The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-11-21

cause nothing but very bad manage
ment could prevent such a bank from
making money; capital is much needed
II these. cities, and g.. 8 and 10 percent
can be obtained for money upon. just
as SAFE =! security as can be had in KAN
IS also because the American bank
would furnish a source Of information
as to the standing of the South Amer
lean purchaser to whom credit may be
extended, and because American banks
you'd relieve American, business in
South America from the disadvantage
which now exists Of making all its
stead of directly with the United
States. It is unfortunately true that
among hundreds Of thousands Of pos
slble customers the United States now
stands in a position Of assumed fnan-
Iclal and business inferiority to the
countries thru whose banking houses
all y. It's It's business Isl has to be done.
Flfth-Ihe American merchant should
acquire himself, if he has not already
done 20, and should impress upon all
bis agents that respect for the South
American to which he is Justly entitled
ana Whlch IS the essential requisite to
respect from the South American.
Slxth-Ihe Investment of American
capital IN South America under, the
dlrectlon OF American experts should
pc promoted, not merely upon simple
investment grounds, but as a means 'of
creating and enlarging trade. For sim
pie investment purposes the opportuni-
ties are innumerable. ~. IN
Few Ships Fly Old Glory
Seventh. It is absolutely essential
that the means of communication be-
tween the two countries should be i'm
proved and Increased This underlies
all other considerations and it applies
ooth 10 the mail, the passenger and. the
freight services. Between all the prin
clpal South American: ports and Eng
land, Germany, France, Spain, Italy
lines OF swift and commodious steamers
Ply. regularly. There are five s,Ib
sldlzed f1rst-class mail and passenger
lines between Buenos Aires and Eu-
| rope; there IS no line between Buenos
ARES and the United States. With.
II II me, past two years the German, the:
i Engl1lsh and ID the Italian lines have been
I replacing their old steamers with new
I ana sWlIter steamers Of modern con
structlon, accommodation and capacity.
IN the year ending June 80, 1905, there
entered the port Of Rio de Janeiro
steamers and sailing vessels fving The
lag OF Austria-Hungary 100, of Nor
way l42, of Italy 1865, of Argentina
eef, OF france $40, of Germany 657,
Ct Great Britain 1885, of the United
otates no steamers and seven sailing
vessels, two Of which were in distressi
The mails between South America and and
Europe are swift, regular and certain:
6etWeen South America and the United
states they are slow, irregular and nm.
certain. The passenger accommodations
are such as to make&a Journey e. the,
United States atrial to be endured and
journey to Europe a pleasure to be
enjoyed; The best way to travel be-
tween the United States and both the
West-coast and the east coast Of South
crossing the Atlantic twice. It is in In,
possible that trade should prosper or
intercourse increase or mutual -knowl-
cage grow to any great degree under
such circumstances. =
| This woful deficiency in the means
TO carry on and enlarge our South
american trade is but? a part Of the
Egeneral decline and feebleness Of the
Amerlcan merchant mariner which has
cent OF our export trade in our own
sh1ps to the. carriage Of 9 per cent Of
mat trade in our own ships and de-
pendence upon foreign shipowners for
the carriage Of 81 per cent. The true
! remedy and the only remedy is the es
tapllshment of American lines of steam
s1hlps between the United States and
the great ports of South America ade-
9uate TO render fully as good service
Lines between those ports and Europe.
1 The. substantial underlying fact was
well stated in the resolution of this
trans Mississippi congress three years
ago.: - p"
| That every ship is q missionary Of
trade. that steamship. lines work for
their own countries just as railroad lines
work for their terminal points, and that
1t IS Jas absurd for the United States to
| depend upon foreign ships to distribute
its products as it would be for a d.
partment store to depend upon wagons
of a competing house to deliver it's goods
! How can this defect be .remedied2
l think tn the answer is twofold
Inc higher wages and the greater
| cost OF maintenance of American off
GERS. and crews make it impossible to
compete on equal terms with foreign
ships. ~ - = oAsn
The principal maritime nations of
the, world, anxious to develop their
trade, to promote their shipbuilding
industry, to have at hand transports
and auxiliary cruisers in case Of war.
! are fostering their steamship lines by
the payment Of subsidies.
Blame at Our Own Door.
1t will be observed that both Of these
d1sadvantages under which the Ameri-
can sh1powner labors are artificial;
they are created by governmental &C,
ton, one by our own government.
IN raising the standard of wages and
hylng,, by. the protective tariff, the
/ other by foreign governments in paw
I ing: subsidies. to their ships for The
promotion Of their own, trade.
What action ought our government
just purpose9 Three kinds Of action
have been advocated.
Flrst-A law providing for free
sh1ps;, that, is, permitting Americans to
buy ships in other countries and bring
them under, the American flag. Plainly =