The Caldwell tribune. [volume] (Caldwell, Idaho Territory [Idaho]) 1883-1928, 1916-02-11

NGW L Vi n Slty, LEU. - 1|io'
The slogan of America for Ameri
cans" has in these latter days become
applicable not only to the United
States, but to the whole western hemi
sphere; and America" as the term
will hereafter be applied to trade ane
commerce, will include the whole ter
ritory south as well as north OF the
Panama Isthmus. 1t seems rather re-
markable that terrible European
conflict should have been the imme'
date cause of the development OF this
new aspect in our commercial rela-
tionships with the vast republics Of
the South American continent; but
now that the new vision has been pre-
scented to us, Americans are enthusi-
astically counting upon the great op,
portunities for trade conquests that
lie at our very door. Already America
has taken most important position
in international finance, and there arc
many who forsee the shifting of the
from London to New York. However
untrue this assertion may be at the
present time, it is not unlikely that
the prolongation of the European war
for few years more will effect revo-
SlldhSSo III
trade and finance.
There are in the United States a
group of men who have Deen tire1ess
in their energy and almost without
limit in their resourcefulness for the
extension and expansion of the for
eign trade of the United States. They
see in the present golden opportunity
for the Strengthening of the ties that
bind some of the worlds markets to
the American source of supply. and
for the introduction of our comm obi
ties into other markets which as yet
have never had business relations
with American manufacturers. These
men have been in conference on more
than one occasion; have given to
American business some valuable sug-
gestions regarding individual expan-
sions in foreign markets; and most inn
portant of all, have contributed heavI-
ly of their time and resources in the
actual extension of this great propa-
ganda.
These efforts were crystallized in
the third Foreign Trade Convention
which met at New Orleans last week,
and which brought together the lead
ers of American finance, commerce,
industry and economics for the pur-
pose of discussing the new and i'm
portant problems of foreign trade. and
of suggesting ways and means for
properly and effectively promoting it.
One of the most important deduc-
tons of this trade convention was the
necessity shown for the investment of
American capital in the activities OF
the countries in which we hope to
build up profitable trade relationships.
The axiom that trade follows the
flag" has given way to the more mod
ern and more accurate conception that
trade follows the dollar" and to the
correct application of this principle
may be attributed the enormous
growth of the foreign trade of Great
Britain, France and Germany during
the last two decades. James A. Far
rell, president of the United States
Steel Corporation, in speaking of this
matter at the convention. reminds us
that the war has taught our people
many lessons on this particular SUBJ
ject. and has shown us how strongly
entrenched are our European competi-
tors in the markets which some of
us thought lay open for our occupancy.
When the curtailment of the European
investment in the South American re-
publics brought their development to
a standstill and reduced their purchas>
ing power, we had an object lesson In
the conditions precedent to the devel
opment of foreign trade. There was
brought home to us the fact that the
British investments alone in Latin
America had reached an aggregate of
about $4,000,00O000, which was sent
there in the form of goods of British
manufacture. The yearly installments
which went to the making of that total
swelled the annual sum of British ex-
ports, as did also the proportion of the
the borrowers. At the outbreak of the
war it was intimated that Great Brit
ain stood as the creditor of foreign
100000 OF this. $o,2400O0,000 was in
and possessions, and $3,l60.00000O in
600 for the rest of the world.
Great Britain is not the only coun-
try which has huge investment in
South America. Germany, France,
Belgium and Holland all have large
sums placed there in various forms OF
investment, whereas until recently the
United States has had but a trifling
sum so invested The importance OF
investment trade may be shown in our
relations with Canada Mr.. Farrell
points out that since 1897 there has
been invested in Canada $700,00O,00O
of American capital. 1t has gone into
the equipment of branch plants for
American manufacturers. into mining,