Forest City press. (Forest City, Potter County, D.T. [S.D.]) 1883-19??, 1915-04-14

railways for the world and especially for
the young countries we have enabled the
world to increase its production OF wealth
at a rate never previously witnessed. and
to produce these things which this ccun-
try is specially 0%esirous of purchasing
Moreover. by assisting other countries to
increased their output of the commodities
which they were specially fitted to pro-
duce our investors have helped those
countries to secure the means of purchas-
ing the goods that Great Britain manu-
features.
Thus. by the Investment OF capital in
other lands, We have frs, provided the
borrowing countries with the credit which
gave them the power to purchase the
goods needed for their development and,
! secondly, enabled them 10 increase their
WI products so largely that they have
been able to pay us the interest and prof
It's upon our capital and also to purchase
greatly increased quantities OF British
goods"
This simple syllabus of commercial phil
osophy is commended to those who fancy
that the foreign markets of the world now
lie at the mercy of the American sales
man. In all probability, Mr.. Paish. when
he wrote his pregnant paragraphs, was
thinking as much of North Dakota as he
was of Brazil. When the English sup
piled the money to build the Great North
ern railroad. they undoubtedly did pro-
Vld a good many thousands of people
with power to make money. The more
money they make the more English tin
and Irish linen and Scotch wool cloth they
will consume and the more freight bills
they Will pay, directly or indirectly, to
English ships upon the sea. 1t is hardly
d bit less true of North Dakota than 1T is
OF Canada, or OF Tasmania, or of Chile.
To make this principle OF and
finance perfectly clear 1t may be well to
use an Illustration. Brazil is as good an
illustration as any. That country is al
most completely financed in Europe.
About half its railroads are totally owned
in Europe. The other half are-or were
until this was written-owned by a COM
pany Incorporated in the United States,
but almost wholly paid for in Europe.
In the II months that ended last June
the people of the United States bought
from Brazil products worth about Sol Co.,
COO. They sold to the people of Brazil
American products worth about 3O,OO0,O 600.
In other words. the proportion was more
than three to one in favor of Brazil. How
did 1t Happen that ships which brought
into American ports goods worth more
than ~$10O.N0,0O went back with cargoes
worth less than one-thirl of it? Or did
they go back at all?
A Triangle Of Trade.
The fact is that many of them did not
go straight back to Brazil. They brought
'Heo tHiS SOuIllIy Iull SIllDlOdOS Oh COlLce,
rubber and hides. At our ports they took
on board full loads of grain and cotton
and sailed away-to England, France, and
Germany. At the ports Of Europe they
discharged their American cargoes and
filled up with manufactures. Machinery,
railroad supplies. c~arthenware, clothing
all the thousand things tina make up
real merchandising commerce-these they
drew from Europe. Then they sailed home
again to South America. to begin a new
triangle.
Ii is am interesting triangle. On our
trade with Brazil in 1914 we owed So COZ, coo.
We did not pay it in cash. We paid 1t
mostly in cotton and grain. We did not
pay it to Brazil at all. We paid. it to Eng
land. France, Germany. and Belgium.
Ihey did not pay II to Brazil in cash.
They paid it in manufactured goods, the
> richest sort of exports that are Known.