The Washington herald., 1921-03-16
War FINANCE
BOARD seen AS
EXPORT AID
Relief to Trade Forecast
In Naming of Meyer to
Head Corporation.
WILL HELP FARMERS
Protection for Government in
Making Loans to Europe
Is Assured.

The appointment Of Eugene
lMeyer. jr.. Of New York. as director
| Of the War Finance Corporation. has
more immediate meaning for bust
ness men. farmers and other pro-
ducers than any other single act OF
the administration.
Immediate interest. because all
that the Cabinet can do and all that
|Congress can do to affect business
cannot possibly show results for
months OF even years to come. But
Mr.. Meyer and the War Finance Cor
|roration are expected to show re-
suits Immediately. Mr.. Meyer, in
deed. is expected to be a miracle
naker. and IL faith can make mira
Ieles Mr.. Meyer has the faith. His
belief in the War Finance Corpo-
ration, its present efficacy and Its
ultimate possibilities. are almost a
passion.
Some conservative bankers have
not looked with enthusiasm on the
Revival of the War Finance Cor
poration, but since Congress has re-
viyed Il, everybody thinks Mr.. Meyer
4 the best man to run II, and the
news of his appointment has been
Received with a humorous friendli-
hess that says in effect, Now, Gene.
70 to it," The appointment, on
Harding's part, reflects this senti-
hment rather than politics MI.
Meyer Is commonly looked upon as
Democrat. Certainly he has been
conspicuous figure in the Demo-
eratic ADMINISTRATION.
HAD Visions Of AIDING Europe.
When the war came he severed
tuch of his banking and corpora
kion connections in New York as
might have been embarrassing and
ezme to Washingto Wilson made
him managing director of the war
Finance Corporation in its first in
earnation. The purpose Of that cor
poration was to provide banking
Facilities to firms making war
Eoods With the end of the war
the institution was discontinued.
but Mr.. Meyer had a vision of max
ing IL useful In facilitating exports
10 Europe.
He persuaded Congress to revive
he institution Fer this purpose. IL
functioned for q year, and then Sec
Fetary Houston discontinued II on
The ground that at that time ex-
borts to Europe were going out in
Increasing volume and there was no
heed for government aid. Mr.
heyet. however. differed with Sec
tetary Houston He believed pas
ionately in the value of the insti-
ution. and for more than six months
be made himself an earnest propa-
Kandist. going up and down the
ountry persuading bankers. and
business men to advocate a second
svival of IT, The result of his ef-
forts was that when Congress met
n December they decided largely
through Mr.. Meyers persuasion. to
feviye the institution once more.
Sow President Harding names Mr..
Meyer As the head of il and puts II
p to him to make good
Caa Revive Experts-
what Mr.. Meyer has more OF less
kfven business men and Congress to
Understand Is that through the in
ktrunentality Of the War Finance
torporztion and Of about s500.0o0.-
lee. Of government money. which 10
b authorized to use. he, can meas
rzbIy revive the export Of cotton.
kobacco. copper. and q large variety
II other kpods to Europe
what the War Finance Corpora
Eon n as II now exists IL. how IL
znetions. and the kind of thing II
expected to do. can best be made
kezr 70 the Iess familiar public by
eserfbing \ typical transaction car
bed oct By Mr.. Meyer before the
orDorzrion was discontinued- In
bis ease all the important cotton
pinners Of Cz>cbo-SIovskia formed
sJn<5ezte- They gave their note
. xro11 composed Of the seven
rxssz b4nks In Czeeho-Sloyakia-
hess basks indorsed the note and
>n tsru.d "a over to the govern
ent % CZ>eho-Hoyzkia-
Tne government Of czecho-slo-
akia IN turn ia1orsed the note and
ert u over here 90 America Here
xrou> of American banks in their
,prn frlsTse1 the note. took IL to
wr.1 q toab 81 sye1S. 800 on IL. and
ktsh tss MONEY bought that amount
n cotton IN tbS S11thsrn States
ze<soISovsklz 10 far as the
rer51ss government 80 concerned.
te ssfstT % ne loan obviously
- fss bezkfsE 0f all four of the
SoYs5nx ss5 signing groups. So
bsz 40 ssy oss Ibsk IN that khain
saaGss6 solvent, me American
Sv<rsn<ss wss s<e5ps,
tcsz1rsss. Isfl1