loCentral American countries, one by one, as rapidly as possible, along lines that will tend to cause their business and banking transactions to be handled largely through the United States. This 18 easier said than done, and step (b) probably will have to be taken first. 6) Before undertaking rehabilitation we should, looking to this end, cause to be established now in the capital of each Central American Republic a bank. This might be a branch of any American bank, or banks, or, in the last analysis our Government might arrange for the establishment of Reserve banks. But one way or another an American bank should be establishod now in each little Central American country.
It should be organized with sufficient capital to ongage in the larger transactions and have especially in mind the training of its personnel 80 that it might be in a position successfully to undertake the financial rehabilitation of the country when the time became opportune. reliable American bank 80 conducted as to inspire public confidence is almost certain to be entrusted with the greater service of aiding in refinancing the country in which it is situated, and of stabilizing its exchange, provided its Managers are capable of handling intelligently such an undertaking.
lo) Those who propose undertaking such banking extensions should lose no time in making a study of the conditions peculiar to each country. Commercial banking will almost certainly be indispensable if much money is to be mado. How to make money out of banking in Latin America cannot be learned in a day, it takes time.
la) Recently a Salvadoran banker was put on the Enemy Trading list of this country and our people were surprised to learn that the bank employees, from manager down were mostly German. But this same condition existed in all Salvadoran banks, sare a branch of an English bank recently established at San Salvador. This suggests the necessity of undertaking the education in Spanish and in Commercial Banking of a suitable number of young Americans. As this cannot be accomplished in a moment, it might not be amiss in some