The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1924-04-23
ARTICLE II.
Mexico.

Under the giuse or protecting the
weaker nations Of South and Central
America the United States has as
slimed the undisputed hegemony over
sthis territory. The Pan-American I'm
ion growing out Of the Monroe Doc
trine is completely dominated by
American imperialists.
American bankers are the dominant
figures in the International Commit
Z tee Of bankers in Mexico. Thomas
W. Lamont Of j. P. Morgan & Co. is
chairman of this committee Morti-
mer L. Schiff is the vice-president Of
the American sections. Charles E..
y Mitchell of the National City Bank,
John ]. Mitchell Of the Illinois Mer-
chants Trust Co., Charles H. Sabin Of
the Guaranty Truss CO., Albert H.
4 Wiggin of the Chase National Bank
and Robert Winsor Of Kidder-Pea-
body & Co., Boston, are among the
other leading figures in this group
of international exploiters. Foreign
investments in Mexico indicate that
:. American capitalists lead in oil and
mining. United States investors have
q twice as much capital $3.50 ,000, 000)
invested in oil and five times as much
capital invested in mining (S25O ,O00,-
& OOO) as does Great Britain. Over
$15O,O00,000 of American capital is in
{ vested in railroads and more than
Sl20,000,000 in agriculture. American
capitalists hold more than $25,000, 900
OF the Mexican national debt bond is
sue. Wall Street is planning to spend
upward of $15O,OOO,OOO in new oil in
vestments. There is a tendency for
heavy flow of American capital
southwark New York and Philadel-
phia bankers have announced the
floating Of new loan Of $40 200, 900
to the Mexican government.
In South America.
The nitrate beds of Chile; the oil,
meat and wheat of Peru; the coffee
and rubber plantations of Brazil; and
the packing industry of the Argentine
Republic; are steadily falling
into American control. Speak
ing before the Investment Bank
2 ers' Association, on October 20,
. 1928, DR.. L. S. Rowe, Director
General of the Pan American Union
: boasted that American investments
lin Latin America has passed from
the period Of adventure to the period
gof helpful, productive and permanent
investment. American companies are
securing to an increasing extent con-
tracts for the construction of public
works in Latin America. Port works,
drainage works, water works and
street railway systems constructed by
american companies are now in evil
dence in almost every country of
South and Central America. Since the
sclose Of the Great War the American
people have loaned to Latin America
in public loans, disregarding the loans
of all private enterprises over a half
billion dollars. The precise amount
lis 1929, 100000" Since 1921 American
investors have purchased Chilean ex-
ternal bonds to the extent of S62,0OO,-
900 and internal bonds totaling S.
100000. American investments in
Chilean iron and copper mines have
materially increased. Our Latin
American trade has risen from $1.O73.-
100000 for the ten months ending
November /, 1922 to $1,440, 900 900 for
the corresponding period of 1928.
II Our total Latin American trade
amounted to only s750,OOO,O 900 in the
year proceeding the war. The most
notable growth is in exports, which
alone will probably total close to
$500, 100000 as against $20S,O 900 in
1924. The Latin American countries
now take As per cent Of their imports
from the United States as against less
than rs per cent in the year before
the war. The official custom house
returns of the 20 countries forming
the Latin American group show 1884,
100000 in merchandise imported from
the United States in 1921 as against
S$319,000,000 before the war. This is
an increase of over $50 per cent.
10 illustrate, Americas share of
Mexican imports in 1913 was As per
cent; in 1921 it was rs per cent. Its
share of Cuban imports in 1913 was
bS per cent; in 1921 1t was rs per
cent. Our share Of Argentine's i'm
ports in 1913 was only Is per cent; in
1921 it rose to 2s per cent. Our share
of Brazil's imports rose from 16 per
cent in 1913 to 81 per cent in 1921. In
1913 Uruguay's imports were only IL
per cent from the United States. in
1921 1t reached the figure of rs per
cent. The outstanding feature OF this
tremendous increase in trade in both
exports and imports is that manufac-
tured articles constitute approximate
ly so per cent of the total purchased
from the United States by South
America.
The Sweep Of Dominion.
Several months ago there was form