New-York tribune., 1922-04-09
Chile's Economic
Position Viewed
More Hopefully
Large Sales of Nitrates to
Germany Seen as Indi.
cation of Regaining the
Principal Pre-War Market

Special Foreign Ftnanctal Correspondence
SANTIAGO, Chile, March b.
Tho economic situation Of Chile in
these past few weeks seems to have
taken on slightly more hopeful
aspect. 1t is true that there is
very little tangible proof of better
ment, yet optimism is prevalent.
There are reports Of sale Of 10,-
900 tons Of the pools" stock of
nitrate to Germany, and negotia-
tions are under way for supplying
Poland with 5000 tons. In addition
to this there are reports of other
largo sales Of nitrate in Europe.
With the approach of spring in the
northern hemisphere it is presumed
that large movements in this COM
modify will take place, and it is ex
pected that the coming season will
determine to just what extent nitrate
may be depended upon in the future
to furnish the chief source of Chile's
income and how far the synthetic
product will work to curtail the ad-
vantage which Chile has hitherto
enjoyed as the source of the worlds
chief fertilizer.
Ths fact that Germany has again
permitted tho sale Of Chilean nitrate in
that country Is believed by many to
moan tho regairing of some part of
Chile's most important single market
before the war, and by others to sig
nifty only the temporary supplying OF
that market while the great Oppau syn
thetic nitrate plant, which was de-
stroyed by an explosion last summer.
ls being rebuilt and put in condition to
supply again German agrrculturists
with whatever fertilizer they may re-
quire.
Exchange Recedea
Exchange has receded somewhat
from the high point Of 11.50 pesos to
the dollar reached last month, and is
being quoted to-day at $40. The de-
cline has been gradual, and is probably
due in part to the steady rise in the
value Of tho English pound sterling in
New York.
Business is generally very inactive.
although the total expectations dur
ing the past week were somewhat
greater than for the previous week.
Small shipments of manufactured
goods continue to arrive from Europe
to replace stocks which have become
depleted and recently large quantities
Of raw cottonseed have been imported
from Peru-the principal purveyor of
that commodity to this market. These
unusual quantities were oceasioned bv
the fact that the Peruvian government
has imposed heavy export tax on
cottonseed, with the intention, pre-
sumably, Of protecting it's trade in
cottonsesd oil. In anticipation of this
ufacturers Of cottonseed oil have made
every effort to ship as large quantities
AS possible at the old rate
Tariff Will Be Felt
Oils are extensively used In Chile in
salads and this tariff war is bound to
be felt by the consumer in higher liv-
ing costs, but, on the other hand, it is
possible that it may work toward an
increase in national production by
encouraging tho growing Of more cot
ton and tho manufacture of oil.
The labor situation has not i'm
proved; a general strike was planned
for the 10th Of February by the vari-
Gus labor organizations Of the country,
including the railway operatives, in
sympathy with the striking coal min
ers, but was not carried into effect.
The attitude Of the government and
the public in general is hostile toward
all strikers during this period of UNI
employment, and it is very improbable
that any satisfactory results in social
betterment could be obtained at this
time through such form Of agitation.
Difficulties in the coal mining re-
gions between employers and en-
ployees have been prevalent for the
last several years, and no solution has
as yet been reached. Miners are being
paid better wages than ever before and
cost Of living is kept down for them
through operators canteens, but ignor-
ance, low standards Of living and the
work Of foreign agitators have con-
trlbuted to keep up continual state
Of anarchy.