Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-08-16
Real Land of Destiny

|
dividualistic variety, with Indians of a
dozen great and differing strsins and
with the Negroes who had been brought
| In Colonial DAYS from Africa. melt
! ing pot 1t was. and Is, compared TO
which the melting pot of the United
States is a mere Irish stew over
campfire
/ This race. whose characteristics de-
velop more and more clearly and in ac-
tuality veer with strange fatality to-
ward certain characteristics OF the neT'
race of North America--tf1is race DOM
/ mates Latin America today and will
! change that domination probably, only
1 as II itself changes. Four hundred years
/ is long in the history OF the New World.
I but 1t Is a brief breathing space in the
! history Of humanity The last century
/ has seen the growth Of Latin America
toward new ideals and new achieve
! f1ients that make vital our realization
I Of its power and originality and Of the
| place II can be shaped to fill worthily
I in the development of civilization The
gtaspine OF its offered opportunities
/ through sound development and intelb-
gent credit and investment plans is
one Of the profound solutions Of the
| present world crisis.
How great the opportunity of Latin
| America and row great the worlds need
of the opening Of its treasure house and
| OF its powers for the creation Of new
wealth and new human prosperity lies
/ today as an open book before dis
| tracted world-a world that can. and
must. for the next crowded century de-
velop its resources with slow delibers-
/ ton and farsighted wisdom. Ten years
/ after the close OF the World War We
I have seen the world threatened with
bankruptcy The fall in commodity
prices seemed to show that too much
vas being produced. and the slump in
the trade of manufactured goods indi-
Gated that there we're not enough peo-
pie able and willing to buy.
Struggle to Solve Difficulty.
One possible answer is certainly In
bringing into being a new world where
raw commodities might be given addi-
tional worth before they enter world
J markets. and where. in that adding Oh
fractions In value to raw exports, there
/ might be created a new buying power
! that will demand and consume the
! quantities Of surplus products that by
/ their lack Of markets have slowed up
i the business tempo of the whole world
The struggle of every forward visioned
student (as we'll ms of the leaders of
union labor has been to solve the pres
ent diffculty without cutting the poten-
| tial purchasing power Of the worries
! populations, but rather to find effective
/ ways to increase the numbers and the
! prosperity Of those who can buy
Only little over century ago. at
the time that the Monroe doctrine was
/ promulgated, George Canning, the
/ British prime minister declared that
/ he himself had raised up a New World
/ to redress the balance of the Old :"
/ There has been debate, largely on pa
i triotic lines. as to the justice of the
/ personal claim in this boast but the
! fact is beyond dispute, certainly in the
political realm
/ But greater question than politics
looms. and the creation Of a New
World Of economic power $50 far as ii
/ has been created in North America)
I has come to the rescue of the unbal-
snced economies of Europe in the last
+ few weeks. Yet TO be effective TO its
ultimate possibilities in the balancing
Of the world business situs ton that
New World must be called into being
| completely and rapidly, not merely in
North, but in South America
Hoover Saw Possibilities.
In the crisis of 1921 the opportunities
/ OF Latin America were obscured by the
very difhculties Of oyerorders and
crowded stocks which wrecked the
plans for the immediate revival Of that
1 seen
I clearly by many wise men-among
them, IL is said. the then Secretary OF
| Commerce Of the United States, Her
\ bert Hoover--that the world would have
a better chance of recovery If the
i wealth which was asked and was later
/ poured into the open NAV of Europe
/ were diverted deliberately to the build
ing up OF Latin America An invest
ment OF capital in Latin America then
i would have quickly brought in vast re-
! turns IN profit. becoming an incubator
/ OF wealth that in its turn might well
| rescue Europe through sound trade de-
! Velopment rather than by pouring Of
our capital, as we did and do pour il to-
day, into the bottomless pit across the
Atlantic
/ In 1922 the opportunities Of Latin
America doomed. for all TO see, as a field
/ for the employment of capital and for
the deliberate building OF the markets
which would buy not alone the goods of
North America. but the goods that Eu-
rope must sell as the only means OF re-
! gaining It's equilibrium. The unbalance
OF today is in large part due to the fact
that the money has been poured into
Europe direct and not into productive
enterprise that would create new. profit
able markets for Europe as well as for
ourselves. But the money was poured
into Europe, and not until the orgy Of
spending which eliminated In 1929 had
get IN was Latin America considered a
field for investment and then with no
studied plan, no careful preparation
such as alone can serve to build I'D any
new field OF business and trade
Has Not Yet Had Opportunity.
4 Even when the food OF golden invest
ment came 1t was inchoate, unstudied,
uncontrolled, and il dried up almost
overnight after a mad orgy OF spending,
without direction and without super
vision. Net yet has Latin America had
The opportunity for which II has waited
Tor four centuries, not vet has 1t even
begun TO take It's place in the economic
world The collapse of 1880 showed all
/ too plainly that its products were essen
+ TALLY raw materials to which virtually
nothing had been added before ship
ment and IN whose preparation the
methods OF century had gone On vtr-
tuaily unchanged
sweeping statement that but the
notable exceptions only emphasize It's
inherent truth Immense importations
( OF machinery have gone into Latin
America, Modern methods In meat
packing, in fruit growing. in the ham
ding OF certain steps in the preparation
and shipping process have oeen adopted.
but the field Is sttl practically virgin
Machinery in spite OF the s40o 600 600
worth imported in the last five years.
still has an immense untitled demand
that Is 70 be met In thc next quarter
century 10 the profit Of Latin America
RS well as those countries which fur
nsh IL
The tendency toward greater indus
triallzation toward thst development
which Is 50 simply expressed BY the idea
o! adding q fraction Of value to raw
commodities before they are shipped is
pronounced from one end OF latin
America TO tho other Twenty nations
await the aid and the help and the de-