Show lA LATIN TIN AMERICA IS I i FINANCIAllY SOUND I D Despite spite Trade Balances Nations Prosper I I I Washington Nov 13 je the falling falling fall fall- fallI I I ing oft off of ot South Americas America's favorable trade balance with the States conditions in most Latin-American Latin countries countries countries coun coun- tries seem to to be fundamentally sound according to Acting Director Charles E E. Herring honing of the bureau of foreign and domestic commerce As the normal market for raw materials materi materI- als on which the economic prosperity of Latin-America Latin depends is reestablished conditions there will right themselves es Mr Herring declared in a survey of trade conditions It It is to be expected that as lower prices arc are definitely reached and consumers In the United States Stites and ind elsewhere resume their normal purchases th slump In the market for tor South American raw materials will be relieved bv by hE heady fy a purchases purchaseR In the United d Stats r Canada and non-European non countries coun coun- trie tries Anticipation of further price reduction reduction tion in the United States Mr Herring said is an awkward factor m Int In l the situation situation situa situa- tion Furthermore he added the Latin Latin- American importer in Man many ca cases es is obliged obliged ob ob- ob- ob liged to pay a premium of from 20 to 30 10 per cent on account of pf his depreciated Currency The decreasing purchasing power of ofa ofa ofa a large part of continental Europe no doubt contributes s to the of Latin American exporters Mr Herring Stated d This Is particularly rt r true in the f rie cases cibes l of n products rs like coffee cocoa and I It likely therefore therefore there there- r sugar seems fore t that st the commercial l position of Latin America will be greatly improved as soon as the present wave of deflation tion and price cutting in the United States has spent itself but that complete complete com com- stability can an hardly be restored until important European countries are in a better position to make their normal normal normal nor nor- mal I purchases abroad |