Belington progressive. [volume] (Belington, W. Va.) 1912-1927, 1920-11-18


Washington, Nov. 16-(Spe-
cial correspondence one
result of the war, America has
an abundance of capital for in
vestmen-for investmen not on
ly, at home but abroad" declared
a Pacific Coas business man in
Washington, recently. "A trade
balance of some $15,000,000,000
means an accumulation of money
and credit which will seek prof
liable employment in other coun-
Tries if opportunities promise
better return than at home. Our
foreign credits represent in
reality a sort of foreign invest
ment, for Americans will draw
interest upon the amount due
and unpaid.
prior to the war there were
immense European investments
in the United States, the foreign
capitalists owning stocks and
bonds of American enterprises
or mortgages on American prop
erty, Upon those investments
the business of the United
Staets paid dividends and inter-
est to an amount unknown but
parious estimated at from $780,
100000 to $500,000,000 yearly.
Hereafter and for many years,
the interest payment viii come
in instead of going out.
"F'rom a commercial stand
point, there ar many reasons
w by American investment
abroad should be encouraged, so
long as the enterprise does not
conflict with American interest.
There is not much to be gained
BY investing American money in
a Chinese enterprise, for in
stance, if the Chinese product is
to be sold in the I'm led States
with destructive effect upon an
American industry. But after
making due provision against
unfair competition with Ameri-
can capital invested in America,
there should be every encourage
ment for American capital to in
vest abroad. Such investments
not only bring in dividends and
interest, but aid in forming new
commercial relations helpful to
all American trade and industry.
Meatpacling plants operated by
Americans in Argentine will in
many years help to create a de-
mand for American produtcs of
various kinds.
Naturally, in studying OPP
portunities for foreign invest
ment, the mind of an American
turns first to countries close at
hand, and the country now least
developed and in closest proxi-
nifty is Mexico. During the Diaz
regime, open to criticism, as it
may have been in some respects,
there was a stable government
and reasonably dependable as
surance of the safety of proper
ty rights. American investment
of capital in the development of
Mexican resources was quite ex-
tensive. But since that time
Mexican government has been
so uncertain and property rights
so unsafe that no new American
investments of consequence have
been made South OF the Rio
Grande. With the return of sta
bility, indicat by the peaceful
election of Obregon and the ces-
sation of open vanditry, there
should be largely increased par
ticipation of American enter
prise in Mexican industry.
Whether President-Elect Hard
ing meets President-Elect Obre-
gon on the border or not, there
is every reason to hope and ex-
pect that W hen the two have as
sumed their respective positions
in national agairs, amicable re-
lations may be fully restored.
"The United States can be
helpful to Mexico; Mexico can be
helpful to the United States, and
there is no reason why the peo-
pies of the two nations should
not deal with each other in
friendly manner and with full
mutual confidence"
Watch EN-.
With the exception of Tennes-
see and Oklahoma the South vot-
ed solidly for the Democratic
ticket as usual. Now are we to
assume that when revision of
the tariff takes place the South
will resist. any effort to put
Southern products on the list of
protected commodities