The potters herald. [volume] (East Liverpool, Ohio) 1899-1982, 1940-05-02


U. S. manufacturing in
dustry today. That is very largely, of
course, a result of the war in Europe.
General opinion holds that even a
short war will so exhaust Europe's re-
sources that it will be many years be-
fore she is in a position to resume
peaceful trade on anything like nor
NAL basis. Therefore, our export in
dustries - which include the bulk of
our biggest employing industries
must look elsewhere for possible or
ders. And fast developing Latin
America is the logical place to look.
Pan-American week was celebrated
in mid-April. And, as Business Week
observed, the political aspects of the
program were "vastly overshadowed
by the economic implications of the
ties welded by Europe's chaos. Ameri-
can business is eager to demonstrate
that the new relationship is not one
way affair, that it can be advantageous
to both parties"
U. S.-Latin American trade has been
big business for a long time, and it
seems certain to become bigger busi-
ness. 1t is estimated that this year
the countries South of the Rio Grande
will buy over $750,OO0,000 worth of
goods from us. Automobiles, tools and
farm and industrial machinery will ac-
count for much of this. And in addi-
tion, our Latin neighbors will buy
great quantities of textiles, cement,
metals, coal, etc.
In return for this business, say the
estimates, the U. S. will absorb some
$3.50 100000 worth Of Latin American
products. Leaders on the import list
are coffee, bananas, sugar, minerals,
trade total of $14OO 100000 for 1910
and wool. That makes a prospective
as against 1889 total Of $1,100,000,-
900.
Of the warning nations, principal
loser so far as Latin American trade
lis concerned, is Germany. Germany,
like the U. S., is an industrial power,
and her principal exports are about
the same as ours. For some years
Germany has been attempting by both
diplomatic and commercial means to
improve her standing with Latin
Americans. She has made consider
able progress, but the war has been a
serious setback to her hopes in most
of the countries-they tend to be anti
Nazi, even though few are strongly
pro-ally. And that is another advan-
tage now possessed by this country.
Result is that the total proportion of
Latin American imports originating in
the U. S. is going up.
So far as the technical details of the
u. S.-Lstin American trade are con-
||ssersed; .-.,,, "a ere b. problems to be
met. Some ON the Southern countries
are weak economically, though condi-
|tions seem to be improving. Also, in
certain Latin-American centers great
effort is being given to developing
industry. If that effort
succeeded on any big scale, it would
obviously deal a serious blow to our
|trade-Latin America would buy her
machines at home instead of import
ing them from us. But that is long
range problem. Instability of Latin
American governments used to be an
other big problem--it will be remem-
bered that South America defaulted on
millions of dollars worth of govern
ment bonds sold here. But today po-
litical conditions seem much better.
The war in Europe has been of con-
siderable benefit to Latin America in
another way. Tourists who used to GO
abroad are voyaging South instead
Mexico, being nearest at hand, has
naturally benefited to the largest ex-
tent.
X X X
Newest ominous note in the discord-
ant European martial symphony has
been sounded by Italy. During recent
weeks, press attacks against France
and England have been intensified
The Berlin Moscow alliance has beer
soft-pedalled. And newspapers which
are known to speak for high govern.
ment officials-who, in turn, speak fo,
Mussolini-have lately announced that
Italy may not be able to stay out OF
war much longer, the intimation being
that she will throw in with Germany
What will come of this remains to
be seen. Some experts think there is
more smoke than fire--that Italy is
using vague threats in an attempt tc
cement her influence with the smaller
European states. These experts point
out that the Italian people have never
been particularly fond of Germany
and don't like or trust Hitler. They
also point out that Mussolini's cardina
point of foreign policy has been his
anti-bolshevik stand, and now Ger
many and Russia are formally friends
And lastly, they argue that the Italiar
military forces, despite feverish wal
preparations, are not of a calibre tt
meet another major army on ever
terms and that, due to her geographi
cal position, Italy is easy to invade
from France.
There is also the possibility tina
|Mussolini is waiting to see whether