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.BVljEtafG PUBLIC LEDGER-PHILADELPHIA, THURSDAY, . DECEMBER 26, 1918
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2!5B Gi2A 71 RECONSTRUCTION PERIOD
WZLir DOS J71 MEAN?
0 the average lay mind the "reconstruction period" is merely a
phrase meaning, at the most, a rebuilding of the devastated
areas of war-torn Europe. To the business man, whose mind for
approximately four years has been focused on the industrial and
economic problems growing out of the world war, it means the welding
together of the constituent parts of the business, industrial and banking
resources of the country to meet the necessities of the future both at home,
and abroad.
Reconstruction, then, means what? It means the co-ordination of indus
tries all along the line. It means to be prepared to act quickly and intel
ligently upon the advantages to come. And there is not a man, woman or
child throughout the length and breadth of the
nation who will not share in the fruits of this
great opportunity now opening to us.
It is a well-proven truism that "coming events
cast their shadows before." Already there is a
bolstering up of public thought and action. The
keynote is optimism. The entire nation is
facing a new era of prosperity fraught with un
told opportunities.
And these opportunities are real opportunities
not evanescent or a thing of the moment; but
lasting.
A little more than a year ago it became neces
sary for the Government to intervene in the in
terests of national welfare and take over control
of many of our most important industries. In
others, the entire production capacity and out
put were commandeered to meet the growing
needs of the armies abroad. And yet further
to meet the growing demands for materials for
war needs, it was made necessary to curtail the
production capacities of others that the much
needed raw materials might be diverted into
more necessary channels.
Then came the necessity f$ a priority system
and the organization of the Priorities Division
of the War Industries Board under the direction
of which those products most vital to the military needs of the country were
given preference oyer all others in shipment and in manufacture. As a re
sult many factories closed down or further curtailed production.
The entry of the United States into the war meant that the entire nation
had bound itself to its Allies to see them through to victory whatever the
cost in men or treasure. Three years of war had depleted the resources of
OUR HOME IN BUENOS AIRES
England, France and Belgium yes, the entire world to a perilous degree.
It was the business of the United States, the treasure house of the world
nations, to repair them in so far as it was able.
Conceive, if you can, a world laid waste. Millions upon millions of people
deprived of the luxuries of life, in many instances even the veriest necessi
ties with which to keep the vital spark alive, waiting for those things which
we can, out of our plenty, supply. That is the world today!
For four years our national industrial life has been concentrated on the one
idea of winning the war. As never before in our history our industries have
been speeded up and expanded to the extent of $2,000,000,000 until now
they are turning out their products in maxi
mum quantities.
And now Peace! Peace with its hopes, its
problems and its untold opportunities!
While the needs of our own domestic markets
are great, they cannot begin to absorb the tre
mendous output of our manufactories. The
natural outlet is the foreign markets. Now is
the time to strike!
In a few months the millions of tons of new
shipping, which has been built in our own,
American shipyards, will be released for com
merce by the Government. It is a vast fleet,
and in it should go American-made products to
the furthermost ports of the World.
Under these existing conditions what is the
first step to be taken in building up our trade
abroad? It naturally follows that finance must
be prepared, or the efforts of commerce and
industry are set at naught.
Anticipating this particular condition, the First
National Banl of Boston fully equipped its
Foreign Department to transact every phase
of banking business abroad. South America,
however, especially Argentina, is the most logi
cal field for immediate action, for two reasons:
(1) The two American continents are geo
graphical neighbors. (2) South America has,
raw materials needed in the United States, and
the United States has manufactured products required by South America.
Thus the First National Bank bf Boston established a branch in Buenos
Aires completely equipped to render every banking service, to supply valu
able information regarding rade opportunities and to act in many other
capacities for American merchants, manufacturers and others seeking to
extend their business in this field.
interested in foreign trade, our officers will be glad to consult with you.
The First National Bank
of BOSTON
New England's Largest Bank:
Capital, Surplus and Profits, $27,000,000
Resources $250,000,000
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