The sun., 1919-07-07
ASKS BROAD POLICY .
TO DEVELOP TRADE
Expert Says Attitude Toward
Latin America Is Not Lib
cral Enough.
EUROPE MORE ADAPTABLE
Manufacturers Here Do Not
Take Pains to Win and
Hold Business.
ny A. A. PRECIADo.

ny A. A. PRECIADo.
Specially Written for the Latin Amert-
oan Section Of THE Sun.
Sometimes one worries about the mar
roWness OF mind OF some OF our lead
Ing business men. Sometimes one won
ders how II happens that we as ma
ton have shared the good will and the
confidence and the friendship of 80 many
OF our neighbors in the face of such
physical dellnquencies in the abstract IN
some OF our leading citizens as noted in
the first paragraph,
Just the other day the writer over
heard a we'll known authority on inter-
national commerce say:
am opposed to this theory of MAX
ing investments In foreign countries In
order 20 develop our trade; am OPP
poshd also TO the theory that We have
got to establish our banks in the prin-
clpal commercial centres to bolster up
our business. have no patience with
the walters who insist that wo must
nave merchant marine OF our very own
In order to get the foreign business.
why, just look at our export business
for the last nifty years. We have always
been able to sell goods. and In practi-
cally every competing centre Of the
world Why, then. should we listen to
those divine authorities on the subject
OF Foreign investments. banking connec-
tons and merchant marine? II we have
got along without these Necessities
IN the past | suppose We can muddle
along In our own way In the future"
Or course. there is more truth than
poetry In these remarks The United
States has never been recognized as the
worlds banker-not until recent months,
europe held the sack for the borrower
The Peruvian or Bolivian or Chilean
Wishing TO develop his mnes in the
ANDES would go TO Europe for financial
assistance. The Chinese or East Indian
merchant would generally look to Furope
for capital England, France. Germany
all these nations had plenty of money
to invest In foreign fields Out OF pc.
hteness perhaps these foreign countries
would usually make heavy purchases in
Europe as a result OF these financial
courtesiea In this way commercial re-
lations we're trengthened and the bonds
OF friendship were securely fastened.
CrHes Give and Take Policy.
This roseate picture Of European poll
cles In foreign trade does not mean to
in'ply that the United States at the same
time was not getting its slice of foreign
business. II certainly was. The reader
need not be disturbed with convincing
nSures. which are accessible In almost
any public library or Government bu-
redu. II has been this success camel on
the merits OF American wares that has
cmooldened some of our authorities to
shout from the housetops. We'll, We are
doing business as usual In South Amer
ica ana other parts. SO why complicate
the whole situation by speaking OF in
vestments and better banking facilities
Nc. We don't have. to follow Euro.
pean policies to get the business. Let's
get II In our own way and keep H."
me situation reminds the writer of a
little city out West that depends on the
prosperity OF the neiEhboring wheat fields
ana Farms for It's own bread and butter
EVERY year the farmer comes TO town
to borrow money from the banks until
MS crops are moved. At the end OF the
seaeon he pays back with interest. After
settling with the banker he visits the
grocer and the butcher and tho DEPART
r1ent store and settles his accounts, The
size OF these accounts is measured bv
The bountifulness Of his crops. II the
crops are big his purchasing power
materially increases. II there is a
drought the city trade knows too well
mat business will be slack.
IL Is the same thing in foreign trada
big community. Our customers in
South America hold the same relation To
the American manufa cturers az the
farmers to the city merchants. IL they
are prosperous the American nanufac-
turers will be prosperous: but we must
help them along Just like the banker
helps along his farmer client II the
South America ms are looking for Ameri-
can capital with which to develop their
20 ~N..
and give IL to them on the presentation
OF adequate security. 1t In true that we
have not built up our foreign trade by
subscribing 10 this policy OF invest
ments in foreign countries. Germany
and England have taken the lead in this
activity. These huge Investments on tn.
part OF these nations in South America
have moulded friendships and strength
ened commercial ties. 1t is difficult to
break these. Tho careful dlstr button Of
American capital in South Americs
would do more for the strengthening OF
political and commercial rela lions be-
tween these continents than a hundred
Monroe Doctrines, As far an South
America Is concerned, II would be an act
OF confidence and interest on the part OF
this country 10 encourage the loan ng OF
money 10 our southern neiyhbors in order
70 make them more prosperous and pro-
sreSsiNe. IL is one thing TO try to cell
the South American people all that the
traffic will bear, but 1t Is another to as
sist them and TO cooperate with them in
every way possible in order that they
may be able 10 meet their obligations
without suffering hardship.
Need Manufactured Goods.
We are the greatest fabricating ma
tion In the world, and our South Ameri-
can nelghbors need our manufactured
goods. 1t stands to reason that they
will not only buy more but they will be
more friendly with that nation that
Supplies them not only with merchan-
disc but with the necessary capital
with which TO increase the prosperity
OF their own country. It Is true that
we may be able TO hold our SOUTH
Americans as customers by following
our narrow policies OF the past, but
they will he customers only--and not
the real friends they should be unless
we offer the cooperation that Is in our
power TO bestow.
II has been said that We do not need
merchant marine OF our own to haul
American goods to South America and
other parts OF the world. Certain folks
argue that inasmuch as the foreign
buyers pay the freight anyhow, It
makes no difference whether our freight
is hauled in foreign bottoms or not.
England and France and Germany and
JanAn have acted aa our delivery boyH