Porto Rico will serve for a criterion by which to measure the future possibilities of this Empire of the South. In Porto Rico one may see the benefits of the institution of a really good government, and the success which attends a proper effort to develop natural resources in tropical America. If American opportunities in all Latin America may be measured by American successes in that island, then, indeed, the future is rich with promise. During a single decade the external commerce of this little gem of the West Indies was more than quadrupled. It now amounts to some $80,000,000 a year, and only about 12 other countries in the world buy more goods from the American manufacturer. The expansion of internal business has kept pace with the growth of external commerce. In seven years taxable values increased from less than $90,000,000 to more than $160,000,000. In a single year the amount of life insurance written in the island nearly doubled, and fire insurance increased nearly half. The exportation of sugar increased fivefold in 10 years, and the exportation of cigars 14 times. The population of the island has increased by half under the beneficient policies of the United States, going up from 800,000 in 1898 to 1,200,000 in 1912. During a single year Porto Rico buys about $35,000,000 worth of goods from the United States, and ships practically the same amount to this country. Should all Latin America prove as good a customer in proportion to area as Porto Rico, our trade with Latin America alone would be many fold greater than the entire foreign trade of the United States to-day. Should all Latin America, even with its present population, buy as liberally from the United States as Porto Rico does, we would sell annually to it nearly $2,000,000,000 worth of products. The most necessary step in developing the potentialities of Latin America is to provide good and stable government. Commercial statistics show how prosperity flourishes where good government reigns, and of how poverty dwells where misgovernment exists. One may go to Porto Rico, to Jamaica, to Curacao, or to St. Thomas, and in each of these countries may behold the wholesome rule of northern Europeans and their descendants. The people have at least those substantial rights which are necessary to the peace, happiness, and well-being of humanity; and equally without exception trade statistics show a greater foreign trade, in proportion to area and population, than is enjoyed in any country where misrule prevails. Porto Rico could be buried in a single lake of Nicaragua; it is only one-fifty-seventh as large as Central America; and yet Porto Rico has a foreign trade greater than all the territory from the Isthmus of Tehuantepec to the Isthmus of Panama.