Evening star., 1951-04-29


ures. now available as a result of
is, the 1850 Department of Com
than ever before. Cocoa, its chief
money crop, has been selling for
higher prices, and the little re-
public has now become an iinpor-
tant rice and banana exporter.
Peru has in the past three years
settled down politically and made
phenomenal economic gains. All
import restrictions have been re-
moved and trade is flourishing.
It's copper, oil, sugar. cotton and
other chief products are now in
great demand. Some of its laws
governing foreign ~ investments
have been modified and consider
able new capital is going in.
Bolivia, whose chief export is
tin, now finds the world crying
for this product. The great re-
finery at Texas City. Tex, built
during World War II to process
Bolivian ore, is again in operation.
It's financial position has so i'm
proved that the government is now
Ireadying plans to resume pay
ments, probably in June, on its
old debts to foreign bondholders.
Chile's copper and nitrate in
dustrieS are again booming, with
ever increasing quantities of their
output coming to this country.
The new Huachipato steel mill,
partly financed by the Export
Import Bank, is now operating
full time. Increasing shipments
of Chilean pig iron are being
made to the United States. Last
year over half of all the long, slim
republics foreign trade was with
this country, whereas. before
World War II nearly three
fourths of all Of its commerce
was with Europe and Asia.
War Affected Brazil
Mexico, the countries of Central
America, the island republics
and Brazil have long done the
greater portion Of all of their
foreign business with us. Mexico
and Cuba buy 80 per cent of all
their imports from this country.
Probably Brazil suffered the
greatest economic dislocations
following and as a result of its
participation in the last World
War. But it still supplies us with
the greater portion of our coffee,
the largest single United States
import.
The Brazilian government has
also been supplying increasing
amounts of dollar exchange to-
cover back debts to United States
exporters and a new Joint United
States-Brazil Economic Commits
sion is now planning further COM
mercial and industrial develop
ments for this the largest and
most populous of the southern
nations. The Export-Import and
International Banks have loaned
nearly 5000 million to various
Brazilian enterprises In the past
Is months.
Uruguay has not only become
a good customer in recent years,
but the progressive and demo-
cratic little country is now at
tracing large amounts Of United
States and other foreign private
capital. We buy almost it's entire
annual wool crop. and Uruguay
ans prefer United States manu-
factured products above all others.
Argentina presents the most
unpromising outlook for United
States trade and investment of all
the Latin American republics. We
have been buying increasing guam
titles of it's canned beef, wool,
quebracho Canning extract) and
other such products in the past
six months. Argentine purchases
OF agricultural machinery and
other manufactured products from
this country have increased con-
siderably since the Export Import
Bank loaned the Peron govern
ment $125 million.
In 1850 we were Argentina's
best customer. But economically
she has been and apparently still
remains oriented toward Europe.
Although we bought 1853 per cent
more of her products in 1850 than
in the preceding year, her pur-
chaSes from us went up only IA
per cent over the year 1949.
France stands fourth on the
list among Argentina's Gus
toners, but she bought sol
per cent more French goods
in 1850 than in 1949. The totali-
tartan nature of the present Ar
gentine economic as we'll as po-
litical setup makes it impossible
to predict our future business re-
lations with that country with
any certainty.
War HI