Pueblo chieftain., 1922-03-15
BY FREDERIC J. HAsKIN

| WASHINGTON, d. c., March IA
Foreign trade follows the lending OF
money to foreign government ana
cities. 1t always has and 1t always
will. This condition is as inexoraoie az
the succession of the seasons. And 9el
It is but recently that American bank
ers and business men have been con-
WINGED Of this fact. according to Frank
| lin, Adams, Counselor OF the ran
American Union.
"A few years ago, II another govern
ment approached our bankers and ASK
ed for funds. those governments either
were turned down absolutely or 80
much delay was encountered that the
applicants grew tired and went else
where" says Mr.. Adams. The con-
dition. which existed long before the
entrance of this country into the Worid
4 War, was the result of the ignorance
of our merchants and bankers OF the
fundamentals OF foreign trade. But
with the opening of the war and the
greatly increased demand for our goods
in Europe and in Latin America as
well as the Far East. our nationai
mercantile vision widened perceptiDiy'
It Is still widening" !.
| In the old days. IL tho government OF
one of the countries to tho south
of tho United States wanted a loan
to build railway. that government
would send special representatives to
the United States. These emissaries
would spend weeks and weeks IN
! American financial centers before they
got a hearing. and probably it would
be weeks after that before there was
a decision.
Today tho financial houses OF tho
United States have representatives
practically all over the world and these
men arc looking for places to lend
American money. Tho Latin American
| city that wants to build a street rail-
way, for instance after some Ameri-
can financial agent arranEes for loan
Il ing the necessary construction funos
and money for rolling stock. has point
ed out to It that tho United States has
civil engineers. steel rail- mills. and
means OF providing all other equip
ment needed. 1t is natural that the
government making the loan should
want to repay as much as possible the
people OF the country advancing the
funds. Thus contracts for equipment
which cannot be furnished by tho Dor
rowing country itself follow tho Amer
lean loan to American firms. Tho re-
suit is a considerable foreign trade
arising from this single project.
| This expansion OF tho American
viewpoint II being met by tho educa-
tion OF young meu to tit them for the
posts of business and financial dele
| kdlVS. Hpkhoig ~ kuo
nations.
MORE THAN LANGUAGE RE-
| CURED
| A great many young men are study
ling Spanish in schools and colleges.
But they must 10 a long way beyond
merely learning to converse In Spanish
to fit themselves for posts as foreign
representatives of American business
Tor course knowledge of the Language
and a thorough knowledge Mt that. y
1.-THE prime requisite, but Il II only .
part OF tho necessary knowledge and
training.
The most perfect Spanish scholar II
tho world Is of no Use TO an American
exporting firm or bank II ne IL no
also n good salesman. Tho Characters
ties Of tho Latin American pcopl'
must bc taken into account A lack o.
Understanding of these cannot be bal
anced by the greatest fiecney in Span
ish.
Some big American export house.
hAvo established their own schools 70
training young men TO represent then
abroad. Tho teaching STATS can tel
within n fow works whether n man !!
going 10 bc n success as a salesman o'
foreign soil.
Foreign trade IL receiving the clos
a,;ontIon of some OF the big America
universities. Once the banks and bust
ness houses had their eyes open to tn
opportunities 80 long neglected. tn
lcoll~grs were not slow TO take up IN
subject. Officials OF tho Pan America
Union discovered that n young en-
pioys there was taking a. foreign trad
course at ono Of tho universities Il
Washington. specializing with rcGnr'
70 Latin America His studies inciud
Spanish. physical geography. principle
OF accounting. expert saics practice
staple commodities OF world trade. his
tori.. Of Latin American countries. an
foreign trade conventions. when thi
Ills. Is compared with tho study onil
OF a foreign tongue. Il Is s~cn wha
s,ridcs America has taken In recoE
mixing the groundwork necessary fo'
preparing young men TO go out and
cr~di,abiy rcprescn. American bust