Show UP S ra first ast III in south amer american ican trade despite tall tales of german and italian trade gains in south america to the detriment of the united states figures of the state department show we are more more than holding bolding our own with the neighbors to our south since the world war when blockades and business at home forced germany and great britain to curtail foreign trade activities tivi ties yankee merchants have increased their business with the other americas in 1937 the latest figures available per cent of all S south american trade was with the united states while germany italy japan and great britain had a total of only 32 per cent the balance was distributed among lesser nations figures Figu for 1938 may show italy and germany haven have increased their trade with south america the latter chiefly through its barter trade system since germany is short of foreign exchange her principal export import activity consists of swapping from south america the reich has taken cotton cp app per nitrates and coffee in iii exchange TO U S A 6 T pie showing united states share in south american trade compared with the smaller share of 01 germany italy japan and great britain remaining amount is divided among lesser nations for aski ask marks which can be redeemed only in the purchase of ex exl ports from germany thi this s method of trade admittedly has been damaging to american exporters but they expect the menace ace to be short lived this is because south Aine american rican merchants can swap their exports export ifor for ger min ria n manufactured articles just io so long and then they find all their money tied up in washing fig machines fence wire trucks and tractors soon the south american nation can absorb no more of these products so the importer must cease buying from germany germany has already begun to feel the effect of this vicious circle and I 1 is attempting to find new ways 0 ot f bolstering her declining foreign exchange united states slates participation in south american trade was negligible until 1914 when were welcomed into brazil chile and argentina |