. There
is banking vacuum from the AdriatiC
east.
IF America will study these oppor
tunities and will link imagination with
an actual knowledge of existing condi
tiOns, she can, with her ways of deal =
. ing with things, make new world out
of these backward countries. The
greatest export America could send tC
those countries would be men with a
knowledge of construction, of finance
and of management. These countries
have had bad government so long that
there is no impetus left in the native
people, and they have made no prog
rcss, in spite of having natural re-
sources that would have supported great
development.
"The course for America to follow
is. first. to investigate, to prospect, then
to construct. retaining an interest in
the junior securities and keeping the
operation in their own hands. There is
an enormous field for profit to Ameri
cans and for service to these people.
There seems to me much sound sug
gcstion in this interview, as well as
informing discussion of the European
railroad situation.
Copyright 1919 BY Macmillan Company
MIR. Nanderlip tomorrow will discuss
Coal and Credit Italy'S Need