The Washington herald., 1913-01-26
NEW ORLEANS COTTON EXCHANGE
GET READY FOR THE PANAMA CANAL

nations lying south of the United States
$2.6 .o000oH. and this in turn represents
| an increase Of nearly 100000 in the last
ten years. Surely countries which can
show a record OF this kind are worth the
closest study OF manufacturers and ex-
porters and importers Of our Southern
States, which are in close proximity To
Latin America. The United States
bought and sold with these countries
last year products valued in excess of
S'm.e"."1 While this is not as great
as ii ought to be. il is the most encour-
aging total because it represents an in
crease OF nearly loo per cent during the
last ten years. and points out the possi-
hilitfes OF the future. II we do now a
trade Of S7Oo000ONo with Latin America.
including. Of course. both exports and
imports. We should soon double this
through the advantage of knowing Latin
America better and having the Panama
Canal completed. giving us direct access
To the western coast OF Central and
South America.
Let me emphasize a few facts about
what the Panama Canal means to the
South in order that your readers may
appreciate the significance OF this open
ing. The day that ships steam from
New Orleans. Galveston. Mobile. Tampa.
Key West. Jacksonville. Savannah. Char
lesion. Norfolk. and other Southern ports
through the Panama Canal. they will
give those cities and the whole South
direct access for the first time in history
to 5000 miles of remarkable and re-
sourceful coast line reaching from the
Mexican California line southeast TO the
Straits of Magellan. This coast hereto
fore could only be reached by ships from
these ports plowing the seas anywhere
from 5000 to 5000 miles around South
America.
Directly northwest from the Panama
Canal are 5000 miles of coast line upon
which debouCh the western shore of Mex
leo, Guatemala. Salvador. Honduras. Mic
aragua. Costa Rica. and Panama. South
from Panama to Punta Arenas. the prin-
cipl town on the Straits of Magellan, is
coast line of nearly 5.Oe0 miles, upon
which debouch Colombia. Ecuador. Peru.
Bolivia, and Chile. In other words
twelve Latin-American countries either
entirely or in part are tributary to the
Pacific Ocean and to the commerce
which will be reached directly through
the Panama Canal.
II is true that the foreign trade of these
countries and their buying and selling
capacity is not yet so large as to have
attracted much attention. or to seem as
inviting as the trade OF the East or At
lantic coast of South America, or of
many other foreign countries. but it has
a promise of large development in the
future.
This western coast line of 5000 miles.
conducted last year without the Panama
Canal and in its isolated position, a for
eign trade valued at 800. .Ooo00 This,
moreover, represents an increase of
nearly 100 per cent in the last decade.
II the Pacific shore, then. of Latin
America can do an annual foreign busi-
ness of S40o.Ooo.OO0 without the canal IL
should in ten years after the canal is
completed do business Of sSc0OO0. 600 or
even 81. .201. 100000. Whereas, moreover in
the past this export and import trade of
Western Latin America has largely been
In the hands OF Europeans because of
their ability to reach that coast with
their ships cheaper than could the bust
ness interests OF the Southern and East
ern portions Of the United States. now
a new situation will arise to the distinct
advantage OF the Southern and Eastern
sections of the United States. Having
a great advantage in the distance to be
steamed and in accessibility of these
Latin-American countries. they should
commence to get a much larger share OF