OCR Text |
Show uu Credits to Bankers of South America To Be Decided VALPARAISO. Nov. 18 Chile expels j that the extension of credits to South American countries by the bankers and business man of the United States will bo brought up before the Second Financial Finan-cial Pan-Amcrieon Conference at Was1- ! Ington in January The first conferenc. held in 1915 declared that solution of V3 question of credit was essential. Notional credits also will be considered 1 by the conference. In spite of the enor- J mous gold reserves accumulated in thu banks of the United States during tne war. it seems evident to Chileans that these banks are not yet In a position to I mako investments in South Americr j Evidence of this is seen in the difficulties encountered in negotiating the 116,000.000 loan of the Chilean government to obtain fund.j to buy railroad material It is felt here that, in the matter of public credit. North American bankers should learn from North American merchants Chilean business men believe that North American merchants arc beginning to understand belter th- :nutual convenience to be deri', ed from the extension of 60 90 days credit on bills against Sou-h American houses This has been the practice of European merchants dealing With thoe of South America. Other matters to como before the Ft- nancial conference, aa outlined here, are uniform legislation on letters of exchan1" checks and cargo manifestos; steps to facilitate exchange of product between American nations and adequate transportation transpor-tation facilities between the United Stales and South America. oo |