The Bamberg herald. [volume] (Bamberg, S.C.) 1891-1972, 1908-12-24
EXPANSION OF EXPORT TRADE

President Finley Writes on Sub
iect of Interest to Southern Busi.
ness Men and Farmers.
Southern Railway Company, Office
of the President, 1900 Pennsyl-
vania Avenue,
Washington, D. c., Dec. IA, 1908.
Editor The Herald. Bamberg, S. G.
Dear Sir: Complying with re-
quests from editors of newspapers
published in the Southern States for
occasional letters on commercial
and economic topics of interest to
the people of our section, l take the
liberty of writing to you on the
great Importance of the expansion
of our export trade with the Latin
American countries.
This is a matter of special i'm
portance to our section, not only be-
cause Of our geographical advant-
age with reference to this trade,
which, as to the Pacific coast coun-
tries, will be still further Increased
by the completion of the Panama
canal, but also because a large pro-
portion of the commodities which
the countries to the south of us i'm
port can be produced and manufac-
tured advantageously in the South
ern States. A few statistics will
show the great present Importance
and future possibilities of these
markets. In round figures, the COM
bined area of Mexico, Central Ameri-
ca, South America, and the West In
dia. Islands is 100000 square
miles, and their combined population
is 65,000,000. Their population is
rapidly increasing. In the year
1907, 329,122 immigrants arrived
In Argentina alone. Among South
American cities, Rio de Janelro will
soon have a population of 100000,
and Buenos Aires, the largest city in
the world south of the equator, has
approximately 100000 inhabitants
and the progressive character OF its
people is shown by the fact that they
are now arranging to put in sys-
tenn of underground electric rail-
ways.
The past ten years have witnessed
a marked change in political and
economic conditions in the Latin
American countries. Political up
heavals are now Of comparatively
rare occurrence, and, with few ex-
ceptions, these countries have stable
governments which afford adequate
protection to life and property. They
are making rapid strides in material
development. In former years they
were seriously hampered by lack OF
transportation facilities. Their needs
in this respect are being rapidly sup
Piled. Navigable streams are being
improved, wagon roads are being
constructed, and the Latin-Amerlcan
governments, generally, are pursu-
ing an enlightened policy of encou-
ragement to railway construction. In
1907, for instance, over 900 miles OF
new railway were constructed in Ar
gentina, making the total length OF
the lines in operation in that coun-
try $4,000 miles. In Brazil 436 miles
of railway were built in 1907, bring
ing the total mileage up to 1859
miles. Mexico has IA, ,181 miles OF
railway. Chile has 1900 miles of
railway, and in the mountain coun-
try of Bolivia a plan Of construction
involving the expenditure of ST.
900, 900 of governmental and 'pri-
vate capital has been adopted. Poll
tical stability, increasing popula-
ton, and improved means OF trans
portation are resulting in material
progress and in an increase in the
purchasing power of the Latin-Am-
erican peoples, the extent of which,
I believe, is not generally appreciat-
ed in our country.
The Latin-American countries
produce an abundance of commod1-
ties that are in demand in other
lands. The combined value of their
exports, almost wholly made up of
manufactured articles, is about
s1,072,000,000 per year, The COM
bined value of their imports, compos-
ed chiefly of manufactured articles,
amounts, approximately, to $1,005,-
100000 per year. Our country is
their best consumer. In the year
ending June 80, 1908, we bought
from them commodities to the value
of $2S7,O58, In the same year
our sales to them amounted to
$236,632,131. The Importance of the
Latin-American market 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 countries are increasing.
In 1898 the total value of their pur-
chases from the United States was
$85,S61,857. Comparing these fig
ures with those for the last fiscal
year shows an increase in ten years
of s150,770,274, or It's 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 in
crease is, it does not represent what
might have been attained if our peo-
pie had given more attention to
these markets, for many of the coun-
tries have increased their purchases
from Great Britain, Germany and
France even more rapidly than from