The New York herald. [volume] (New York, N.Y.) 1920-1924, 1921-03-22
RUMANIANS LOOK
TOU.S. FOR CREDITS
Banker Says Nation Is POten-
TALLY Richest Country
in Europe.

Aristide Blank. director of the Bauca
Marmorosch. Blank & Co. tho largest
bank in Eastern Europe, and who IL now
in the United States establishing
branches of his institution In New York
and other American cities, said yes
terday that Rumania is potentially the
richest country In Europe.
Tier resources" he continued. 'in
minerals. oils. forests and other prod
ucts OF the soil are beyond computation,
Alphabetically Rumania is the graz
nary OF Europe and under normal condi-
lions is capable not only OF supplying her
own needs In foodstuffs but has enough
surplus loft az result or her annual
harvests to absorb all of the country's
Indebtedness incurred by participation
in the war. But for lack OF foreign
money and necessary machinery with
which to take her products from the
ground our progress toward economic
Independence Is being retarded.
Naturally, In common with practi-
cally every other world nation. Ru-
mania looks toward the United States
for the necessary assistance. We need
to-day more than anything else cotton,
railway supplies and machinery Of all
sorts TO equip and develop our mines
and implements to equip our farms. by
supplying Runana's needs in raw ma
terials and machinery and ny extend
ing the necessary credit over a period
say OF from five to six years to enable
Us to nay for them through our own
productive efforts the United States
would be taking long step toward a
readjustmcnt OF world conditions.
So
would be willing TO extend to Ruulania
the necessary money or credits, there
IL no doubt Of Rumania's ability to
pay. The average grain crop produced
in one normal year in excess Of our
own domestic needs more than equals
in value the whole of Rumanias for
eign debt. The average yearly yield ex-
ceeds eleven million tons OF grain. Ap-
proximately five million tons is con-
sumed at home. Thus six million tons
are available for export. But unfor-
tunately for the present we lack the
necessary funds TO put our resources
TO work at their full capacity. In 1920
many products would have left for for
eign ports but factories have been
forced to remain idle owing to lack
of equipment and fields cannot be titled
until implements and machinery can
be supplied the peasants.
This situation is principally due to
the present low value OF the lei,
temporary adverse condition which
could be overcome by furnishing ma
chinery to peasants and agricultural
cooperatives. And beyond the agricul-
tural resources of the country are It's
other natural riches-oils and minerals.
No one can estimate the value OF our
oil resources The most conservative
estimate places the potential value OF
Rumanian oil fields at more than
900. 900, 900 600 leis.
1--WE should welcome assistance from
the United states with open arms and
with promise OF the utmost coopera-
ton But necessity knows no bedfel-
low Prior to the war Rumenia was
Il large customer Of Germany, prln-
cipally because Germany would grant
the necessary credits. She might sell
us goods at higher prices than We could
buy them elsewhere, but long credits,
which are of such vital Importance, in
vite our patronage. Necessity may
again drive us to the German market,
much as we shall dislike It."