by the success of their concessionaires and ex-
porters in the new markets. Each advantage lost
or gained becomes part of the score in which the
prestige of a nation is counted. The people take
an almost childish interest in whether German or
British capital shall finance the railway to Bag-
dad. In order to increase their prestige they in-
crease their armaments, their object being to
weight with force the diplomatic negotiation for
privileges.

This whole situation rests upon the fact that
there are rich undeveloped countries to exploit.
As soon as a territory becomes well-governed and
a normal commerce begins, that territory ceases to
be part of the stakes of diplomacy. A nation
like the Argentine differs from Persia in that
Persia is a field for imperialism and the Argen-
tine is not. When a country reaches the maturity
of the Argentine the diplomatic tension over it
is relaxed. The adventurers and militarists and
usurers turn elsewhere and the better kind of mer-
chant and investor comes in.

We have seen this process in our own history.
When our West was undeveloped it was the scene
of grabbing and grafting and wildcat exploita-

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