The star-progress. (Opelousas, La.) 1917-1921, 1920-12-15
Foreign Trade and the Interior Bank
~ WILLIS H. BOOTH WcePesdent, Guaranty Trust Co. Of ~

oSnIv SuaL army ''SS- ''
in foreign trade IS plainly shown
Nv a study Of the letters received by
ID e International Trade Service Of lhe
iGuaranty Trust Company Of New
York from the smaller towns through
L t the United States, which indicate
ian increasing interest in foreign
trade on the part not only of the in
terror banks but of the local manu-
facturers. DanEille, Va, is interested
in sending tobacco to Venezuela; La
Porte, Ind, wants to send farm trac-
,tors to Brazil; Austin, Texas, desires
to import French novelties; st. Joseph
Mich, desires an agent for automobile
accessories in India; Burgettestown,
Pa, sends an inquiry regarding indus
trial enterprises in Jugoslavia; Park
erburg, West Va, wants to sell oil
well supplies to Mexico; Keokuk, Iowa,
> interested in developing a market
ID rolled oats in South America; Co
Ishocton, Ohio, wants 70 appoint an
lagent to Spain for its @ass bottles;
Lompog, Cal, is interested IN the i'm.
portation OF mustard seed ftom the
Dutch East Indies; Cadillac, Mich,
lwire in South Africa; Charlotte, N. c..
wants to send cotton to Finland; Non,
q TX Downs, Mass, has customer for
weighing machinery in Formosa;
Mount Pleasant, Mich, has a customer
u2r trucks in Guatemala, and Valdos-
IT,. Ga, wants to export cotton Iinters
10 Ozechoslovakia.
It is obvious that the interior bank
mot set up elaborate machinery and
an expensive personnel equipped TO
answer specific inquiries regarding
S11reign trade. The international bank,
las, however, built up worldwide net
Y ork of branches, affiliations and spe-
i, Gal correspondents, backed up by
( affs Of experts in the metropolis,
(which is freely offered to the interior
banker in order to assist him to de
lvelop the foreign trade of his com
munity. The international bank has
in fact, created facilities which make
IL possible for the exporting and i'm
porting clients of the inland bank ID
do business on safe basis with the
merchant in the, interior OF China, the
ranchman in Australia, the miner n
Africa land the planter in Latin Amer.
lea.
Worldwide Facilities Available
|, To illustrate concreteIy just what
Vlis means, let us examine the facili.
t.es which are offered to the interior
bank by the large international finan.
icsal institutions. First of all, they
Fave direct banking connections with
Great Britain and Continental Europe
qhe Near East, Latin America, South
kAfrica and Australia, with China, jap.
ia1, British India, the Dutch East In.
yes, and with the Straits Settlements
They are in direct and constant com.
tmunication with thousands of CORES
Pondents in every trade center of any
Importance throughout the world.
I In their foreign trade services these
International banks have created de-
partments to give specific commercial
ilformation, by interview or by mail
. grading the prospects for the sale
OF American goods abroad. They have
! mediate access to reports regarding
iehe credit standing and commercial
lprobity of hundreds of thousands OF
t}reign firms and corporations, all 81
Niem carefully revised to cover ,chane
es made during the war.
! These departments include in the;l
personnel experts on tariffs. marine
insurance, freights, forwarding, Gus
CONS duties and shipping documents
Snd men who have travelled extensive
y in foreign countries. Supplement
Jig their personal knowledge of fore
in countries and of the manners AM
e .stoms of the people inhabiting then
il a daily service of information b.
mail, wire and cable from privat,
and official sources and from thei
branches, subsidiaries and agent
throughout the world regarding chang
,ing conditions, new demands TO
American products and movements 0
foreign buyers. Over the desks 0
these experts there passes each da.
large quantity of written and prin.
Ell material in all languages, and item
OF interest to American exporters ant
importers are sent out promptly T.
pecially selected mailing lists.
Concrete Example
/, Here is a concrete example Of tn
kind of service which an interior BAN
flould be able to render; In an Illinoi
town of about ten thousand inhab
itants there is a small factory mani
featuring line of tools. AS a re :,
of advertising in export" journals, thi
manufacturer received an order fror
Buenos Aires for two thousand dollar,
, worth Of goods. The buyer stipulate
thar the merchandise was TO be sen
Forward with draft attached to doc,