New-York tribune., 1919-11-21
European Trade
Delegates Here
To See Bankers
After Visiting Many of the
Leading Industrial Cen.
ters of Country They Will
Discuss Needed Credits

On the final lap of their swing
through Industrial America, delega.es
to the international Trade Conferenc.
from Great Britain, France, Italy and
Belgium reached New York at mid
night. They will sail for home ner,
week, to take back to their countrv.
men assurances that Americas pood
will survived long after the blarinp of
trumpcts and the booming of cannon.
In the fifteen leading cities visited
after the conference at Atlantic Citv
on October %, these directors OF Eu.
ropes factories, mercantile establish.
ments and banks heard two voices
speak. The mind of America was sav-
ing that the time of sentiment had
passed and all future relations mus.
heart of America was shouting, Com.
shs shsss ss4i in I psass rs ssa' help you through
Bankers of first Importance pledged
themselves to support up to the hilt
any workable plan that would enable
Europe to buy goods, and defer pay-
ment for a reasonably long time And
now the financial men on the missions
from the inter Allied countries ar.
looking forward 10 a meeting with the
bankers of Wall Street
Will Need S1,500, 900, 600
In the opinion Of the forty-two Eu.
ropean delegates, perhaps nothing
more important was accomplished on
the tour than the giving of widespread
publicity to the financial needs Of
Western Europe. At least sf,500 ,000-
900. they estimated, will be needed to
cover the 1920 purchases of France
Italy and Belgium in this country
As a result of the tight money stu
alton which caused a crash in the stock
market, bankers here feel that the time
is inauspicious to bring out new Sc.
curity issues, and MANY feel that little
new foreign financing can be done a.
least until 1920. Bankers feel that i.
would be unwise to have Europe make
"red ink overdraft on the future" by
giving tremendous longtime credits
here.
In making their appeal for aid the
men from overseas have tried 10
picture, too, what would happen if the
United States should decide not to lend
further financial help. For France Eu-
gene Schneider. head of the steel
works at lie Creusot and maker Of the
French 75's during the war, says his
faith in his country makes him feel
certain it can recover from the wounds
of conflict without outside assistance.
but that the Withholding of aid would
delay the process of reconstruction for
years. and would therefore be harmful
not only to France but to all the world
Italy Can Make 1t Alone
For Italy. Commander Ferdinand
Quartieri, chairman of the Italian mis-
sion and leading chemical manufacture
er of Italy, has said:
'Italy could, no doubt, pull herself
together and readjust her position un-
aided, but this would take her longer
time and cost greater hardship to her
so sorely tried by war
But, above all, l feel that American
ponds which united US in war, which
trust may ever be maintained ana
strengthened. for the sake of both our
and of the worlds peace
Belgium, through her spokesmen, has
explained that she is recovering with
great rapidity. NJ Florimond Hankar,
eading banker of Belgium and chair
nan of the Belgian mission, said he
lad sown the seed of lasting friend
ship in all the cities visited. and the
-esults in terms of accomplishment
would not fully be known for many
years.
The program for entertaining the
visitors in New York has been ar
-anged by the Merchants Association.
The headquarters will be at the Hotel
Commodore. There Will be reception
It the hotel at 10:15 this morning and
mother at City Hall at 11:15 Later
n the morning the party will visit the
Stock Exchange and then have lunch
on with members of the Merchants
Association at the Hotel Pennsylvania.
the evening the visitors will attend
the Horse Show.