New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-08-16

United States Holding Its Own, Says
Pan-American Statistician

10 the Editor of The Tribune.
Sir: The facts do not justify the
note of pessimism in your editorial of
August 8 on our South American trade.
We have lost nothing substantial as
yet, nor do think we shall. You have
in mind our exports> This is much the
less valuable part of our whole trade.
Our imports from South America have
an economic value far greater than our
exports have had or are likely ever to
have.
On the face of the figures for the
year ended July 1 the falling off in
our imports of $374,921,S76 from the
ten republics of South America as COM
pared with the preceding year might
look alarming if the falling off (43 per
cent? represented decline in our in
tcrnal industry. But l do not think
there has been any such decline. The
falling off can be assigned to other
causes.
On the export side, the side you APP
pear to have had in mind, there was
an increase of $30,87O, 472-nearly 61s
per cent. This scarcely looks as
though the trade is or is on the way
to being lost. 1t is true that the
larger part of the business was done
in the first half DULY December, 1920
Of the fiscal year. There was a great
rush Of goods to South America during
this period, much too great to be last
ing.
The South American countries gen
orally since about January have been
contracting their purchases, but they
are not shifting their trade to England
or Germany away from the United
States, at least not to an alarming ex-
tent. 1t is to be regretted that several
South American countries, notably Ar
gentina and Chile, have fallen behind in
the publication of statistical informa-
ton, so that figures cannot be given
since January, 1921, that are complete
IN respect to imports by countries. But
the incomplete items, taken together
with the available reverse statistics Of
England, Germany and France. show
that these countries are making no ma
terial gain on the United States in
Argentine or Chilean imports. All
alike are falling off, due, no doubt, to
the overstocking of South American
markets in the period from July to
December Of last year.
have in front of me Uruguayan
import figures by countries, January to
April inclusive, 1921 They show i'm
ports from the United States nearly
SIX times as great as imports from
Germany and nearly twice as great as
imports from Great Britain Omitted
States, 4,238,280 pesos; Great Britain,
2,165,l24 pesos; Germany, 729. $50 pc
sos). Brazilian figures, not complete.
show the same facts.
The strength of European trade in
South America lies in the six South
American countries Argentina, Chile,
Uruguay, Paraguay, Brazil and Bolivia.
This was true before the war and is
true now. For the remaining fourteen
Latin American countries (including
Colombia, Venezuela, Peru and Ecuador}
in South America the position Of the
United States was and is overwheIrn~
ing, amounting in some cases almost to
q monopoly. That Germany, Great
Britain, France and other European
countries should recover part of the
trade lost during the war, especially
IN the six countries, was to be ex
pected, but even in these countries the
outlook for busting the United States
can scarcely appear bright to those
who most would welcome the event
WILLIAM c. WELLS.
Chief statistician, Pan American
Union.
Washington, Aug. l2. 1921.