Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1915-05-31
THE PAN-AMTnICtN CONFER
ENCE.

The pan American flnahciAl con
grcss. which ended its session In Wash.
ington city Saturday evening. was one
Of the most important events OF re-
cent years ana must have great 10.
nucnce on the business relations be-
tween this country and the Latin
peoples 70 the south Of as
Logically, the major part of the
trade of Central and South America
should be with the United States.
Actually, until the European war be-
gan. the commerce Of the Latin
American nations south Of Mexico had
been nearly entirely In the hands Of
Europeans American goods for South
America usually went first to EURO
pean ports, as did South American
goods for tho United states, and aet-
tlcment was made through exchange
on London.
For this condition were the fol-
lowing reasons
!. Fear on the part OF the Latin
peoples OF designs by the United
states against their independence.
This WIS largely due to miseoneep-
lions Of the purpose OF the Monroe
doctrine and was ahated somewhat by
the visit of Secretary Root 10 those
countries aud later by the work Of
the commission headed by Felix Mar
tlnez, and practically disappeared
when the representatives Of Argen-
tina. nruzil and chile undertook TO
compose the difficulties between the
United states and Mexico. During the
negotiations at Niagara Fails It be-
came apparent 10 the diplomats OF
the A. D. c. powers that this country
wanted nothing IN Mexico but peace
and honest government. If she want
ed nothing from her next door neigh
Dor. why should Interior designs
against more remote nations be sus-
pected?
2. Central and South America
have heretofore depended upon Euro
pean countries for financial develop
ment This was new and debtor
country. while Great Britain, France
and Germany had abundance Of cheap
money ready for investment at fayor-
able rates Those countries establish
ed great banking houses, built rail-
roads ana furnished the money for
the largest mercantile establishments
the sugar factories, tho coffee plan
tations, the cattle ranches and for the
development of the mining Industries
II one Of The Latin nations wanted
60 borrow money Il marketed It's
bonds in Europe, The same was true
OF the cities.
g. American manufacturers neg
lccted to make and pacl, their goods
In the manner desired by the Latin
trade, ana credits were for not more
Than three months, while British,
German and Frcuch exporters grant
cd from four to sis months The lat
ter policy was OF vital importance to
the Central and south American
merchants because they have found
II necessary to sell their goods on
longer time 20 their retail trade than
Is customary IN the United states,
g. Direct transportation between
the United states and the South
American countries has been most
difficult aiwaye and since the begin
ming Of the European war has been
almost impossible. That problem Is
quite as vital as the necessity for sup
plying money and extending credits.
II direct transportation could be had,
II Ii believed that the matter OF iinan-
ces and credits would take care OF
itself.
Also the most important problem
considered hy the conference was that
OF transportation. and when the
meeting was dissolved it was no near
er solution than when the discussions
commenced the first Of last week
As Il now stands there appear only
three ways open by which the situa-
ton may be met
/. Direct subsidy believed inn
possible under this administration
because Il is opposed 10 subsidies in
any form.
2. Through private enterprise.
This aisn Is believed out Of the cues
dion. because no one with money IS