two of them in distress) the flag of
the United States. The bulk of goods from this country to South America
goes by the way of European ports and on foreign ships.

[Illustration]
Courtesy of the Pan-American Union.
Monroe Palace, where the third Pan-American
Conference was held in Rio de Janeiro.

July 4, 1906, the third Pan-American conference was opened at Rio
Janeiro. Among the leading questions discussed were: (1) the right of
creditor nations to enforce by war on the debtor nations contractual
obligations, or the right to use gun-boats as collection agents; and (2)
those relating to commercial intercourse. Besides the regular delegates
from the United States, Elihu Root, Secretary of State, was present at
the opening session. His address at this meeting, together with his
visit to the leading cities, served to inaugurate a new understanding
between these countries and the United States. The true American policy
was set forth by Secretary Root in the following toast: "May the
independence, the freedom, and the rights of the least and weakest be
ever respected equally with the rights of the strongest, and may we all
do our share toward the building up of a sound and enlightened public
opinion of the Americas which shall everywhere, upon both continents,
mightily promote the reign of peace, of order, and of justice in every
American republic." He went as Ambassador Extraordinary representing the
President of the United States. In order to emphasize his official
position, he travelled on an American war-ship. His addresses made in
the various cities were intended to be an official declaration from the
government of the United States, and that position was outlined in his
formal address before the congress. "We wish for no victories," he said,
"but those of peace; for no territory except our own; for no sovereignty
except the sovereignty over ourselves. We deem the independence and
equal rights of the smallest and weakest member of the family of nations
entitled to as much respect as those of the greatest empire, and we deem
the observance of that respect the chief guaranty of the weak against
the oppression of the strong. We neither claim nor desire any rights or
privileges or powers that we do not freely concede to every American
republic. We wish to increase our prosperity, to expand our trade, to
grow in wealth, in wisdom, and in spirit, but our conception of the true
way to accomplish this is not to pull do