We speak of North America as Teutonic--made prosperous by the stock of northern Europe--and South America as Spanish. Latin America, however, does not all lie south of the Panama Canal. We must begin to reckon it from the territory line which separates the United States from Mexico. Southwards from the banks of the Rio Grande the Latin tongue is spoken, chiefly Spanish, but with much Portuguese in Brazil, and Italian in places right down, through the Torrid Zone, the heavy tropics, reeking with luxuriant vegetation, to the bleak and rocky, inhospitable Tierra del Fuego. There are millions of Latins. They have set up half a score of Republican governments. The wealthy world slowly and then impetuously realised the possibilities of this strangely diversified region. Untold gold has been poured forth to develop it and get quick return. It is not stories of treasure which bring a glint into the eye of modern men. It is enterprise and development which appeal. There are cattle to be reared on the ranches of Mexico; there is rubber in Peru; there are nitrates and fabulous mineral wealth in Chili and the neighbouring lands; there are cotton and sugar and coffee in the mighty sweep of Brazil; there are the illimitable wheat areas of Argentina, and cattle rearing and the giant possibilities in supplying Europe with frozen meat; there is the opening up of immense areas by networks of railroads. "The stuff is there; it has only to be got," says the man who knows and talks with the fire of enthusiasm. South America is not the land of the future. It is the land of to-day. Nowhere in the world is the speculator, the investor, more busy than in Latin America. The tales told by the first Spaniards are baby talk to the stories told to-day by those who have been and seen and are fascinated. Of course it is overdone. Of course there is exaggeration. Of course some of the jewels in El Dorado are useless stones. Of course some of the caves of Aladdin are found empty. But what the modern world ranks as precious is in abundance. I like to conjure a contrast between the little barques of a few hundred tonnage bobbing on unknown seas with the big fifteen-thousand tonners which make their ports of call according to time-table. The early invaders went into the unknown, crept along unmapped coasts, battled with savages, and died like flies before the scourge of fever. The whole story of the conquest and settlement of the Americas is one of slow victory through a mist of tragedy. The invaders of other days left their native lands with little hope to return. The invaders of to-day set forth waving an au revoir to their friends on the dock side.