The Lakeland evening telegram. (Lakeland, Fla.) 1911-1922, 1916-11-22
peace comes

/, The same is true of all other raw
materials, Mr.. Thompson said. Amer.
lea should be in position to ship mol
only raw materials, however, Blu:
manufactured products, to the coun.
/ tries of Europe when the war il
ever. American manufacturers
should prepare for the change in de-
mand from war munitions to manu-
featured goods of all kinds when
peace is declared. Skilled labor
should be kept we'll in hand and the
manufacturers should be in posi-
ton, on short notice, to turn NUM-
tions plants into mills for the manu-
facture of the goods which Europe
will need in rebuilding her indus
tries.
Mr.. Thompson characterized as
perfectly absurd the political talk
that the factories of Europe will
flood America with cheap manufac-
tured products when the war is
over, thus endangering American
manufacturing without a protective
tariff. In the case of Germany, he
said, which has been named as the
most dangerous of the countries as
source of cheap competition, it
Will be necessary for them to import
large quantities of raw materials be-
fore they can turn them into the
manufactured products and send
them to America to compete with
American goods. During times of
peace Germany normally imports
more than 2,000,OOO,0OO worth of
raw materials, yet fer two years she
has imported practically nothing, he
said. Consequently, he added. it is
absurd to think that Germany will
be in position to interfere with the
prosperity of the American manu-
facturers.
Englands Case Different
England's case is somewhat diff
ferents he said, yet England will not
be in a position industrially to en-
danger the prosperity of this country
with her cheap manufactured pro-
ducts. In addition, Mr.. Thompson
predicted that after the war the
great volume of trade which Ger
many has carried on in the past with
the British colonies will be turned to
England. If that is the case, Eng
land will have a foreign demand
from that source which will tax her
manufacturing facilities to the lin
it, making it impossible for her to
export much, if anything, to Amer
lea.
With his knowledge of conditions
as they exist abroad, and from a
long study of trade conditions, Mr..
Thompson is confident that America
will continue to be the leading in
dustrial country of the world after
the war as she is at present, pro-
vided the manufacturers look ahead
and prepare for the demands that
will come with peace. Her trade
with the world would be greatly ia
cilitated with a merchant marine to
transport her goods, he said, but
that is not absolutely essential.
With the facilities offered by the
federal reserve system and that soon
to be offered by the farm loan bank
system, Mr.. Thompson believes that
the farmers of Texas can make no
mistake in producing as much cot
ton as possible. However, should
the war not be over when next
years crop is ready to market, it
would be necessary to store any sur
plus and hold it until the demand
justifies its sale. The federal re-
serve system would make this easy,
he believes. The coming of peace
will see an immediate demand from
the countries involved in war for at
lease 100000 bales of cotton to
make up for the years during which
they have imported practically
nothing, he believes, and the farm
ers of the South will reap rich
harvest if they are prepared to fill
that demand when it comes.