Great Falls tribune., 1922-03-15
Washington, d. c., March 49,
Foreign trade follows the lending {

rOrelgn trade 10llOWS the Ien0ln& O.
money to foreign governments ant
cities. It always has and it always will
This condition is as inexorable as tht
succession of the seasons. And yet il
is but recently that American bankers
and business men have been convinced
OF this fact, according to Franklin
Adams, counselor of the Pan-Americar
Onion.
"A few years ago, if another gov.
ernment approached our bankers and
asked for funds, those governments
either were turned down absolutely OF
50 much delay was encountered that
the applicants grew tired and went
elsewhere says Mr.. Adams. 4"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 bank
ers OF the fundamental of foreign
trade. But with the opening Of the wal
and the greatly increased demand for
our goods in Europe and in Latin
America as well as the far east, our
national mercantile vision widened per-
ceptibly. 1t is still widening"
In the old days, if the government
OF one Of the countries to the south OF
the United States wanted a loan to
build a 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 decision
Today the financial houses Of the
United States have representatives
yvy n11 i
men are looking for places to lend
america nmoney. The Latin American
city that wants to build street rail
way, for instance, after some Ameri-
lean agent arranges for loaning the
necessary construction funds and money
for rolling stock, has pointed out to il
that the United States has civil engi-
neers, steel rail mills, and means OF
providing all other equipment needed
1t is natural that the government max
ing the loan should want to repay as
much as possible the people Of the
country advancing the funds. Thus con
tracts for equipment which cannot be
furnished by the borrowing country it.
self follow the American loan to Amer
ican firms The result is consider
able foreign trade arising from this
single project.
Ihls expansion Of the American
viewpoint is being met by the education
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 study,
ing Spanish In schools and colleges
but they must go long way beyond
merely learning to converse in Spanish
to TT them selves for posts as foreign
representatives of American business
Of course knowledge of the language
and a thorough knowledge at that, is
the prime requisite, but it is only a
part OF the necessary knowledge and
training.
The most perfect Spanish scholar in
the world is Of no use to an American
exporting firm or bank If he is not also
a good salesman. The characteristics
Of the Latin American people must be
taken into account A lack of under
standing 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 teaching staffs can tell
within few weeks whether man is
going to be success as salesman
on foreign soil
Foreign trade is receiving the close
attention of some Of the big American
universities. Once the banks and busi-
ness houses had their eyes opened to
the opportunities so long neglected, the
colleges were not slow to take I'D the
subject. Officials of the Pan American
union discovered that a young employe