The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-02-03
BALDWIN ADVISES.
TRAINING OF YOUTHS
South American Trade Gives
Opportunities for Those
Who Study to Win.
FOREIGNERS GIVE LESSON
Ways to Make Export Business
Attractive to Boys Just
Beginning Life.

Banking institutions OF the United
States with established connections In
South America have begun. II was
learned yesterday. TO cast IN rront and
loss statement regarding their 1918 oper-
atoms IN the countries south OF the
United States and a canvass elicits the
fact that there Is considerable dissatis-
faction with the actual results. In some
cases It is not known whether the ven
ture is an asset or a liability.
As one banker puts It: 80 far as
South American business Is concerned
our institutions are all dressed up with
no place to go. My institution could ex-
pand It's business tenfold without In
creasing Its facilities or without adding
a single dollar to expense. At that We
have not undertaken to open branches
in Latin America, but except for the
doubtful wisdom of taking away deposits
from local bankers in those countries
our facilities for handling the trade are
complete in every particular. In fact l
venture to say that our South American
facilities are greater than all the facili-
ties that we offer in European countries"
Some three years ago merchants and
manufacturers started publicity and
propaganda campaign for the develop
ment of trade with South America from
which bankersnnticipated greater things
than have actually developed. 1t was
thought that It would not be a difficult
matter to develop the business at a rate
that was unprecedented In commercial
history. But as a matter OF fact the
bankers find that the actual progress Is
much slower than was anticipated. The
result in some cases has been banking
overexpansion and in many instances
1t will take long time for the business
with South America TO measure up In
any commensurate degree with the IA
cilities already extended.
Merchants should Get Busy.
There is no profit. 1t was said yes
terday. in delaying the step OF putting
squarely before the merchant and man
efforts in striving for business with
South America. There Is no intention.
1t was said yesterday. OF withdrawing
any of the facilities already granted
and there will! be banking expansion
wherever It is required. but the projects
hereafter are going TO be looked upon as
cold business propositions. Bankers are
not inclined 10 blame any one but them
selves for the overexpansion OF facill-
ties. but they do call upon merchants
and manufacturers to attack at once the
problem OF suitable personnel for for
cign representation. On this subject an
interview was obtained with A. II. Bald
win. assistant manager OF the foreign
trade bureau OF the Guaranty Trust
Company. who said In part:
without an adequate. intelligent stan
on the ground our merchants and man
ufacturers win still be laborins against
handicap that is not felt by Great
Britain. Germany or by any OF the other
established selling nations notwithstand-
Ing our new shipping and our new Eek
mort combinations.
Action typical Of the attitude OF the
German merchant class may be found
IN an incident which came under nv
notice in England soon after the begin
ming Of the war in Europs Hundreds
OF enemv aliehs representing the Ger
man industries in London were immedi-
ately informed and thrust into a large
barracks inside the city limits Their
tasks as prisoners were OF the slight
oct. They had plenty OF spave time.
Immediately they set up a demand for
Spanish grammars and dictionarie and
IN few dave had organized classes
and were all busilv preparing themselves
for the commercial invasion Of Latin
America. which of course they were sure
would follow the successful conclusion
OF the war Those men knew what
would be expected NJ them and they
for the new era to which they looked
forward