Evening star., 1921-05-18
WORLD
SECURITY MARKET
Director Meyer of Finance
Corporation Addresses,
Manufacturers.
by the Associated Press.

Ky the Associated Press
NEW YORK. May 1S.-Esta blishment
of an international security market in
TINS country as the missing Ink in in
ternational finance and to add strength
at the weakest point in the chain of
tne world economic relations was ad-
vocated today by Eugene Meyer. jr..
managing director of the War Finance
Corporation. in an address at the con-
vention here of the National Association
Of Manufacturers.
Before the world war. Mr.. Meyer said
European bankers furnished this coun-
try with the facilities for the free mar
, keting of securities. and he suggested
that as conditions were now reversed it
was TO be expected that a similar ia
cility would be placed at the disposal of
at lease some of the foreign countries.
Forget Conditions Before 1914.
I'VE have done nothing as yet" he
curity market in this country. The OBJ
legations placed here officially by our
bankers. with listing in our public mar
kets and with the protection dema nded
by American investors, have only an
American market. The part played by
the fluid international security market
during the period prior TO 1914 in the
adjustment of trade relations has been
forgotten. and its important potential
value in the present situation is being
overlooked
Such a market must be established.
Mr.. Meyer asserted. if this country is
to play a larger role as the financial
center in the world situation than in
the past. The country should have
here securities which are readily
marketable in other countries, he
added.
The harmful effects of violent fuc-
tuations in exchange on the country's
exports would not have been so great.
he concluded, had the country had "a
broad. free. active market for the
standard foreign investment securi-
ties"
South American Trade.
In order to hold and increase its
South American trade. the United
States should work for stabilization of
the rates of exchange and interest
capital in South American develop
ment enterprise. the, conference was
Peru and DR.. Santos A. Dominica.
minister from Venezuela.
Continued instability of foreign ex
change is likely to cost the United
States a considerable portion of its
South American trade. Ambassador
PeZet declared.
ut is to the interest of the United
States to see that exchange is sta
biliZed. because If the dollar continues
to soar the republics of South America
with European and Asiatic countries"
he said.
An appeal for American interests to
invest their money in Venezuela was
made by DR.. Dominica.
There is money to be made in Eene-
Zuela." he said. Your interest to make
this money and our interest to develop
our country go hand in hand. Both
gain and the world gains
DR.. Slavko Y. Groutch. minister of
the Serbs. Croats and Slovenes. SAID his
people welcome goods from the United
States. Most of the goods they i'm
ported before the war were from Ger
many and Austria, he said. but other
sources Of supply were preferred.
1yuming {. Suez Chinese consul in
New York: DIR. Julio Bianchi. minis
ter from Guatemala; Sadigh- Els Sal
taneh. minister from Persia: DR.. r.
H. Elizalde. minister from Ecuador.
and Senator Rolandi Ricci, the Italian
ambassador. yesterday outlined trade
conditions with their respective coun-
tries. The note principally stressed by
each was the depressing influence of
unfavorable exchange rates.