The Washington herald., 1919-07-03
U. S. TO PROFIT /.
BY BANK MERCER
Holland Sees Great Benefits
From French-American
Institution.

Although Daniel @. Wing. who Is
r. president of the First National Bank
Of Boston. Is receiving such credit as
Is deserved for the suggestion that a
French-American banking association
be organized. nevertheless Mr.. Wing
has no executive relation to the or
Eanization. although he is one Of the
directors. The plan Is spoken of here
as a far-sighted. highly commenda-
: Bile international banking proposition
=, In its organization and the beginning
of its business on July l. II represents
one of the many steps in the direction
of the readjustment of world condl-
tions which is now IN progress.
II is a union of one OF the largest
of the banks of Paris. with one Of
the largest of the banks in New York
and also of Boston. In that sense II
is true cosmopolitan banking house
such as the United States did not
until recently possess II is, however,
an individual corporation. Its pro-
moters have not hesitated to begin
business with an adequate capital and
surplus. the aggregate Of which is
s.. 10000 This may hereafter be en-
larged and probably will be IL the
constantly increasing business between
, FraRce and the United States of a
i. financial and trade character Is main
tanned.
- Excellent Opportunity.
Mr.. Wing evidently perceived soon
after the armistice was signed that
there is to be excellent opportunity
OF which avail should be taken for
Bringing into one corporation infiuen-
tial American and French banking
powers. the purpose being especially
to facilitate banking or trade business
with France and with French colonies
and dependencies.
Many have been the reports which
Of late have been received in New
York of the apparently somewhat
desperate financial condition in
which France now finds herself. In
fact one of the executive officers of
an influential banking institution
said upon his return to Europe a
few days ago that all of the nations
of Europe were perilously near
bankruptcy although all OF them
possess great natural resources and
can hereafter offer excellent oppor-
tunities for trade and commerce.
They all need the helping hand and
all look to the United States for
that first-aid. This is true of
France if reports which have been
received here are correct.
What France Needs.
The resources of the French and
of her colonies are vast. but much
of them remain to be developed or
redeveloped. This can be facilitat-
ed If adequate banking and financial
: aid is given and it can be given
only by the United States. The
French institution. which now be-
in ri ~ ho n
corporation. possesses certain facil-
titles which are not in the possession
OF the American banks: for instance.
IL has at least 200 branch banks
and these banks as a whole cover
the entire republic OF France and
are influential in the French colonies.
As il is expected that from France
will come requests. even urgent ap-
peals to the United States for finan-
cial aid. and as it is also presumed
that this country will furnish no
small part of the material and
equipment which are needed in the
rebuilding of France. this new in
stitution will be in a position to
give not only aid but advice to the
manufacturers and business men of
the United States who will have op-
portunity to place in France manu-
factured articles the aggregate
money value of which will reach
high in the millions.
The French banking institution
which has long been of worldwide
reputation is the Compton National
d. Escompte and il holds one-half Of
the capital stock of this bank. The
First National of Boston and the
Bank of Commerce of New York
hold jointly the other half.
This is a purely voluntary and
spontaneous joint action on the part
Of these institutions. The only re-
lation the new organization will
bear to the government will be that
of it's membership in the Federal
Reserve Association.
other Banking Facilities.
This. however. is not the only
banking organization which well
represents the efforts which are now
underway toward perfect readjust-
ment of International conditions and
the establishment of facilities for
trade which will be of equal bene-
fit to the United States and France
Few persons realize that in the
fiscal year which ended on June 80.
1918, there came to the United
States from India various commodi-
lleS which IN amount was seven
times greater than those imported
in the previous year and nearly ten
times greater than the average yearly
imports before 1914.
1t Is expected that our trade with
India will greatly increase. and In
order to take advantage of any op-
portunities of this kind that may
hereafter arise the Anglo-South Amer
lean Bank. which is the American
representative of the Bank of India.
has perfected plans for facilitating
our trade not only with India, but
also with Asia and the eastern coast
of Africa. This is another step in
the way of readjustment.- So also an
other banking institution has perfect
ed arrangements whereby our trade
with Spain can be conveniently. speed
lily and at reasonable cost. handled.
Establish Branch Omees.
The great bank, of which Richard
Delafield is president, has established
branch offices in China and Japan and
has close financial association with