Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-08-17
In LATIN AMERICA
By CASTOR NERVAL.

every Qdy SJOIy 10 near VI Tile COIil-
mercial supremacy of Great Britain in
Latin America. The greater markets,
such as Argentina, Brazil, Chile, Peru,
were wholly controlled by British con-
Germs The United States was consid-
cred secondary in Importance. The eX-
ports of this country to Argentina, Bra
I'll. Peru, Bolivia, Uruguay, amounted
to less than one-third those of Great
Britain and Germany. BY means of
their enormous investments and eX-
tensive banking and sales organizations
these two European powers completely
controlled the South American markets.
Besides, the British were in possession
of the cable system, and American ex-
porters were dependent upon English
and German steamers for the trans
portation Of their products to South
America.
Today, however, things have Under
gone quite change. There are Ameri-
can banking institutions, American ca
bleS and innumerable trade representa-
tiveS Of this country in Latin America.
The investments of United States capt.
tai have increased considerably-so
much so that they now amount to
nearly $6,000,0 100000 And, of course,
export and import figures in inter-
American trade have increased twofold
or threefold in the last IS years Last
year the standings of the United States
and Great Britain in Latin American
trade were quite reversed as compared
to those prior to the World War. The
former furnished about 81 per cent of
the total Latin American import trade,
while the latter's contribution decreased
to l6 per cent.
To this change of commercial leader
ship in Latin America from John Bull
n no
tributed. Among these may be cited
the construction of the Panama Canal,
the difference in conditions brought
about by the World War, the continu-
Gus investment of American capital in
the Southern continent, the steady de-
velopment of agriculture, mines and
other industries in the Latin countries,
their increase in purchasing power and
their ever-growing demand for foreign
manufactured goods.
Not only in naval strength, in ship
building or in the acquisition of oil and
rubber plants throughout the world have
the United States and Great Britain
been competing earnestly since the be-
ginning of this century. The CONNER
cial battle for the conquest of the
Latin American markets marks another
chapter, possibly the first one, of that
momentous rivalry in which the two
wealthiest nations have been lately
engaged in pursuit of material world
So far Uncle Sam seems to be having
the best Of it,
AMBASSADORS OF FINANCE.
Not only are American manufactured
goods, American capital and American
trade concerns moving daily to the
South in a continuous and increasing
stream of economic vitality but the
Latin Americans are also importing
American exports and American econ
omistS to study their finances and put
them in good shape.
A cable from Bogota, the Colombian
capital announces that the second
Kemmerer financial mission will soon
begin its labors in that CITY, in accord
ance with a contract signed between
t. Colombian Government and the
we'll known American economist
Prof. Edwin Kemmerer of the Uni
versity of Princeton has been engaged
in studying the financial problems of
various countries of the world having
acted as adviser during the last 10
years to the governments of Chile, Bo-
livia, Colombia. Panama, China, among
others. After stay of several months
in each of these countries, and with
the collaboration of group of Ameri-
can exports in different economic mat
tiers, he made to each government q
series of recommendations to strengthen
the national financial systems and
avoid budget deficits almost traditional
These recommendations, although not
wholly put into effect have given splen-
did results in those countries where
they have been carried out energetically.
Prof, Kemmerer has already acted
once before as financial adviser to the
Colombian government. He is not a
stranger to Colombian conditions. In
1928 he spent almost half year in that
South American republic gathering in
formation which would give him clue
to the economic problems of Colombia.
At the expiration of his contract he
outlined certain reforms and financial
measures which, carried out in part,
have contributed in a large extent to
the establishment of Colombian
credit in the last few years
This time Prof, Kemmerer goes back
to Colombia under a contract made
personally by the Colombian chief eX-
ecutive, who during his recent stay IN
the United States engaged him for
new investigation of Colombian finances.
When elected to the presidency of CO.
lombia DR. Olaya Herrera, who was in
augurated in Bogota less than two weeks
ago, stated that his chief endeavorS
would be directed to securing the CO.
operation of American capital, Ameri-
can enterprise and American business
leadership in the development of CO.
lombian national resources. He had
lived In this country for eight years as
the diplomatic representative of Co
lombia and he knew OF the true aims