Evening star., 1927-05-04

mentalities Of trade. AS law and or
der and security are absolutely neces-
sary for industrial and commercial
life, international exchange of large
dimensions becomes one Of the strong
est guarantees OF peace.
"The last half of the century has
seen a very material reallocation of
the commerce of the Western Heini-
phere. In it's beginning we were all
largely dependent on Europe for a
market for our raw materials and for
considerable supply of manufac-
tured articles. This condition is very
much changed. The United States has
become the chief market for the raw
materials Of the southern republics,
while on their part they have turned
to us for a supply of manufactured
commodities. Since our sister re-
publics became independent this
trade has greatly increased. In 1880,
nearly hundred years ago, the value
of both exports and imports amounted
to about $25,000,000; so years later it
had reached more than $500, ,000,0 600,
only a little less than 10 times as
much, and during the last 10 years it
has averaged not far under $4,000
600 900, again increasing almost ten
fold in so years. In the hundred
y
has been nearly hundredfold.
Balance of Trade.
'In this exchange of commodities
this country has, as is known, pur.
chased far more from them than
they have purchased from us, or, in
other words, the visible balance of
trade has been in their favor. Dur
ing the last five years our purchases
have amounted to a total of S5,06S,-
O00,00 and our sales to $3,7S1, ,0O0,0 900,
showing a difference of $1,3S7,Oo0.0 600,
or an excess Of about "a per cent.
For the century the excess would be
greater, probably by more than 40 per
cent.
Not only has this country pur-
chased more than it has sold, but it
has long. been the chief foreign pur-
chaser of their products. During
the IL years ending with 1875, the
only years for which complete Statis-
tics are available, this country's share
of their exports has averaged nearly
40 per cent. This is more than zoo
per cent Of the portion taken by
Great Britain, the nearest competitor,
and nearly 80 per cent above that
taken by Great Britain, France ana
Germany combined, the three next
most important purchasers.
"In the import trade of the south
ern republics the United States has
also, though more recently, come to
occupy the leading position. In 1900
the imports of all these countries. col
lectively considered, from Great
Britain We're about equal to their
imports from the United States and
Germany combined, which last two
countries were on about an even
footing. From 1900 to 1910 the
United States gained rapidly, and
since 1918 has remained in the lead
in the collective imports of all Latin
America. In the countries north OF
Panama the commercial importance
of the United States has, because OF
greater proximity and greater diver
sity Of products, been much greater
than in those to the south.
Even prior to 1890 imports into
Mexico, Cuba and Central America
were almost uniformly greater from
the United States than from any other
country. Up to the year 1913 South
America still imported more from
Great Britain and more from Ger
many than from the United States.
Since that time the United States
has reached and maintained the first
position in the import trade of South
America just as it has maintained the
lead in the import trade of all Amer
lean republics.
Vast Sums Involved.
'While America is not the chief
market for breadstuffs and animal
products Of these countries, 1t is and
must be the chief market for indus
trial raw material, tropical and semi
tropical foods, copper. hides. wool,
oil. cane sugar and coffee. This
trade must come to our market just
as certainly as the trade Of Texas,
Continued on Sixth Page.)