If there were no results other than the saving of a week or a month of steamer time, the Canal would be cheap at several times its price. But these changes in steamer schedules and prices introduce an entirely new set of reactions into the commercial and social world, and this is where the interesting problems arise. Left to herself, nature tends to establish a balance of flora or fauna in any locality. Introduce a new plant or animal or microbe and all sorts of readjustments begin at once, and before a new balance is established almost anything may happen. Commerce finds its level in much the same way and by the same law. Introduce a radical disturbance, like the Panama short-cut, and everything begins to happen. Add the direct and indirect results of the war with its weakening of German influence and strengthening of inter-American interests, and we may have practically a new world before a new balance is established.

Commercial interests naturally forge to the front in any discussion of canal results. So ably have these matters been discussed by experts that any repetition of figures and industries here would be beyond the scope of this work.

It must be understood that the world war rendered obsolete our former ideas regarding trade between the United States and Spanish-America. Whether the extensive German political-commercial machine that covered all Latin-America can regain its prestige in fifty years to come remains to be seen, but it is certain that for a generation following the defeat of Germany by the free nations of the world North America will have a magnificent opportunity to enter South American trade on very advantageous terms. And the great bulk of the west-coast trade will pass through the Canal on its way to Gulf and Atlantic ports, as well as to Europe.

The completion of the Panama Canal may be set down as the date of the discovery of Latin-America by the people of the United States. Previous to that date the North Americans were aware enough of the Monroe Doctrine, but almost unaware of the lives and interests of the nations living south of the Rio Grande River. With the opening of the Canal the North Americans began thinking south, and so far as the process has gone it has been very informing. Once the war is out of the way, the process will be greatly accelerated. With uninterrupted commercial conditions, five years of the expanded life due to the Canal will be about equal to sending the whole people back to school for a year. The cultural and geographical values of this new zone of thinking have hardly been felt as yet, but now that the attention of the world is released from the battlefields of Europe and the enormous social and financial problems arising from the expense of making the world decent once for all, the tide of interest is again turning southward along the shores of our own great oceans to the mighty events that await us there.

Spanish-America has twelve republics and eight thousand miles of coast line on the Pacific ocean. The United States has a Pacific Coast of about fifteen hundred miles. The eight thousand miles marks the western boundaries of lands enormously rich in things that the world needs, but exceedingly poor in finished products or adequate growth. Probably no country on earth shows a wider margin to-day between present raw resources and possible high developments than these same twelve Spanish-speaking countries. The only analogy that bears on the case is that of the rapid and extensive advancement of the Pacific States after the completion of the transcontinental railroads. There is reason to believe that a similar record of progress awaits the west coast of South America.

The combined foreign trade of the west-coast republics before the war reached the very respectable total of nearly one billion of gold dollars in a single year. There are commercial prophets who believe that within ten years from the completion of demobilization this volume of trade may be doubled. This means new markets, new industries, new development of mines, markets, manufactures, and agriculture, new colonization projects and a score of other unpredictable results. No less an authority than Mr. John L. Barrett says, "I believe that the Panama Canal will initiate in all South American countries a genuine movement which will have a most important bearing on the commerce and civilization of the world."

An immense amount of iron lies buried in the mountains of the west coast. Not much has ever been done about it. But enormous quantities of ore have been destroyed by the processes of war, and South American iron may come to high values sooner than its owners have supposed.

It is only recently that consideration has been given to the idea of establishing in connection with the Canal a great commercial trans-shipping point. Colon is yet a little town, mostly West Indian to-day, but already the Cristobal docks are piled high with South American products awaiting reshipment. The proposed establishment of a free port at Colon may yet result in a western Hongkong where the commerce of the seven seas comes together to be distributed to the five continents. Whatever might have been the results had there been no war, it is now sure that everything that happens in South America has henceforth a very definite significance for the United States. Whether we like it or not, we are out of our exclusive dooryard and will have to take our place on the great national street named America and play the game with our neighbors.

For decades past Central America has been an unknown land to the United States. We have contentedly supposed that the only crop was that of revolutions and the only resources a few jungle fruits. But at last we are discovering Central America, and some of us are astonished to there find vast areas, fertile soils, varied and valuable products, intelligent peoples, a volume of commerce and climate fit for Eden. We knew little and cared less about Guatemala, Salvador, Honduras, Nicaragua, Costa Rica, and Panama; and since the bulk of trade of these lands was with Europe, they paid little attention to us. Why should they do otherwise?

The presence of the United States on the Isthmus of Panama introduces a new factor into the American tropics. It looks very small and insignificant, that little ten-mile strip with the influence in Panamanian affairs, but how far the North American influence is going to reach out beyond the Zone limits cannot be known. Everybody is watching the results for revolution-proof, permanently peaceful Panama, and there are other countries not far away where there are people who are praying for something like it, or just-as-good, for themselves. Doubtless their prayers will not be answered directly but the influence of this leaven may work out into a wide circle and instigate movements that we have not counted upon.