New-York tribune., 1921-08-12
To the Editor of The Tribune.


Sir: The interesting letter capticned
"lnv;sihle Exports" IN to-day's Tribune
contains food fer thought on matter
that is little understood BY the general
public.
The suggestion that "a corroration
Of capitalists be formed to study The
great investment opportunities to tne
south Of US" seems to me a reflection
on the vision, courage ana pioneer
spirit of our business men, who within
the last decade have done so much TO
assist our foreign trade. The fault
lies, l think, with our public men and
the Indifference or ignorance of our
general public as to a needed policy
for protection Of life and property in
terests of Americans abroad.
Within the last ten years our larger
banks and trust companies have with
&C ommendable foresight established
branches in many more or less known
outposts in Central and South America,
and thereby made possible financial as
sistance to our exporters, besides en-
abling capital readily to obtain reliable
information of the fact that great op-
rortunities exist there for profitable
investment of American capital.
Yet American capital is very diff
cult to obtain for exploitation, though
ether countries, notably England, read
lily obtain it for the good of England
This lack of support here has it's
natural consequence in depressions
which could be relieved, for we have
the natural resources and ability and
are less dependent on outside factors.
For America to enjoy a favorable
trade balance, such as England may
have, through "invisible exports" it
will be necessary that prejudices that
now obtain in the minds of Americans
be changed to fixed policy as to pro-
lection of foreign investment through
a clear understanding of benefits as
we'll as obligations.
Since it is the small investor, the
mass, who in the final analysis supplies
the sinews through which the capi-
talists operate and build up enterprises
and our public thought has as vet
failed to realize the vital Importance
our present world wide financial su-
premacy has brought on us and the
need for its maintenance, if worth
holding, may | presume to explain why
in my opinion there still exist such d.
vergent views on the subject of foreipn
investments and need for their protec-
ton?
One part Of our public believes that
investment to the south of us, or rather
IN backward countries, is exploitation
IN its meaner sense and hence should
he checked or left to shift for itself
if in difficulty through political dis
turbances or otherwise. This position
was, in fact, much in favor during cur
last Administration. based on political
opportunists ignorance of soun1
economies, assisted by the mawlSish
paciiist tendencies of the times.
As clear example of this fallacv the
abandonment of capital invested in
Mexico stnnds forth supreme and
plaques us now as vivid and dreadful
warning to our investment public.
Here was over one billion dollars.
the savings OF thousands of people of
very small means, either frozen or en-
tirely lost simply through lack of pub
lie support and the Indifference of our
public men. How can an in
vestor with possible opportunities in
other lands have confidence again to
risk his money, when he sees rob-
berry and confiscation of his capital by
country so ignorant and backward
that 1t Is not aware of its suicide?