Evening star., 1914-08-16

trail reserve districts). as we'll as Pitts
burgh, Cleveland, Omaha. Louisville,
Atlanta. Washington and Detroit report
slow but steady adjustment Of new
conditions. and. but for the slight IN
crease In borrowing rates, have exhibited
no special evidence of str1ngency OF up
heaval. Accommodation is always forth
coming when the needs are legitimate
and the security ample. and, on the
whole. interior cities have. to a large
extent, felt themselves immune from
many OF the Ills that befall their neigh
bors in the larger centers;
The outbreak of hostilittes In Eu-
rope has shown how completely Is
America at the mercy Of foreign ship
ping facilities for the conveying OF our
products to European markets. We
are now brought face to race with @ ene
sorry spectacle of almost complete con-
gestion of our seaports with goods in
tended for foreign export. but lacking
the ships to convey them thither.
Merchant Marine Is Needed.
The admission of foreign-built ships
to American, registry may relieve the
situation to a limited extent, but the
real solution of the problem. not for
the present only, but for the future as
well, is the rehabilitation of our mer-
chant marine on such a scale as to re-
store our prestige in the maritime
world. Thus will we be assured OF an
increase in foreign trade when other
nations are at swords points. instead
of the pitiable curtailment which now
exists There is now an enormous de-
mand for our foodstuffs and simple
articles of wearing apparel in the bel
ligerent countries of Europe. and at
prices that would add greatly to the
incomes of our farmers and manufac-
turers but we must wait until some
nation demonstrates its right to the
title of mistress of the sea before we
can, with safety, intrust our merchan-
disc to the tender mercies Of foreign
shippers.
Perhaps in no direction has the index
finger of trade pointed with such pre-
cision during the past few weeks and
months as to the South American con-
tinent. The annual imports Of eight
countries of South America Is one bill
lion dollars per year. more than half
of which is supplied by European ma
tions. 1t is pointed out In authorita-
tive sources that British exports to
South America in 1912. the latest year
for which details are are ooa available. val
cluding both domestic products and
foreign and colonial merchandise re-
exported. Germany's exports to all
South America in 1911, the latest year
for which details tails are s1so.oao ayailaDie; all n
value; those of France between $70,-
100000 and $80,0O0,O00: Belgium, be-
tween $40.0O0.000 and $50.000.000. and
Austria approximately $10,000.000 the
figures being necessarily in round
terms. This makes for the five coun-
tries now actively at war total exports
to South America of over 100000. 900,
or fully one-half of the total imports
of that grand division.
Duty Toward South America.
This is what the director general Of
the Pan-American Union, In sending an
appeal to Americas business and bank
ing and shipping leaders for quick.
aggressive action. says of the situa-
ton:
THE United States has grave duty
and responsibility as well as great
opportunity in its relation to South
America. Figures just compiled show
that the ten countries of South Amer
lea proper last year bought and sold
products valued at $2,130,000,000. Eu-
ropes share Of this trade was $780,
O0O, 900. The major portion of this
trade is now temporarily cut on. plac-
ing the principal ports Of South Ameri-
lutte blockade. Moreover, as nearly all
of this commerce is carried In German
and British bottoms, now suddenly
from the seas. 1t can be re-
allied how acute the situation is and
how something must be done without
delay to relieve it. Quick and compre-
hensive action by the commercial and
financial interests OF the United States
will earn the lasting gratitude of South
America and place them in a position
of great permanent advantage with
every South American country con-
cerned.''
This is to say that our duty toward
South America is moral. as well as
economic, and in the last analysis Is
profitable to American shippers. There
is an opportunity for our merchants to
follow the steps already taken by our
bankers in opening up more direct
with the great southern
republics, and thus usher in a new era
in American trade and finance.