The Holly chieftain., 1912-12-06


present danger of international com
plications due to disorder at home
Hence the United States has been
glad to encourage and support Amer
ican bankers who we're willing to lend
a helping hand to the financial re-
habilitation of such coutries because
this financial rehabilitation and the
protection Of their custom houses from
being the prey OF would-be dictators
would remove at one stroke the men
ace Of foreign creditors and the men
ance OF revolutionary disorder.
The second advantage to the Unit
ed States IL one affecting chiefly all
the southern and gulf ports and the
business and industry Of the south.
The republics Of Central America and
the Caribbean possess great natural
wealth. They need only . measure OF
stability and the means Of financial
regeneration to enter upon an era OF
peace and prosperity. bringing proft
and happiness to themselves and at
the same time creating conditions
sure to lead to . hourishing In
terchange Of trade with this country
Fwish to call your especial attention
to the recent occurrences in Mica
ragua, for / believe the terrible events
recorded there during the revolution
OF the past summer-the useless loss
Of life, the devastation of property,
the bombardment Of defenseless cities.
the killing and wounding OF women
and children, the torturing OF non
combatants to exact contributions.
and the suffering Of thousands OF hu-
man beings-might have been avert
ed had the department of state,
through approval of the loan conven-
ton by the senate, been permitted to
carry out it, now well-developed policy
Of encouraging the extending Of f.
nancial aid to weak Central American
states with the primary objects OF
avoiding Just such revolutions by as
sisting those republics to rehabili.
tate their finances, to establish their
currency on q stable basis. to remove
the custom houses from the danger
Of revolutions by arranging for their
secure administration, and to estab-
lish reliable banks.
Agricultural Credits.
A most important work, accom-
plished in the past year by the Ameri-
can diplomatic officers in Europe, is
the investigation of the agricultural
credit system in the European coun-
tries. Both as a means to afford relief
to the consumers OF this country
through a more thorough develop
ment of agricultural resources and as
means Of more sufficiently maintain
ing the agricultural population, the
project to establish credit facilities for
the farmers is concern of vital i'm
portance 10 this nation. No evidence
of prosperity among wellestablished
farmers should blind US to the fact
that lack of capital is preventing a
development OF the nations agricul-
tural resources and an adequate In
crease of the land under cultivation;
that agricultural production is fast
falling behind the increase in popula-
ton; and that. in fact, although these
well-established farmers are main
tanned in increasing prosperity be-
cause of the natural increase in popu-
lat;on, we are not developing the in
dustry OF agriculture.
The need of capital which American
farmers feel today had been expert
enced by the farmers of Europe, with
ago. The problem had been success
their centuries-old farms, many years
fully solved in the old world and 1t
was evident that the farmers of this
country might profit by a study of
their systems. l therefore ordered,
through the department of state, an
to be made by the diplo-
matte officers in Europe, and l have
laid the results Of this investigation
before the governors of the various
states with the hope that they will
be used to advantage in their forth.
coming meeting.
Increase Of Foreign Trade.
In my last annual message said
that the fiscal year ended June 80,
1911, was noteworthy as marking the
highest record Of exports of American
products to foreign countries. The
fiscal year 1912 shows that this rate
of advance has been maintained, the
total domestic exports having valu-
alton approximately of s2,200,0OO, 900.
as compared with fraction over
81, ZOO, 100000 the previous year. It
is also significant that manufactured
and partly manufactured articles con-
tinue to be the chief commodities form
ing the volume of our augmented ex-
ports. the demands0f our own people
for consumption requiring that an in