The economic side of this French movement appears in the institution of a "Latin-American week," a kind of festival for propaganda and intercourse, to be celebrated annually in some great business centre of France. The inaugural seven days' meeting was held at Lyons in December 1916. Sixty Latin-American delegates were present, and were met by 200 French delegates from Paris, among them leading men representing every side of French life. The conference discussed every aspect of the relations between France and Latin America, and the means of extending and improving those relations.

The cordiality of intercourse finds its most pleasant manifestation in the frequent visits to South America of distinguished Frenchmen—among them have been Anatole France and Clemenceau—who carry messages of sympathy across the Atlantic to crowded and enthusiastic gatherings in Latin-American cities.

In the United States this double movement, intellectual and economic, is still more marked. Latin-American history and economics are regularly taught in the universities, and prizes are provided for essays on historical works on those lands. Harvard University has a special endowment for Latin-American studies, an Instructor in Latin-American history and a South American Library of 10,000 volumes; and the University, in order to encourage the entry of Latin-American students, dispenses with the use of the English language in the Entrance Examination in certain cases. The Jesuit traveller, Father Zahm, better known by his pen-name of Mozans, has presented his South American library to Notre Dame University, Indiana. The Rector of the Leland Stanford Junior University places at the disposal of the University his library of 7000 volumes on Brazil. Scholarships are granted in the Universities to Latin-American women students. In the year 1913, Latin-American students in American universities numbered 813. American scientific missions are at work in Latin America, as well as missions of teachers to study educational methods in those lands and to invite return visits to the United States. One hears, moreover, of a Spanish-American Athenæum at Washington, 2000 institutions teaching the Spanish language, 1700 clubs formed for the study of Latin America, new magazines dealing exclusively with those regions, Argentine men of letters received with an honoured public welcome, an Inter-American Round Table, founded by representative ladies of New York, who propose to hold annual meetings of women, to take place successively in the capitals of the American Republics.

This educational and social movement accompanies and supports a great business effort directed towards Latin America. The latter has an obvious bearing on the subject of Pan-Americanism, which is treated in a later chapter: but it is convenient to indicate the facts here, as forming part of a general movement of approach by other peoples towards Latin America. The American business effort assumed concrete form at the beginning of the war, when the United States Government invited the Finance Ministers and leading bankers of all the American Republics to a Financial conference at Washington. All but Mexico and Haiti accepted. The conference met in March 1915. A committee was appointed for each republic, and their reports were submitted to a joint committee. The decisions so reached were unanimously accepted by the whole conference. They recommended a standard gold coin for the whole of America, also unification of regulations concerning classification of merchandise, customs, consular certificates and invoices, trade marks and kindred matters. Questions of banking facilities, transport and credit were also discussed.

Furthermore, it was decided to institute an International High Commission, which should continue permanently the work of the conference, sitting in rotation in the capitals of the several republics. This commission met first in Buenos Aires in April 1916, and decided to create a Central Executive Council to consist of three members, namely the chairman, vice-chairman and secretary of the section representing whatever country should be at the time the headquarters of the High Commission. On the motion of Argentina it was unanimously agreed that the headquarters for the first year should be Washington. Thus the first Central Executive Council consisted of three North Americans, the three heads of the United States section of the International High Commission.

During the last three years, North American capital has been poured into Latin America, notably into Brazil, although perhaps the most striking instance is the acquisition of three huge and profitable mining properties in Chile, producing copper and iron. American commissioners are studying the field; direct steamship communication between the two continents has been extended; and American banks have been opened in many South American cities. It is remarkable how large a space is given day by day to Latin America in the Daily Commerce Report and List of Trade Opportunities published by the United States Bureau of Foreign and Domestic Commerce. Meanwhile the Pan-American Union, housed in a magnificent palace at Washington, labours unceasingly to draw closer the political, economic, social, and intellectual relations.

But in other directions, indeed in all directions, Latin-American economic and international relations are opening out and finding new roads. Canada has earned a high reputation by her industrial enterprises, and Canadian banks are being established in South American capitals. The Dutch too are opening banks and preparing to extend their trade. Japan, also, is drawing closer to this new Europe of the western hemisphere. Japanese immigration is increasing, not only to the republics of the Pacific coast, but also to Southern Brazil. The Japanese steamship service to the west coast has been extended, and lines of Japanese ships are now running, also, to Buenos Aires and Rio. Industrial Japan aims at substituting for German trade the production of goods formerly imported from Germany, and Japanese pioneers are travelling in South America to study and prepare the ground. Japanese relations with Chile are particularly close and friendly. Chile can supply iron and copper, which Japan wants; and in return Chile is prepared to take Japanese cotton and silk. Kaolin or china clay was lately discovered in Chile: a specimen was sent to Japan for trial; and, as a result, a china factory has been started in Chile, the skilled labour being provided by Japanese artisans. Truly, the whole world is drawing nearer to South America.

What of the British position? The British "re-discovered" Latin America more than a century ago. England, as well as France, was the school of Miranda and Bolívar. England provided the sinews of war for the emancipation of these lands, and the British legion which served under Bolívar was saluted by him, on the battle-field, as Salvadores de mi patria. South America honours the name of Cochrane among the heroic figures which stand upon the threshold of independence: nor has she forgotten how Canning's generous statesmanship helped her to secure the fruits of victory. One may read, in great part, the history of the struggle for independence in Memoirs written by Englishmen who took part in it. And in succeeding years the British held in those countries a peculiar position of gratitude and respect. The first Argentine foreign treaty was with Great Britain. Uruguay owes her independence, in part at least, to the intervention of British diplomacy, which was held in equal honour at Buenos Aires and in Rio. The founder of the Pacific Steam Navigation Company was an American, who, failing to find support in his own country, went to England, and there launched his great scheme of maritime trade on the Pacific coast. The same American, William Wheelwright, was the founder of the Argentine railway system, through English capital and enterprise. Over 1000 millions sterling of British capital are invested in Latin America in the form of government loans and corporate enterprises whose capital can be counted, without reckoning private investments, such as ownership of land. Total British investments in the Argentine alone exceed 500 millions sterling. The British created the Chilian nitrate industry, in which Chilian and British ownership are now about equal. Our fathers and grandfathers dared much, risked much, lost much and gained much in Latin America, and have left us an unrivalled reputation for good work and steady integrity. Palabra de Inglés, "the word of an Englishman," is still a proverb throughout those countries.

Yet there is truth in the remark of a German author that the British have made no "cultural efforts" in Latin America. They are viewed with respect rather than with an intimate cordiality which they have not sought. It has been said that an Argentine takes off his hat to an Englishman, but tucks his arm in that of a Frenchman. This absence of deliberate effort does not mean the absence of moral influence. An official of the Pan-American Union remarked to the present writer that the English had done a "wonderful work" in Argentina by introducing and spreading the game of football, which had taught lessons of fair play, voluntary disciplined combination and good humour in defeat. The Boy Scout movement has taken root throughout Latin America, holding up everywhere in the spirit of its work and in local Scout papers a high standard of honour, truthfulness and conduct. These are some examples of a widespread influence exerted by certain sides of English life and character. Yet a certain atmosphere of aloofness still envelopes the British in Latin America, and this attitude is reflected in England. The languages and the history of those lands have not received their due in our schools and colleges. It has been comparatively rare to find in this country a keen and well-informed interest in matters wherein our own people have had a far greater share than our neighbours on the European continent or in the United States. What is wanting is a breath of enthusiasm for a most picturesque past, a present situation of absorbing interest, and the prospect of a future which promises boundless possibilities.

Yet the movement of recognition is making way among us. The number of descriptive books published in recent years concerning those countries points to a reviving interest. Our schools are providing Spanish classes: our universities are founding professorships or lectureships in the Spanish and Portuguese languages, and the study of Latin-American history is finding admission to its due academic place. We are beginning to perceive that the life of those countries touches us closely, and that some knowledge and thoughtful interest concerning them should be part of the mental equipment of an educated Englishman. Moreover, the recent establishment of an Anglo-Spanish Society and also of an Anglo-Portuguese and Brazilian Society indicates a growing disposition for sympathetic and reasonable intercourse with the peoples of the Ibero-American lands.