Evening star., 1941-01-01

] oy DucHOS hlltS AOEIeSpOnQent
Associat ates).
In Argentina today, as in other
South American republics. there are
still references to Yankee imperial
ism" by youthful nationalists and
exotic political minorities. No re-
sponsibility attaches to these after
ances. Officially, and in responsible
spheres of public opinion. Argentina
is genuinely deSirouS of close eco
nOmic cooperation with the United
States on equitable terms. But
good neighborliness" in Argentina
and especially at the present time
tends to be interpreted in terms of
the trade possibilities which its
practical application may afford.
Argentina's loss of European
markets for her principal exports
threatens to bring total export values
for 194l down to something like two
thirds of normal. endangering the
equilibrium of the country's balance
OF international payments, unless
drastic action is taken to remedy this
situation before it develops. That it
has not yet developed may be seen
from the fact that the total value of
exports for the 10 months to October
81 last were only per cent lower
than the corresponding figure of
1889. The explanation, of course, is
that ArgentlnaS export trade only
began 10 suffer in real earnest with
the intensification of the war and
the spread of the blockade after
June.
Takes Three Courses.
Generally speaking, Argentina's
foreign trade falls into three dis
tinct, and today, substantially diff
ferent economic categories. First.
interchange with the sterling area
zone, where this country has accum-
ulated heavy balances of blocked
sterling from considerable exports of
foodstuffs for British account since
the outbreak of war. Second, that
with the free eXchange-or mainly
the United States dollar-zone,
where. Of late, trade has been
undergoing a process of slow but
inevitable strangulation in COnse-
quence of the shortage of dollar
exchange. Third. the South Ameri-
can zone, where Argentina is pur-
suing a vigorous and enlightened
trade policy designed to stimulate TO
the maximum trade interchange
among neighboring South American
republics. The object is to compen-
safe for the loss of overseas export
markets which all the constituent
republics of this zone have suffered.
Some striking figures, illustrative
of the new trade stimulus which the
war has produced in this zone, are
contained in the official trade re-
turns for the first 10 months of the
current year. They offer proof Of
the efficacy of South Americas eff
forts in the direction of the economic
defense of the continent
Argentine exports to Bolivia, for
example, totaled 13623,000 pesos in
1910 as compared with 1851 900 in
the same 10 months of 1899; to
Brazil, 65,456 900 pesos in 1910 as
against 100000 in 1899; to Chile,
17,772,00 pesos as against 8,270000;
to Peru, 11,758O0O pesos as against
7110000, and to Uruguay. 21,366 900
pesos as against 12,764O00.
Balance Is Lacking.
In the second economic zone, as at
the end of October last. the tariff
values of Argentina'S 1910 imports
from the United States totaled
285 100000 pesos as compared with
167000000 over the corresponding
period of 1889 and as against exports
to the United States of 186,00000O
pesos in 1910 and 39OOO.0O0 pesos
in 1899, these figures constituting the
Argentine governments justification
for its recent tightening Of the re-
strictions on United States imports.
In regard to the sterling area posi-