Evening star., 1922-05-14
SOUTH AMERICAN TRADE
SHOWS BIG IMPROVEMENT
Exporters From This Country More Than
Holding Their Own, Despite Fierce.
ness of European Competition.

Latin America toward American
standards and American products.
according to DR.. julius Klein, d.
rector of the bureau of foreign and
domestic commerce, Latin Americans
nave learned to appreciate American
qual1ty and service, and our business
men have likewise learned that quail
ity and service are keys to CONNER
clai success the world over" DIR.
Klein bases his statement on the
fact that the United States has been
able to more than hold it's own in
Latin American trade since the. war
In the race of extremely unfavorabie
exchange rates. worldwide business
depression and the competition Of
French, German and British manu-
facturers who have re-entered the
field in the past two years.
Germans Are Unable
To Keep Promises.
reports coming to the Department
of Commerce." DR. Klein says, "indi-
| cate that our competitors are not
| only falling to dominate all of the
business, but that in some important
lines of trade they have actually
failed oNmake delivery on orders ob-
tanned. The strong German cam
Brazil and Mexico has suffered great
checks through the inability of Ger
! man manufacturers to meet the
promise of their statesmen as to de-
liveries and qualities"
Latin America is loosening the big
gest logs in the business jam of the
last two years by getting rid of her
large stock of accumulated goods.
Exports Of staple commodities are in
creasing. principally by the shipment
of hides, wool, cereals and other
products to Europe. Argentina last
year had approximately s35,000.0O0
worth of imported merchandise tied
up In her warehouses atF Buenos
Aires. Today these stocks have been
reduced to less than $4,000, ,000-an
indication that more money is be-
coming available and greater busi-
ness is possible. There has been a
notable improvement reported to the
Department of Commerce in the ex
change situation in Chile and Argen-
tina, as well as in the nitrate indus
try in Chile, which suffered a severe
slump after the curtailment of war
demands. Cuba's recovery from her
economic paralysis and the establish
ment in Peru of a banking organiza-
ton similar in many respects to the
federal reserve system in the United
States are cited as other idications
of improvement and a start in the
right direction toward better things
American Investments
The Key to Trade.
Last year American banking houses
floated loans for the countries of
Latin America to the extent Of more
than s21o.0oo.00o, which shows the
faith of American business men in
the ability of South America to come
back. While the money thus ex-
pended will serve a need, DR.. Klein
points to the Importance of invest
ments in foreign trade. Permanent
investment of American capital in
South American enterprises, provided
they are sound, will be bread cast
upon the waters of commerce.
Reports reaching the Department
OF Commerce indicate renewed de-
mand for American made goods in
several lines, and the list of goods
needed is constantly increasing.
While 1922 Is not expected to be a
banner year for American houses ex-
porting to Latin America, DR.. Klein
believes the lowest ebb of the tide Of
depression has been safely passed,
and from this time on business will
be on the Upward grade, gathering
momentum as it increases.