The Waterbury Democrat., 1941-06-27

| M $SM Nto '6p0utSn wal
 taught in thI
 EszsaNAssA public schools |, RAn@n introducing thu
 rhumba in UtAf and talking all South American baS mon. characters out of Hollywood movies intended for export,
 There has been Q good bit of that its true, but far more important though less spectacular, has beer the real emphasis put by the Rock. efeller oitlee on the commercial enc of Its program. The cultural stuff Is nice, and it has done lot of gooS In making everybody simpatlco and Americas conscious, but that Is only the tahasco sauce on the commer- cial activities, which are the real tamales,
 The Rockefeller offlce won't be . year old until August, During its first year, the Coordination has been done at the expense of the Presidents emergency funds, which sot aside something over three mill lion dollars to get along ln Q hurry, before the NaM fire burned down the good neighbors' houses, Curren. ly, the Rockefeller ofiice is before Congress with . budget of more than $l0 million to carry on It's work during the next year, From any angle, 1t looks like cheap insur- Nnce.
 MAGIC GETS
 THE GATE -
 The financial and trade spheres of the Rockefeller act have not been juggled to produce anything spec- taeular, and perhaps that's why the commercial program has not att traeted the attention 1t should. 1n- stead of producing nifties and rab- bits, the dollar-a-year men furntsh- ing the brains have reached under their hats and goen after their prob. lem as Q long-time job.
 One of the older hands and heads who have been shaping policy for Rockefeller activity has been Jo- Seph c. Rovensky, . director of the Chase National Bank of New York, Rovensky first discovered" South America 40 years ago, He has been all over 1t, the last time in 1887. He has been plugging South America continually, to such an extent that 6 lot of his associates have thought hiIn little hlpped on the subject, But now, at c dollar . year, in a silk shirt and an infancy ofiiee in Washington, he laborS like any other government clerk, only harder and longer, promoting his pct hobby, the furthering of inter-Amerlcan Anan- eial and trade relations,
 When the Rockefeller organiza- ton first got going, they began to olok for the critical, strategic ms. terlals the United States didn't have. The metals ending In m and n - tungsten, vanadium, magnesium, heryilium and that family. They even looked at the copper supply, though U. s. copper interests said they could produce oil the country needed. Now. with copper rationed and a shipping shortage on, copper men are wishing they hadn't been so cocksure and had lot more South American ore or igots cotne into the country,
 MAY EVEN NEED
 THEIR IRON ORE
 It Is Rovensky's belief now that if tho war lasts long enough, the Uni- ted States may even be needing South American iron ore, He may be damned roundly for this prediction by American mining men, but the limited supply of the Messabi range ore Is well known, and since the big demand Is for steel and more steel for armaments and shells, the na- ton can well consider the question of its Iron ore supply.
 The copper and iron ore examples are perhaps extreme cases, but they emphasize the importance of the Rockefeller program, the objective of building up permanent inter- continental commercial relationship, with greater Inter American trade consciousness,
 Rovensky's favorite story is the old one from the last war about the colored soldier who slashed at 6 German soldier with Q razor.
 "Never touched met" grinned the German. "Wait!" said the darky, "till you shakes yo' headl" Roven- sky's point Is that there are still too many golf-playing business men who. like the Germans, are still walk ing around with their heads cut of and don't know 1t,
 If Q statement oS that kind came from New Dealer, 1t would be con- Sidered the usual hate business phil. osophy of the administration. Com ing from Q silk-shirted director of the Chase National Bank, you have to listen to it with respect.
 WASHINGTON-SOUTH
 AMERICAN TRADE NOTES
 Santa Claus money ear-marked for South American loans by Ex- port-Import bank has not been grabbed at by god neighbor coun- tries as fast as was expected. Arr gentina was seven months in rati- flying her .. s. loan agreement .. Warren Lee Fierson, president of Export-fmport bank, has been one of the best government commercial travellers" in bootsing trade with South America. Currently, he is in Cuba working out three or four year plan to handle the islands surplus sugar Russia has been buying South American coffee for reshipment to Germany One place Germany has been putting money formerly invested in the United States has been in South American fixed assets. Purchase of large South American rubber stocks has helped shoot the price up from 27c to 40c Japan, realizing she's in U. s. doghouse, has stepped a.a~ .~~-a~zg.smv.Gma &xA AWxyaw.sR @ap