The Seattle star. [volume] (Seattle, Wash.) 1899-1947, 1922-03-01

where there are many families ~
desperate that they would riadi,
lsav. their old homes never 10 re-
turn.
ON yet another matter mus
disagree with Amateur Economist
Capitalists In Seattle. or elsewhere
are not locking for men 10 handle
spanish American projects. Thes
are not IN any way interested n
that Part OF the world. no, ever
enough 90 be affiliated with the Pan
American Society OF the United
States. aa arc hundreds % Eastern
finaneleru- oniy en-. Seattle banker
In listed an 1891 us.nshcr. Bank.
err ar, unsd when IL comes 20 ;he
Investment Of money which they
hold for depositnrr. and ! hope my
bankers continue to b nomswha,
tmsd. However. ~ stated In my
previous letters. there are many
available opportunities fer the pro.
dncuvs and prositabi. us~ Of loan.
abb. funds in Spanish and portu
guese American republics. so located
that their development would talze
the standard Of living. Increase
population and the per capita wealth
and create the new markets "a
vitality needed for Industrial rrusi
uctE. This was the idea tina,
prompted IN. letter which the editor
was kind enough 10 print In The
star Of January ~ last.
Thia IDEA ~ Fundamental. anf 4
economically az well as financially
sound. Tho nano remarks. or SINH
lar ones. apply 10 Russia. China.
Africa. Australia. and any other
new places In which there are
uneevsioped natural resources. a
low standard 81 education and iiv
tng. and a scarcity Of population,
somewhat In proportion "a these
conditions are found to exist in
each Of these localities. Even our
oxn Western and Southern states
can be considered. from this angie
as field for the creation OF new
markets by the provision of new
facilities for more population. with
the important difference that these
home Investments DO not assist in
Improving foreign exchange condi.
tons nor In relieving congestion
and poverty In Europe. nor do they
help our merchant marine nor war
debt problems toward solution. For.
elxn investments made under proper
safeguards and. above all. on In.
formation obtained nj first hand
win do all these things in large
measure.
America has suidcnfy changed
from n debtor TO creditor nation
n position which we long considered
enviabls while IL was held by Eng.
land. The new status involves new
problems and new and difficult re.
sponaibilities. which we must under.
take--indeed. have already under,
taken. altho with some shock and
delays on the financial eide. and
vast confusion and Bhoutings on the
political side. with all respect for
England and the English, whose
achievements no traveller can hon.
estly belittle. can not agree with
Amateur Economist that none but
the English can function I'm the role
OF creditor To the world, nor that
men will be lacking TO meet the re
may adopt some new Ito Europel
ideas In allowing political freedom
10 weak. foreign countries, even tho
they do have valuable mines. for
ests. oil fields. or agricultural lands
We may not find IT necessary TO 20
tect our daily bread. We may. and
doubtless will, handle the job some
what differently than England has
done, but be assured that America
can handle the jobl
At tho same time. many n lessor
may be learned from the English
and we need not start where theS
did centuries ago. We can under
write our own Insurance., and som,
of the other insurance that pays re
turns on capital. We can have 4
merchant marine when we get ready
TO restore the tariffs of clipper shit
days. making duties lower when i'm
ports oome In American ships. w
can have new markets when we in
vest capital in them and prove thai
We really want them and intend q
keep them. We can import, manu-
facturs and re.export tas well az
use) products from raw materials
which other countries produce and
which we do not produce. IN TIL.
last v . special opportunity foi