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192 capital, and we have been borrowing money abroad to meet our needs at home. Their inhabitants are idle for lack of employment; they will respond to our capital. The United States is the natural market for the West Indies; they lie close to our shores, and when the Nicaragua Canal comes they will be but islands in an American lake—parts of the industrial unit of Greater America. They can give us the things that are needed to round out our consumption, and we can do the same for them.

It is illogical and unlike American shrewdness to go seven thousand miles for tropic lands when an equally valuable, a more valuable, area is within seven hundred miles of us. The comparison becomes even more striking when it is remembered that the control of the Philippines brings to us a burden of problems from which industrial development in this country is free.

The Government at Washington may spend our millions and establish government in the Philippines, but will American capital go there? Will our citizens invest their money seven thousand miles away while tropic America is so much nearer, and is, moreover, an equally rich and far more extended field? This does not assume the conquest of American regions. It is not necessary to have governmental control in order to profit by the industries of a country. The conditions of modern industry prove this most conclusively. But for this fact the progress of the world would have been much less rapid. We have an example of this in American railroads: they have been largely built by English capital; the same is also true to a greater or less degree of many of our other industries. What England has done in North America without governmental control, we can do in Central and South America when our industrial condition demands new areas to work over. By the modernized Monroe doctrine our supremacy in this hemisphere is assured, and we have the guarantee of a clear field. Our interests are also furthered by our friendly relations with the American peoples and by our nearness to them.

The American policy of our forefathers is the one for us, even from the industrial point of view. America is an industrial unit, an economic unit, full of undeveloped possibilities that await the hand of American enterprise. Our resources can abundantly provide for our material needs. The continent is controlled by the most ingenious of all the races, and is dominated by the highest political ideals known to man. What need have we to reach out across seven thousand miles of ocean to take lands populous with millions of barbarians?