The citizen-Republican. (Scotland, Bon Homme County, S.D.) 1???-19??, 1915-04-15

| 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 those things which this coun-
try Is specially DESTROYS OF purchasing.
Moreover, by assisting other countries to
increased their output Of the commodities
which they were specially fitted 70 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 first provided the
borrowing countries with the credit which
gave them the power to purchase the
goods needed for their development and.
secondly, enabled them to increase their
own products so largely that they have
been able to pay us the interest and prof
Its 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
ne wrote his pregnan 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-
'~S OWN id1i VA PSSPaS
with power to make money. The moro
money they make the more English tin
and Irish linen and Scotch wool cloth they
VIII consume and the more freight bills
they will pay, directly or indirectly, to
English ships upon the sea. 1t Is hardly
a bit less true of North Dakota than 1t Is
of Canada, or Of Tasmania, or of Chile.
10 make this principle Of commerce and
1nance perfectly clear 1t may be well to
use an Illustration. Brazil is as good an
Illustration as any. That country is al
most completely finance 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 s101, oo0.-
COZ. They sold to the people of Brazil
American products worth about $780, 600, 900.
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 moro
than SlOO,OVo,W0 went back with cargoes
worth less than one-third of it? Or did
they go back at all7
A Triangle of Trade.
The fact Is that many of them did not
go straight back to Brazil. They brought
into this country full shiploads of coffee.
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. earthenware, clothing
all the thousand things that make up
real merchandising commerce-these they
drew from Europe. Then they sailed homo
again to South America, to begin a new
triangle.
1t Is an interesting triangle. On our
trade with Brazil in 1914 we owed SO, Ooo, 900.
We did not pay 1t in cash. We paid it
mostly In cotton and grain. We did not
pay 1t to Brazil at all. We paid it to Eng
land. France, Germany, and Belgium.
They did not pay 1t to Brazil in cash
They paid it in manufactured goods, tho
! richest sort of exports that are known.