The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-11-21
ROOT 81 AZES WAY
TO YANKEE WEALTH
Points Out Vast Opportunities in South
America---Praises Monroe
Doctrine.

{
trans Mississippi commercial congress
mere last night Elihu Root, secretary of
state, delivered his second speech in
this city within two days. AS on Mon
cay night, Mr.. Root tonight again dwelt
upon our relations with the South Amer
lean republics, telling Of his recent trip
thru these countries. 49, /.
He said the time had come for the ex-
panslon of trade between the countries
OF the north and south that would re-
suit IN the peaceful prosperity of a
mighty commerce. a .
lie declared the means of commune
cation between these countries must be
improved and increased, and said the
Woeful deficiency in the means to
carry on and enlarge our South Amer
lcan. trade is but a part of the general
decline and feebleness of the American
merchant marine.'' -..
Secretary Root IS subject was "Com-
mercial Union with South American
Republics, - and he spoke, in part, as
follows - 81. IS
A little less than three centuries of
colonial and national life have brought
the people inha biting the United States,
by process of, evolution, natural and
with the existing forces inevitable, to,
a point of distinct and radical change
IN their economic relations to the rest
OF mankind. - - e." ~:
During the period now past, the en-
eergy Of our people,, directed by the
population by heredity, by environ
ment, by the struggle for existence,
by individual Independence, and by
free institutions. has been devoted to
the, internal development of our own
country. The surplus wealth produced
by our labors has been applied i'm
mediately to reproduction in our own
ests and breaking virgin soil and fen
cling prairies and opening mines of
coal and iron and copper and silver
and gold, and building roads and ca
nails and railroads and telegraph lines
and cars and locomotives and mills and
furnaces and schoolhouses and colleges
and libraries and hospitals and asy-
lums and public buildings and store
houses and shops and homes. We have
been drawing on the resources of the
world in capital and in labor to aid
us in our work. We have gathered
strength from every rich and powerful
nation and expended it upon these home
understandings; into them we have
poured hundreds of millions of money
rope. We have been always debtor
nation, borrowing from the rest Of the
world, drawing all possible energy to-
wards us and concentrating it with our
own energy upon our own enterprises.
The engrossing pursuit of our own OPP
portunities has excluded from our con-
sideration and interest the enterprises
and the possibilities of the outside
world. Invention, discovery, the prog
ress OF science, capacity for organiza-
ton. the enormous increase in the pro-
ductive power of mankind, have accel-
Grated our progress and have brought
us to result of development in every
branch of internal industrial activity
marvellous and unprecedented in the
history of the world.
Surplus of Capital Now.
Since the first election of President
Mckinley the people of the United
States have for the first time accumu-
lated surplus of capital beyond the
requirements Of internal development.
That surplus is increasing with extraor-
binary rapidity. We have paid our
debts to Europe and, have, become a
creditor instead Of a debtor nation;
we have faced about; we have left the
have entered the ranks Of the investing
nations. Our surplus energy is. begin
ming to look beyond our own borders,
thruout the world, to find opportunity
for the profitable use of our surplus
capital, foreign markets for our manu-
features, foreign mines to be developed,
foreign bridges and railroads and pub.
lie works to be built, foreign rivers to
be turned into electric power and light.
As in their several ways England and
France and Germany have stood, SO we
in our own way are beginning to stand
and must continue to stand towards the
industrial enterprise of the world.
That we are not beginning our new
role feebly is indicated by $1,51s, 56l,-
666 Of exports in the year 1905 as
b $174s, S645oo exports IT. i in the y aaq
1906 as against $1,226,563,S 42 Of i'm
Our first steps in the new field in
deed are somewhat clumsy and un-
skilled. In our own vast country with
oceans on either side we have had too
little contact with foreign peoples read
lily to understand their customs or slearn
their languages; yet no one can doubt
that we shall learn and shall under
stand and shall do our business abroad
as we have done it at home with force
and, efficiency. ~ ..- ...u. IN
Coincident with this change in the
United States the progress Of political
development has been carrying the
neighboring continent Of South Ameri-
ca out of the stage Of militarism into
the stage Of industrialism. Thruout'
the greater part Of that vast continent
revolutions have ceased to be looked
upon with favor or submitted to with
indifference; the revolutionary general
and. the dictator are no longer the OBJ
jects Of admiration and imitation; civic
virtues command the highest respect;
the people point with satisfaction and:
pride to the stability of their govern
ments, to the safety of property and
the certainty Of justice; nearly every
where the people are eager%for foreign
sources >and for foreign immigration to
occupy their vacant land. " -
The Prize Is Rich One.
Immediately before us, at exactly the
right time, just as We are ready for
it, great opportunities for peaceful com
mercial and Industrial expansion to the
south are presented. Other investing
nations are already in the feld-Eng-
land, France, Germany, Italy, Spain
but the field is so vast, the new de-
mands are SO great, the progress so
rapid, that what other nations have
done up to. this time is but slight
Advance In the race for the grand total.
The opportunities are so large that
figures fail to convey them. The area
Of this newly awakened continent is
,502 ,848 square miles, more than two
and one-half times as, large as the
United States without Alaska and more
than double the United States including
Alaska.
A large part Of this area lies within
the temperate zone, with an ,equable and
inyigorating climate, free from :ex-
frames IF either heat or cold Farthar