The Wilmington morning star., 1941-02-23

tinct-and, today-substantially diff
ferent, economic categories. First,
interchange with the sterling area
zone where his country has &C.
cumulated heavy b a l a C S OF
blocked sterling from considerable
exports of foodstuffs for British &C
count since the outbreak of war.
Second, that with the free ex-
change-or mainly the U. S. dollar
zone where, of late, trade has
been undergoing a process OF slow
but inevitable strangulation in con
sequence 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 Ameri-
can republics. The object is to
compensate for the loss Of over
seas 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
returns for the first ten months of
the current year. They offer proof
Of the efficacy of South Americas
efforts in the direction OF the eco
nomic defense of the continent.
Argentine exports to Bolivia for
example totalled 1898, 900 pesos in
1910 as compared with 1881, 900 in
the same ten months of 1889; to
Brazil, 65, 456, 900 pesos in 1910 as
against 81, ZOO, 900 in 1899; to Chile
IT,, 772, 900 pesos as against $780,
900; to Peru, II, 1853. 900 pesos as
against lilo, 900; and to Uruguay,
q, 1866, 900 pesos as against II. 1884,
900.
In the second economic zone, as
at the end of October last, the
tariff values Of Argentina's 1910
imports from the United States
totalled 285, 600, 900 pesos as COM
pared with 1877, 900, 900 over the cor
responding period of 1889, and as
against exports to the United States
of 1856, 000, 900 pesos in 1910 and
139, 600, 900 pesos in 1889, these fig
ures constituting the Argentine
Governments justification for its
recent Tightening Of the restrictions
on U. S. imports.
In regard to the sterling area
position, negotiations are still in
progress between this country and
the United Kingdom aiming at a
solution of the difficulties in this
zone, and as to whether these may
be yet resolved On the basis OF a
triangular arrangement to IN 'lude
the U. S. A. as seemed possible at
a recent stage, or on a strictly BIZ
lateral Argentine-U. S. footing, no
reliable data is as yet available.
Thus, in the matter Of Argen-
tina's financial and economic out
look, interest at the moment OF
writing centers definitely in the
possibilities, and-from Argentina's
pont of view-in the urgent need,
Of a trade understanding with the
U. S. A.
The news of Americas decision
to grant financial assistance in tine
form Of loan and credit faciIlties
totalling 100, 600, 900 dollars to this
republic has produced considerable
satisfaction in all circles of Ar
gentine official and public opinion.
The utilization of those resources
cannot but modify substantially the
whole outlook Of U. S. trade inter-
ests in Argentina during the COM
ing year, and should lead to an ap-
preclable relaxing of the drastic
import restrictions on U. S. gooas
Wnlch were foreshadowed in the
Iii finance Dninicfo,s. o4,,J-