There is something repellent in counting our advantages under the shadow of so great a tragedy but we must try to be as practical as those who are fond of accusing us of materialism. Does any one think that the steam-roller of admirably organized and Government-fostered German competition would pause if we lay in the road; that if we received a check, Anglo-Saxon cousinship and fair play would always mitigate British competition; or that then not a single European merchant in South America would ever again use scorn and detraction against our goods, or encourage, through influence with the press, prejudice due to "Yankee peril" nonsense? In short, is it likely that all our competitors would suddenly love us just because we were in trouble? No, things are not as they should be and meanwhile must be dealt with as they are. There used to be apparently very little hope of our shaking the tree and gathering the golden fruit of foreign enterprise unless forced to it by the collapse, through dire hard times, of the wonderful home market which has made spoiled children of our manufacturers. Now comes this war. It forces upon us a wonderful, a unique opportunity to gain and hold our proper place in the finance, trade, and enterprise of Latin America. The richness of the field is often exaggerated, but its cultivation is certainly worth the effort of men of foresight. What are we going to do about it? This is the question; for if American business men do not do their part the ultimate effect of the war upon our economic interests in this part of the world will be unimportant. We must not be like the young gold miners who were looking exclusively for large nuggets with handles. We must go at it seriously and scientifically and solidly, not superficially, casually, and opportunistically. We must begin with the earnest intention of continuing our efforts for all time. An enthusiastic commercial spasm will be worth nothing. There have got to be real efforts, real hard work, the expenditure of money for future and not merely immediate profits, a cheerful readiness to discard old and cherished methods, a new adaptability, a new painstaking attention to details. There has got to be serious study of foreign countries and keen interest in our relations to them. Without all this, mailing catalogues, (usually in English,) banquets and speeches and organizations will take us nowhere.