Evening star., 1928-12-02
Continued From Third PageD

paper of probably 200 pages to Congress
and the debate on 1t would have been
going on yet; but took the Canal Zone
and let Congress debate, and while the
debate goes on the canal does also"
Colombia protested this triumph OF
diplomacy" as IAN act of war at time
when the two nations were at peace
and a fragrant violation of the public
In the treaty signed in 1896"
Nineteen years after we had acquired
the strip of land for the canal we paid
Colombia an indemnity of $25,000. 600
but we did not offer the apology which
she had demanded. Meanwhile we had
refused to arbitrate the controversy at
The Hague.
Warns Against Colonization.
IN 1912 we virtually gave warning
that we would permit no colonization
or requirement of land by Japan at
Magdalena Bay, in Mexico. Yet we
have not always protested or interfered
when European nations have blockaded
or bombarded Latin American ports or
territory, and even landed troops.
What, then, is Or true relationship
g the other republics of the Western
Hemisphere? is our purpose one of
protection of Sneir indeper dence or of
mere protection of Ameri an CONNER
cial domination from EU :opean inter-
ference?
Our definite relationsh q to the prob
lens and difficulties of lie other Amer
lean republics began De cember 2, 1923,
when President Monro sent the mes
sage to Congress whic has since been
designated "the Monrc Doctrine" The
so-called holy alliance of Central Eu-
ropean nations had given evidence of
its intention to regain for Spain the
South American colonies which had
revolted and established independent
governments Russia independently
threatened to extend its sovereignty
south along the western coast of North
America.
Monroe Doctrine.
And so Monroe, with the tacit support
and approval of the English foreign
minister, Canning, declared the oppoSi-
ton of the United States to 'any in
terpoSition for the purpose of oppreSS-
ing" the Latin American republics 'or
controlling in any other manner their
destiny by any European power"
In addition, Monroe declared:
"The American continents, by the free
and independent condition which they
have assumed and maintain, are hence
forth not to be considered as subjects
for future colonization by any Euro
pean powers"
Furthermore, the message stated, it
would be dangerous and hostile to the
United States should ''the allied pow
erS extend their political system to any
portion of either continent"
For more than 100 years that doctrine
and principle have been upheld by the
United States and generally respected
by the nations of the Old World Yet,
while they have protected both our
own country and the smaller republics
of America from possible encroachmentS
by the monarchieS of Europe, they have
imposed a heavy obligation on the
United States.
We have said to the powers across the
Atlantic, You cannot, must not, invade,
attack or conquer any of the nations to
the south Of us. regardless of grievance
or Justification"
But, certainly, having said that, we
cannot avoid an obligation to protect
the legitimate rights of European ma
tons and citizens in Latin America.
We cannot say to England or to
France, Stand back!" when their citi-
zenS in a South American country are
being ruthlessly killed or pillaged, un-
less we are willing to assume the re-
sponsibility of restoring and maintain
ing order, or insuring justice.
Exercise of Police Power.
And so, for the protection of our own
interests, for the protection of the in
dependent sovereignty of the Latin
American republics and for the protec-
ton of the legitimate interests of Old
World nations, we have for many years
exercised what might be called police
power"
do not know of any policeman who
has ever won a popularity contest"
Certainly the United States has gained
neither gratitude nor fortune by its in
terventions in Latin American imbro-
glioS. The one thing that it has ac-
complished is the maintenance of at
least the Semblance of government by
the people" throughout 20 nations to
the south of us. That achievement is
worth the cost and the effort-if we
really believe in our own form of gov
eminent.
Since the World War we have be-
come the banker, the source of credit,
not only for European nations, but for
those of Latin America as well. And
neither has any banker, to my knowl-
edge, ever won popularity contest.
The man who loans money, at interest,
p and demands payment at the due date,
whether the loan has proved. profitable
to the borrower or not, is more often
the subject of harsh remarks than kind
words.
Prior to the war the industrial de-
Velopment of Latin America was very
largely financed in the money markets
Of Europe. If several million dollars
were needed for the building of a rail-
road in Peru, the construction of an
electric generating plant in Brazil, or
a large-scale mining development in
Chile, funds were secured in London,
Paris or Berlin.
The war changed that situation. Lon
don, Paris and Berlin now are borrow
ing money in New York for the re-
construction and development of
European and Asiatic industries. If a
Central or South American municipality
or industry needs money the best mar
ket IN which to go shopping is New
York.
Latin American Loans.
Already our loans and investments in
Latin America approximate SIS 1000, ,000,-
600. Between $3.50, 100000 and $685.
100000 are invested in Argentina. Bo-
livia. which most Americans would have
difficulty in locating on a map of the
world, has borrowed from America be-
tween S80,000,000 and 100000, 900.
The great sugar industry of Cuba, as
well as its electric light. plants, other
public utilities and industries are H.
nanced by American capital to the ex-
tent of from $3.50. 100000 to $780,
100000. In Mexico our loans and in
vestments exceed $1.000,000,000. In
Chile $500000,00 are helping to de-
velop industries and bring prosperity to
the people of that nation.
We have. therefore, something more
than purely idealistic interest in the
progress of Latin American develop
ment and in the stability Of the govern
ments to the south. We are buying
from and selling to South America ST.
600 100000 worth of products annually
We are the chief customer of, the chief
source of SIInnlY for most of Latin