Red Lodge daily news combined with Carbon County news., 1932-02-18

II deposit box The nrOcess has been reasonably sure that the Japanese
going or for a year OIL so with counterplan will be accepted.
fluctuating Intensity and still keeps 100000
up. 1t has all along been foolish The international commission of
and unpatriotic, but is douby so inquiry, which the League of Ma
now that the Reconstruction Fin tions is sending to Manchuria con-
ance Corporation has been set up sists of British, French, Italian and
and supplied with funds to come to German representatives They will
the aid of any bank exposed to a be Joined in New York by Major
run while really solvent. Gen. Frank R. Mccoy, the Amer
Andrew W. Mellon, Secretary of San Francisco in an effort to catch
the Treasury, has been appointed the steamer President Coolidge,
Ambassador to Great Britain, has which may be held a few hours for
accepted the post and is expected to them.
withdraw from the Cabinet in q oooOooo
Few days. President Hoover issued Admiral Montgomery NJ. Taylor,
a statement saying that the sery-l Commander-in-Chnf of the United
producers need To- sell, and on a basis of cheap produc-
ton against which our standards of life cannot stand up.
But IN Central and South America are fields for Am
erican investment and development of a kind for which
our own experience as creators of values from virgin re-
sources peculiarly fits Americans. Central and South
America chiefly produce what we cannot produce at
home, and there a natural demand exists for what we
produce and which these countries do not. Here is a
basis of fair and mutually profitable exchange, which
will contribute in the long run to the raising of standards
of living in Latin America without the degradation of
our standards in the United States.
An example OF this is found in the Argentine Republic.
where American loans aggregate about a billion dollars.
These debts are good. The money has been used for
development in the Argentine. European nations, es-
peclally Germany and England, had cornered most of the
trade IN the Argentine when the Americans began this
policy of extending legitimate credits. Now the United
States leads in trade there.
south America has the area and resources to maintain
a population many times that now living there # is
almost as undeveloped as our country west of the Miss
lsslppl prior to the Civil War. There are railroads to
be built, mines to be developed and many other resources
TO be utilized. We have treated this situation only cas-
ually; 1t has not been a matter of national concern. Rnt|
1t should be. Americans should be in these countries
not as eXplolters to the detriment of these nations. but
In helpful cooperation with them. We need better shin
ping facilities, closer friendly relations, and much less of
the disposition which has been shown by financial adj
Venturers to engage for profit in the political machin-
ahons which have cost these countries 50 much in dis
turbance of their stability.
LII is essential to this purpose however, that we should
cease weakening on the Monroe Doctrine and in tolera-
ton OF the revolutionary movements which not only en-
danger foreign but domestic life and property. We have
had much agitation looking forward to the decline of
American and the growth of foreign Influence in this
hemisphere. We have had too much talk about our I'M
Willingness to take a firm stand when m~ilitarists and
politlcos IN these countries ride rough shod over consti-
tutlonal forms. We have had too much imputation of
American motives in this hemisphere right here at home
among the class Of political crisis which always assumes
that whatever this country does, is wrong.
The United States has always maintained, thru its
greater wealth and naval strength, a certain position of
friendly guardianship in this hemisphere. The oft re-
peated statement that this has been for the purpose of
working our own will and ends, is refuted by the we'll
known fact that with the power to do SO, we have not
seized a foot of land in this hemisphere by military
means from any one Of the many independent nations
Of the New World since the Mexican War. OF course
this country was accused by our domestic auslanders of
melting the Panama revolution. When corrupt officials
OF Colombia, partly thru foreign connivance, undertook
to r%epudiate a solemn treaty with the United States and
prevent the carrying out Of this great waterway project
OF more Importance to Colombia and to Latin-America
generally than to the United States, the Panamanians
mad plenty OF reason for revolving, since they stood to