The sun. [volume] (New York [N.Y.]) 1833-1916, 1908-09-20

tho world, and although ss yet they find
uncertain ventures ut q distanoe-as IN
the Philippines-less attractive than In
yeatmeuts at home, nevertheless where
they do soc an alluring prospect not Iar
away-es In Cuba and are
not Backward In risking their q
OF late too they have begun to hold the
bonds Of foreign Governments. They
may therefore now be regarded az be.
longing and likely to belong moro and
more to the GLASS Of creditor rather than
of debtor nations, and consequently
their sympathy will tend to 80 not Win
the reputation Of debts but with the pay
ment of them. Mr.. Coolidge Ii convinceo
that In any case where Americans nave
large sums at stake they will never per
init their Government TO remain indiner-
emit TO the security thereof; witness the
present occupation Of Cuba. 1t seems
to him that although the United STATES
has been long enough In its new position
Of q creditor Power to have modified pro-
foundry It's foreign policy there has been
already q change. He thinks that q gen
GRAFTON or two ago 1t might have hailed
the Drago Doctrine with enthusiasm, TOT
ten Of our own States have in the past re-
pudisted their bonds. Now. on the other
hand, our Federal Government has sup
ported at The Hague only q much softened
version Of that doctrine. and It has aided
santo Domingo TO satisfy her creditors
insteadfof defying them.
Mr.. Coolidge directs attention to another
economic phenomenon affecting the In
ternational relations Of the United States
namely, the Transformation whioh ID
taking place In It's export trade. Greatly
as It's exports Of raw materials have In
creased, those Of manufactured goods have
grown faster still. In 1880 the latter formed
but I21S per cent. OF the total; IN 1895
they were 2shz per cent; In 1909 they were
Sax per cent. and the future appears 10
belong to them. With the growth Of the
population at homo the supply Of wheat
for expectation must diminish. and may
noon disappear altogether. TN develop
ment In the United States Of an immense
cotton manufacturing industry. which
makes an increasing homo demand on
the crop, leaves less and less for foreign
countries, several Of which are to-day
making strenuous efforts to find an indie
pendent source OF supply in their "
colonies. On the other hand. South
America. Africa and Asia produce sufa-
Client food for their " wants and are
rich in metals and In raw materials. It
Is obvious that exports to such regions
must consist chiefly Of manufactured
articles.
The author OF this book points out
that the political consequences OF this
change are already felt. When American
statesmen set themselves to face the
international commercial situation they
perceived that the policy Of aiding and
protecting the national exports must
be adapted to circumstances. In dealing
with the European Powers and their
dependencies no originality was re-
quired; the United States was meeting
equals. and in most cases rivals. There
room. no doubt. for q mighty develop
ment OF trade. but our Federal Govern
ment could do little to further 1t except
by insisting on fair treatment. by i'm
proving Its consular service and lastly
by concluding profitable commercial
treaties, O matter In which IL was less ham,
pered by the demands OF foreign
tries than II was by the unreasonable
ness OF the uitra-proteotionists at home.
Since the larger halls Of Asia. almost all
Of Africa and the whole Of Australia were
In the hands Of European peoples q good
part Of the world WIS accounted" for.
h..-. So, 81 ~
There remained, however. two regions
where Americana believed they saw
splendid possibilities for the future.
though to make the most Of those posi-
biltias they must take. as they saw.
prompt and decided action. In the Latin
American republics there was no highly
developed. manufacturing industry to
be feared as a rival. There was nothing
but the competition Of Europe, and al
though Europe had long had the field
practically to itself u c~ountrymen were
convinced that they could meet this COM
petition v~iotoriously II only they made
the best OF their natural advantages.
They recognised that the first stop was to
draw closer to these fellow republicans to
the south. Tho recognition led to the pol
10y known a. Pan -A~mericanism.
The other tempting held for American
enterprise lay In the Far East. where hun
dreds Of millions OF human beings were
just waking up at the rude contact Of tho
outside world to the advantages Of deal
ing with the hated foreigner. Here. in
deed. seemed to be magnificent oppor-
tunities. Ardent imaginations pictured
the countless population Of the Middle
Kingdom lighted by American petroleum.
working with American tools. dressed In
American cotton. Hence the eager adop-
ton by our State Department Of the pro-
gramme OF the 'Open Door at a time
when the fair visions Of American COM
meroial ~ascendanoy In the Celestial EN-
pire had not been oloudsd by the eompe-
tition Of Japan and the new activity OF the
Chinese themselves.
Before taking leave Of this subject
Mr.. Coolidge shows that the first appli-
cation Of the principle Of the "open door
to our business oame in a way that Amsri-
CAM had not at all expected. When they
had embraced the doctrine Of equal
chances Tor all In Far Eastern regions they
had M thought that It might apply to
them. and BY the time that they had them
selves acquired Far. Eastern colonies a. q
RESULT Of the Spanish war. they had COM
mitted themselves to the self-denying
policy. How could the United States pro-
claim the principle Of the open door In
the Far. East. maintaining for instance