Goldsboro weekly argus., 1908-12-24
IN-AmER)CAN
MARKETS.
Some Stanctics and nove-
ments That Should Espe-
ciaIly Interest the South.
President Finley Of the Southern
Railway Writes Interestingly
and Impressively ''of Great
Opportunities That Are
Open to the South and
Urges Cooperative
Action.

Washington, ID. c., Dec IA, 1908.
EDITOR ARGUS,
Coldsboro, N. G.
Dear Sir:
Complying with requests from edi- /
Southern States for occasional letters
on commercial and economic topics of
interest to the people of our section, I
take the liberty of writing to you on
the great Importance of the expansion
Of our export trade with the Latin
Amer lean countries.
This is matter of special import
ance to our section, not only because
OF our geographical advantage with
reference to this trade, which, as to the
Pacific Coast countries, will be still
further increased by the completion of
the Panama Canal, but also because a
large portion OF the commodities which
the countries to the south of Us import
can be produced and manufactured ad-
vantageously in the Southern States.
A few statistics will show the great
present importance and future possi-
bilitiss Of these mark cts. In round
figures. the area of Mexico, Central
America, South America, and the West
India Islands is 9,0OO,OOO square miles,
and their com bined population is 65,-
600, 900. Their population is rapidly
increasing. In the year 1907, 329, 122
Immigrants arrived in Argentina alone.
Among South American cities, Rio de
Janeiro will soon have population of
900 900, and -Buenos Aires, the lagest
city IN the world south of the equator.
has Approximately 1900, ,oc0 inhabi-
tants, and the progressive character of
its people is shown by the tact that
they are now arranging 70 pat in a
systan OF s1nd der-ground electric rail-
ways.
The past ten years have witnessed
marked change in political and eco
nomtc conditions in the Latin Ameri-
can countries. Political upheavals are
now of rare occurrence. and these coun-
tries are snaking rapid strides in ma
terial development. In former years
they were seriously hampered by lack
of transportation facilities. Their
needs in this respect are being rapidly
supplied. Nayigable streams are be-
ing improved, wagon roads are being
CONSTRUCTED, and the Latin-American
governments. generally, are pursuing
an enlightened policy OF encourage
ment to railway construction.
Political stability, increasing popu-
lation, and improved means of trans
portation are resulting in material
progress and in an increase in the pur-
chasing power Of the Latin American
peoples. the extent OF which, / believe,
is not generally appreciated in cur
country.
The importance of the Latin Ameri-
can mark cts is indicated not SO much
by the present value of the imports
into those countries as by the rate at
which their purchases from other coun-
tries is increasing. In 1898 the total
value of their purchases from the Uni
ted States was $85, 1851 .s57. Com pairing |
these figures with those tor the last
fiscal year, shows an increase in ten
years of $3.50, ,274, or l76 per cent |
In the same period the total value of
our exports to all the rest OF the world
increased a fraction less than AZ per
cent. Gratifying as this increase is, it |
does not represent what might have
been attained it our people had given
more attention to these markets, for |
many of the countries have increased
their purchases from Great Britain, |
Germany and France even more rap
idly than from the u nited States, and, /
Notwithstanding our geographical ad- |
vantage. they purchase more than
three times much from other coun- |
tries as from us.
The demand of the Latin-American
markets is chiefly for manufactured |
goods and largely for commodities the
raw materials for which are produced