Federal Palace, where the second Pan-American
Congress was held in the City of Mexico.
In the meantime the trade with these countries has been largely
monopolized by England, France, and Germany. During the year 1905, the
total exports and imports of the Latin-American countries amounted to
$2,000,000,000. Of this foreign trade the United States bought 35 per
cent of the exports and sold to these countries only 27 per cent of
their imports, producing an unfavorable balance of trade amounting to
$200,000,000. Of the goods imported from this country, over one-fourth
went to Mexico and Cuba. In that year Brazil bought from the United