SELLING LATIN AMERICA 
I 
GENERAL REMARKS ON FOREIGN TRADE 
War completely changes commercial cur 
rents. The victor takes the established and 
profitable trade, leaving to the vanquished the 
harder lines of business and the development 
of new fields. This is as true of the first war 
recorded by history as it will be of the last. 
As an illustration of the veracity of this 
statement it is only necessary to recall our war 
with Spain. Prior to her defeat, Spain con 
trolled the bulk of the banking and commerce 
of the Philippines, Cuba and Porto Rico. 
To her possessions she exported wines, foods, 
manufactured articles, textiles, drugs, per 
fumes.. canned goods, shoes and hats, receiv 
ing in exchange their sugar, tobacco and cof 
fee.