The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1909-06-17
FOREIGN Trade.

While Senator Aldrich, Chairman
Payne, Speaker Cannon and the rest
of the Republican Bourbons are bot
ting up the home consumers for des-
sert for the trusts. preparations are be-
ing made by the great financial inter
ests to invade South America as well
as the Orient in search of trade and
opportunity for the investment of
money. The home market cannot posi-
bly, keep the mills and factories of the
country going. and wealth has accumu-
lated TO such an extent in the financial
centers that millions can be spared for
investment in fields which promise a
large return.
China is apparently the most inviting
spot just at present. and considerable
rivalry exists among the great nations
as to which one shall get the cream.
But South America is not being over
looked, and news comes that American
branch banks will be established in
some Of the larger cities. The trade of
South America naturally belongs to the
N--AN~~ e1Ne~NN9s cLALAAOu5A NCl lldllN ms
been turning over every nook and cor
ner e place her wares on sale, and has
been in a measure successful in so do
ing.
It is said that Secretary Roots trip
around South America in 1906 was for
the purpose Of interesting the vast
amount Of capital in this country in the
republics to the south of US. and recent
developments tend to prove that in this
respect his mission was successful.
Banking facilities down there are woe
fully inadequate so far as American
merchants are concerned, and bills Of
exchange are drawn on London instead
of New York. The establishment of
branch banks by Americans is regarded
as the first step toward securing for
this country the preponderance in South |
American trade which naturally should
come TO it, but which has been held by
Europe for SO many years. It will also /
tend to accelerate more rapid and di-
rect means of communication by steam |
er. another thing lacking at present
The whole country viii approve the I.
course of the administration in taking /
up the cudgels in behalf Of the financial /
and manufacturing interests. and it is /
gratifying to note that the protest re-
garding the Chinese railway loan was |
successful. An official of the state de- |
partment. in discussing this matter at /
the time the protest was made, said:
We took the lead in the open-door |
arrangement which, more than any |
thing else that has been done, makes /
for the preservation Of the integrity of /
the empire. We have always been in
the lead. since China was opened I'D for
western trade. in doing things to help
her without regard to any possible re-
ward while other countries have been
looking for the immediate benefits. It
strikes me that there has been plenty
of altruism and too little participa-
ton
In the meantime, while certain of
expanding commerce abroad.
an effort should be made to tighten the
burdens at home. In the event of a
war over foreign commerce the "ulti-
mate consumer" at home is the fellow
who viii have 10 stand behind the guns
and make good the diplomacy of the
government at Washington. and now
while the tariff is being revised a glori-
Gus opportunity is offered to take the
needs and desires Of this particular in
dividual into consideration. Unfortu-
nately, Republican craftsmanship does
not look beyond the man with the