The Olneyville times. (Olneyville [Providence, R.I.]) 1887-1917, 1912-12-06

Hence the United States has been
glad TO encourage and support Amer
lean bankers who were willing to lend
helping hand to the financial re-
habilitation of such coutries because
this financial rehabilitation and the
protection of their custom houses from
being the Qsey 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 is 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 a measure OF
stability and the means OF financial
peace and prosperity. bringing profit
and happiness to themselves and at
the same time creating conditions
sure to lead to fiourishing In
terchange of trade with this country.
wish 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 o. thousands OF hui
man beings-might have been avert
ed had the department OF state,
through approval of the loan conven'
tion by the senate, been permitted TO
carry out it's 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 a 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 eystem in the European coun-
tries. Both as a means to AFFORD RELIEF
to the consumers OF this country
through more thorough develop
ment Of agricultural resources and as
q means OF more sufficiently maintain
ing the agricultural population. the
project to establish credit facilities for
the farmers is a concern OF vital i'm
portance TO this nation. No evidence
Of pros perity among well-esta blished
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-esta blished farmers are main
tanned In increasing prosperity be-
cause OF the natural increase In popu-
leNiOn, we dIt IOl thc
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 II
was evident that the farmers of this
country might profit by a study OF
their systems. therefore ordered,
through the department of state, an
investigation to be made by the diplo-
matte officers in Europe, and | 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 a valu-
alton approximately of $4,000, 100000
as compared with fraction over
1000, 900, 600 the previous year. II
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 demands of our own people
for consumption requiring that an In
creasing proportion OF our abundant
agricultural products be kept at home
In the fiscal year 1911 the exports OF
articles in the various stages of man
ufacture. not including foodstuffs part
" or wholly manufactured. amounted
approximately to s9O7,5OO,00O. In the
fiscal year 1912 the total was nearly
s1.O22, 900. 900. gain OF sl14,000.000
Advantage Of Maximum and Minimum
Tariff Provision.
The importance which our manufac