Albuquerque morning journal., 1922-03-15
FOREIGN
BUSINESS OF
AMERICA
BY FREDERIC J. HAsKIN.

BY FREDERIC y. HASKlN.
Washington, March 14.-Foreigu
trade follows the lending of money
to foreign governments and cities,
1t always has and it always will,
This condition is as inexorable az
the succession of the seasons. And
yet it is but recently that Ameri-
can bankers and business men
have been convinced of this fact,
according to Franklin Adams,
counselor of the American
union.
A few years ago, If another gov
ernment approached our bankers
and asked for funds, those govern
ments either were turned down alb
solutely or so much delay was en-
eountered that the applicants grew
tired and went elsewhere" says
Mr. Adams. THE condition, which
| existed long before the entrance OF
| this country into the world 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 we'll as the Far East,
cur national mercantile vision
widened perceptibly. 1t is still
widening"
In the old days, IL the govern
ment of one of the countries to the
south of the United States wanted a
loan to build railway, that gov
| ernment would send special repre-
sentatives to the United States
! These emissaries would spend
weeks in American financial cen
ters before they got a hearing, an
probably it would be weeks after
that before there was a decision.
Today the financial houses OF
the United States have representa-
tives practically all over the world
and these men are looking fol
places to lend American money.
The Latin American city that wants
to build a street railway, for in
stance, after some American finan-
cial agent arranges for loaning the
necessary construction funds and
money for rolling stock, has pointed
out to it that the United States has
civil engineers, steel rail mills, and
means of providing all other equip
ment needed. Il 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 fur
nished by the borrowing country
itself follow the American loan to
American firms. The result is d
considerable foreign trade arising
from this single project.
This expansion of the American
viewpoint is being met by the edu-
cation Of young men to fit them for
the posts of business and financial
delegates, notably to the Latin
American nations.
More Than Language Required.
A great many young men are
studying Spanish in schools and
colleges. But they must go q long
way beyond merely learning To
converse in Spanish to fit them
selves for posts as foreign repre-
scntatives of American business. Of
course knowledge of the language,
and thorough knowledge at that,
is the prime requisite, but it is
only a part of the necessary know
ledge and training.
Tho most perfect Spanish scholar
in the world Is Of no use to an
American exporting firm or bank
If he is not also q good salesman.
The characteristics of the Latin
American people must be taken into
account. A lack of understanding
Of these cannot be balanced by the
greatest fluency in Spanish.
Some big American export
houses have established their own
schools for training young men to
represent them abroad. The teach
ing staffs can tell within a few
weeks whether man is going to
be q success as a salesman on for
eign soil.
Foreign trade is receiving close
attention of some Of the big Amer
lean universities. Once the banks
and business houses had their eyes
opened to the opportunities so long
neglected, the colleges were not
slow to take up the subject. Off
cials Of the Pan-American union
discovered that young employe
here was taking q foreign trade
course at one Of the universities in
Washington, specializing with re-
gard to Latin America. His studies
include Spanish, physical geogra-
ply, principles of accounting, eX-
port sales practice, staple commodi-
ties of world trade, histories of
Latin American countries, and for
eign trade conventions. When this
list Is compared with the study
only of a foreign tongue, it is seen
what strides American has taken
in recognizing the groundwork
necessary for preparing young men
to so out and creditably represent
American business abroad. The
studies enumerated above are only
those included in the first year
curriculum at this university.
1t is fact that our Latin Ameri-
can trade has lock on it that IL
turned with the key Of social
sraees. To be a. successful sales
man in those countries, one must
be not only master Of knowledge
Of what he has to sell, but well
to the Spanish-American heart, anu
lhoIOuSlly aware OF the way our
southern neighbors prefer to do
business. The breezy type of sales
men who tries to get into a town
on one train and out on the next.
dealing with Central and South
merchants, will have
nothing to show in the way of
orders.
In our own country, there are
salesmen who will visit four or
five towns between dawn and dark.
That method in Latin America
would result in absolute failure.
The salesman dealing with mer-
chants Of the countries TO the south
must go slowly. Knowing this,
many large export houses in the
United States have brought men
into their home offices who have
been trained in Central and South
America, men who know not only
the needs of those countries, but
the habits and customs as well.
The judgment of these men is used
In selecting men who probably will
q, ly.a