Evening star., 1930-12-07

those who have invested, contemplate
investing or may in the future invest
their capital in this country, in accord
ance with our laws, the strongest assur-
ances that Colombia viii comply strictly
with its contracts; that she does not
seek, nor will she seek, means TO escape
fulfillment of her obligations, and will
not countenance at all any non-fulhll-
ment Of obligations by the contracting
party"
In concluding his statement the min
lister of industries remarked that who-
ever contracts or may have contracted
with Colombia, legally and in good
faith, need harbor no fears as to the
Development of his business arising
from any action of the authorities or
from a feeling of insecurity in the attt-
tude Of the people, since, according to
the constitution, "the authorities Of the
republic will protect with guarantees
the contracting parties who on their
part fulfill their obligations and submit
strictly to the Colombian law"
THE KEY TO ELDORADo.
Yet the outstanding fact Is not the
open, frank support Of the projected
Government, but the favorable way m
which public opinion. in that Southern
republic has received 1t.
This new attitude Of the Colombian
people is an indication OF better un-
derstanding of the purposes of Ameri-
can capital in the Spanish-speaking
countries. The ColombianS at least
seem to have come to. understand that
Uncle Sam is not seeking an economic
vassalage of the Latin American coun-
| tries nor a financial control with yelled
political intent And they seem to have
come to understand that the only-or
at least the nearest-Solution of their
economic problems is an open, active
cooperation with American capital.
Colombia Is a country rich In natural
resources, inexhaustible wealth hidden
in vost stretches of virgin lands, In
gigantic mountains or In depths beneath
the surface as yet almost unknown, but
she lacks capital to undertake the de-
velopment or even the exploration Of
these treasure of nature. And without
capital their value Is almost nil. With
out capital they are little more valuable
to the country than q magnificent Rolls
Royce without q drop Of gasoline would
be to q motorist. Capital Is the key
that opens the safe of natural riches.
And the case of Colombia Is the same
as that of nearly all the Latin American
republics. Cooperation with American
CaplCeI Is uOI OILY UeCSSbdIy .DuL VII
avoidable. The interests Of the Latin
Americans must be directed in such a
way that they may be compatible with
those Of American capital in search OF
new activities. Obviously, American in
vestors must submit to the laws Of the
country In which they are operating,
but these laws should offer encourage
ment and protection II they are to
serve their purpose.
This is just what the Colombian ad-
ministration Is now doing President
Olaya Herrera Is to be congratulated on
his excellent plotting Of Colombian poll
cies in this respect And government
officials in other Latin American re-
publics might well profit by observing
his tactics in steering the Colombian
ship Of state to safety through furi-
Gus economic tempest which is endan-
gering the stability Of many govern
ments down on the other side Of the Rio
Grande and has already sunk several
of them with dramatic ease.
(Copyright, ls3o)