The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1914-07-14
UNCLE SAM in BOLIVIA
How the Panama Canal Will Open the Country to
United States Trade.

some experience In the United States
IN q diplomatic capacity, and also as
TO the importation and expectation of
goods from his country to the United
states n Europe. a he:
There should be a great increase
in the business done between the
United States and Bolivia. AS il Is
now, the most of the trade goes on
through Grace & Co, but there is
plenty Of room for others. We have
to fight the English, the French and
the Germans, and the only way to do
business is to go after it and get it.
You cannot sell goods here by letter,
You need good men on the ground.
and establishments that will come to
stay. AS it is, much of the business is
in the hands of the Germans, and they
are SO pushing their trade tina they
supply nearly o~ne-third Of all the
goods imported into Bolivia
What kind tf goods do we sell in
this country?"
w sell 80 per CEN of all the flour
that comes in," replied Mr.. Zalles,
land SO per cent of all the lumber.
Flour comes from the Pacific coast,
and nearly all the lumber consumed
is Oregon pine. We are also selling
a great deal of mining machinery and
OF galvanized steel sheets for roof
ing. American shoes are worn by the
middle and upper classes, and they
are the best shoes in the market. We
are also selling cotton sheeting.
American typewriters and American
hardware. In all of these branches the
trade might be greatly Increased, but
only by having men on the ground
who can drum up the business"
But how about credits in Bolivia =?
Do the merchants pay for wha they
order?"
Yes. They are as honest as we
are, and there is no more trouble in
making collections. The national
credit is also good, and it has greatly
improved since the contract was made
through w. r. Grace & Co. with
Speyers and the National City Bank
for the building of new railroads.
Before that time it was almost i'm
possible for us to get money from
Europe. [ remember that I went to
London about ten years ago to borrow
q million dollars to build the railroad
from Lake Titicaca to La Paz. 1 could
not get any one to listen tt me. After
the loan was made by the Speyers the
financial powers of Europe began tc
wake up. They decided hat if the
credit of Bolivia was goo- enough fol-
the Americans it ought to be good
enough for them, and since then W.
have had no trouble in borrowing
There is today a great deal of Eng
fish, French and German none in.
vested in Bolivia, and we can get 9
loan at any time for any reasonable
amount. Our public debt is not large
considering u population and ou1
resources"
What kind of interest rates doe.
money bring hereT"
"The rates are much higher thar IL
the United States. Ordinarily loan.
yield 10 per cent, and for specia
loans II per cent and more are re
ceived. Our money rises and falls, &C
cording to the demand and supply. jus
as it does everywhere. At presen
money is scarce and high all over tn
world. The government is making
some changes in it's financial arrange
ments. 1t has recently given on
bank the exclusive right to issu'
notes, and the rate of interest ha
been raised. We nave a number o
banks in the country and the most o
them are prosperous"
How about the opportunities TO
the investment of American capital?
"They are good" replied MI. Zalles
Bolivia is at the beginning Of it's de
~velopment, and it has asst r%esourc
in lands, mines and petroleum. TIL
most valuable part of our country lie
1 CdSJ VI ll1C lIoS III bIloC 1OSlO "
have an area bigger than Texas, con
sisting Of high plains hat will rails
wheat, corn ard cattle. Those lane
| are between the River PilcamayO an
the Paraguay, and they extend north
| ward into the plateau Of Matte Crosse
The climate is fine and we'll suited t
white men. That region will som
day have a. large population. AS t
mines, Bolivia hat produced quaint
ties Of silver, copper and tin, but it
still on the edge of its mineral de
velopment. w have petroleum fielC
t that promise to re%volutionize the flu
3 problem in South America. Thes
t are east Of the Andes. They are sal
: to be very rich"
n But is capital SO invested safe?"
asked.
S Eyes, just as safe as in Europe
the United States. You people shou
S realize that conditions in the gre;
S countries Of South America are II
~ hnCa COM