Many who know South America well will dissent from the suggestion that the war is helping to mould into some kind of shape the rather shadowy scheme called Pan-Americanism. They will point to the fact that most South Americans would rather have dealings with a European than with a North American and will recall what has been said elsewhere, namely, that the two Americas, both historically and actually, face severally towards Europe and not towards one another. All this is true; yet there are signs that the tendency called Pan-Americanism, hitherto a rather unsubstantial vision, may become a reality, differing indeed from the picture traced by some North American prophets, but resting upon more solid bases. We have touched upon business relations and the machinery for carrying them on. As to political relations, the growing strength of the greater South American republics counts for much. They feel themselves to be in a position to say, "We do not want your protection; but we value your equal friendship; for we are Americans as well as you. And we are willing to group ourselves together for the preservation and protection of that America which is ours." An equal understanding between equals--provided it is not too formal at first, and is allowed to be moulded by the course of events--would probably meet with a fairly general assent, which might gradually win over those holding aloof at first. Something of the kind seems to be taking form at the present time. The ultimate result may be the formation of a Concert of America, in which the more tranquil and educated elements may guide the whole. President Wilson has suggested some such arrangement, and proposes a combination of American republics as the best security against aggression by one American Power upon another. From what has been said above, it is obvious that some of the Caribbean lands would enter such a combination as satellites or subject-allies of the United States. Such an arrangement is not unparalleled and does not seem impracticable, since these small states have already entered the war in that capacity. Obviously, Pan-Americanism cannot aim at precise symmetry or theoretical consistency. It must be an elastic system, and must be prepared to meet and overcome difficulties. That is the purpose of its existence. But in general the first condition of a Pan-American combination would seem to be the abandonment of any pretensions to hegemony by any one state. Such pretensions have shattered the Concert of Europe. But America is a younger Europe which may take example--and warning too--from that old Europe which has given her such institutions and such order as she possesses. Thus a New World may indeed arise to redress the balance of the Old. * * * * *