Evening star., 1922-07-08
BIG JUMP IN TRADE
| OF FLAT|N.AMER|CA
Business With U. S: a. Per
Cent Higher Than in 1914.
i $780, 900, 900 in Loans.

Undercurrents of optimism pervad-
ing all recent economic reports from
Latin America are we'll borne out by
the remarkable recovery shown in
the statistics of trade between the
United States and her southern
neighbors during the fiscal year end
ing June 80, 1922. according to a sur
vey of the situation today by Julius
Klein, director of the bureau of for
eign and domestic commerce of the
Commerce Department.
Previous to his appointment by
Secretary Hoover as head of the
trade promotion bureau of the Com
merce Department. Mr.. Klein was a
commercial attache at Buenos Aires.
II Per Cent Over 1914.
notwithstanding the fact" he said,
that this fiscal year embraced six
months of lowest depression since the
beginning of the European war. the
total trade of the United States with
Latin America during the period was
nearly A per cent greater than for
the twelve months OF the fiscal year
ending June 80. 1914. No better ex-
ample of the splendid recuperative
powers of the countries of both North
a study of such statistics.
We must bear in mind also, that in
addition to this increase of trade be-
tween the countries of these con-
tinents. Europe has again become a
large factor both as a buyer and a
seller in Latin America; hence we may
rightly assume that the statistics of
inter- American commerce cited above
are an indication of the general trade
improvement of the commercial re-
lations of the southern republics with
the world at large"
American capital, Mr.. Klein con-
tinued, has turned in a strong tide
toward Latin America where, prior to
1914 with the exception of those in
Mexico and Cuba, American invest
ments were negligible.
OO,OOO.OO0 in Loans.
During the fiscal year just ended.
he reported. more than s200,O0o,000 of
American capital was invested in
Latin American loans This sum. he
stated. included three loans to Argen-
tina of s5O.00O.00O. s27.00O.00o and
$4,000. 900. respectively. and one to
Cuba of S5.o00.0O0.
In Chile. ne continued. two loans
were made by the British during the
year. one of f1.657,500 and one OF
fS25,000. as compared with two from
the United States amounting in all TO
100000 900, while in Brazil the loans
from the United States totaled more
than s100.000.00o. as compared with
f19,000.000 by the British and f14,-
900. 900 by the Dutch.
'.All these issues" Mr.. Klein said.
were absorbed in a very short time
by the public in the United States. in
dicatlng the complete confidence of
the North American investor in the
sister republics to the south. These
loans are also significant in that they
will stimulate production and general
economic Improvement in Latin Amer
lea, which will react at once upon in
ternational trade"
Shipping Facilities Improved.
The increased Importance of trade
rela ations between the American ma
tionS. he asserted. was further evil
denced by the esta ablishment of great
ly improved shipping facilities be-
tween the two upon schedules repre-
senting cuts of 25 per cent to 80 per
cent of the pre-War sailing time.
The Department of Commerce of
the United States.'' Mr.. Klein con-
cluded. has long recognized the
greater need for governmental as
sfstance to the rapidly increasing
numb Der of North American exporters
America. During the fiscal year be-
ginning July 1 it will enlarge it's field
forces now located in Latin America
SO IS to provide more extensive in
formation service to merchants, manu-
facturers and investors doing busi-
ness with the southern republics"