The Washington herald., 1922-02-06

fall to the end of 1915. to a point
below. for these three countries,
that OF 1910. Exports to other
Latin nAmerican countries" as a
group increased 1908 at about
the same rate as to Japan. Brazil
and Argentina. but the fall to the
ehd OF 1915 was not quite so great.
From 1915 to 1919 the increase
In exports to Japan was sensa-
tional: rising precipitousIy from
less than sI.OO0.00O in 1915 TO
over s25.00o.Oe0 in 1919. and in
creasIng at slightly slower an
nual rate to s2s.000.oO0 In 1920.
Exports to Cuba and other Latin
American countries" began to m
crease at about the same time as
those TO Japan and progressed Er-
ward at a slightly more obtuse
angle To 1918. when the rising curve
for other Latin-Americsn coun
tries" lessened. but exports to CuU7
increased more rapidly =: 1919. In
1920 exports to Cuba fairly shot up
ward. from a little unIer s:0.cOo. .aah
in 1919 to over sIn.Or".U5' in 1890.
Exports to other Latin-American
countries" continued upward, but at
a c"nsideras:! slow-r rate Ihsn
those to CHpI
Exports to China. British India.
Dutch East Indies. Mexico. Argen-
tina and Brazil also began to in
crease in 1915. to all six at about {
the same rate. which was much
below that OF the increase in ex-
ports to Japan. Cuban and "other
Latin-American countries" The
upward tendency was accelerated
in 1919. much more in the case OF
China than in that OF the other
countries named. In 1920 the rate
OF increase in exports to China
slackened slightly. that to British
India increased. and that TO the
Dutch East Indies decreased. The
rate of increase in exports TO Mex
leo was intensified strongly. 10
Brazil less markedly, while the
rate OF exports to Argentina con-
tinued about the same as in 1919.
Generally speaking. the curves
OF exports to Japan. Cuba and
'other Latin-American countries"
have been concurrent. with China
British India and Mexico following
them slowly at first and rapidly
about three years later. in COM
pany with Brazil and the Argen-
tine, the rate OF progress OF eN-
portSto which was. however. some
what less until 1919. when it in
creased rather rapidly. Obviously
conditions in each Of these sections
are vastly better than in prewar
DAYS, and the value Of these mar
kets has advanced far beyond the
levels that were then considered
normal.
ReIationship on Ftrmer Basis.
In many respects. too. our COM
mercisl relationships with these
parts of the world are on a firmer
basis than before. Freight and pas
senger steamship service with the
United States have been improved
and banking facilities are notably
better. During the past twelve
months numerous bond issues for
these sections have been financed
in this country. The United States
is becoming increasingly important
as a supplier OF the worlds capital
requirements and may reasonably
expect a greater participation in
any Industrial revival that may
take place in these fields.
The charts show that Cuba was
one of our very best markets for
machinery through 1920. It-is rec
ognized that the business commun-
ity there has suffered seriously
since then and 1t will require some
time for matters to adjust them
selves. but the value of the market
remains and trade will revive as
soon as the complications of the
sugar market dissolve and rea-
sonable period OF reconstruction
elapses. The world still demands
sugar in increasing quantities.
Japan probably ranks next In i'm
portance and during recent years
has been one OF the most consistent
machinery buyers we have. II is
true that a great deal of this equip
ment was employed on their naval
program, which it is understood is
now abandoned. 1t Is. therefore,
anticipated that there will be a re-
duction in the amount of dockyard
equipment absorbed in that market
during the next decade. On the
other hand. Industrial Japan Is
showing very rapid development and
the market may be expected to
absorb q constantly Increasing
amount Of machinery Of a broaden
ing variety.
Mexico is apparently next in or
der of Importance. There is reason
to believe that this market has been
absorbing important quantities of
American machinery. and IL relieved
from further political disturbances
Will need additional equipment OF
great variety and in large quanti-
ties. The greatest care should be
exercised in the matter of terms OF
payment. The fundamental; condi-
tions are.not altogether satisfactory.
hut IL appears that certain manu-
facturers are securing business on