The West Virginian. [volume] (Fairmont, W. Va.) 1914-1974, 1916-02-09
NOT ALL COMING IN;
NOTHING GOING 0yT.
America Will Have to Spend
Money in Europe, Says
Banker.

ROME, Jan. 90; Correspondence
Associated Press)- While Europe will
have to pay tribute to the United
States as the center of the worlds
wealth after the wal, the United
States also will be compelled to make
huge investments in Europe, accord
ing to George B. Page, the banker
and flnancier.
Mr.. Tage, who has been established
in Italy for the past quarter Of q cen.
fury. although a Virginian born, and
who las perhaps been longer in touch
with European business than any 9TH
er American, during an interview with
! the Associated Press correspondent on
the present and future relations of the
United States with Europe, and par
ticularly with Italy, said:
1.-THE world is now considering taritt
problems, the Europeans to get mo.
ney TO pay interest on their war
loans, and the United States to shut
out products OF foreig industry that
1t expects viii! come into sharp COM
petition with its own manufacturers
so soon as the war is over.
II think it will be a mistake on
both sides OF the water to raise tariffs
unfortunately. The situation is
coming to this: The United States
is prospecting as the only big nation
not at war. She is piling up gold and
credits against Europe, her customer
AS result she viii have too much
money soon, so much she won't know
what to do with it. On the other
hand Europe's energies and money are
going into the war. When she gets
rid of the war, which / believe will
be within a year, these energies Will
have to be turned into business.
81 do not look for any wholesale
commercial disaster in Europe, such
as the South met after the Civil War.
l do not look. for even a devastated
country like Belgium to be permanent
~ ruined: It is an industrial fcountry
and its losses will lbe made up within
a remarkably brief period. II Bel.
GUM has not been ruined, If you can.
not destroy a nation, then it Is idle
to argue that Germany can be de-
stroyed. She too will be on her feet
sooner than many are willing to ad:
nit. .8r
snow, given these two conditions,
too much money in the United States
and plenty OF energy but less money
in Europe, there Is but one logical
conclusion: the United States must
send her money. and products repre-
senting money over here to get rid
OF 1t, to make it earn something.
"But II all OF these countries put
up tariff walls, they won't BIO able to
do business together. It would be the
case OF man biting of his nose to
spite his face. Italy, for instance, now
welcomes and will continue to vel.
come trade with the United States.
Capital from the United States would
find good employment, but Italy needs
her raw cotton, her. coal, and in par
ticular her electrical machinery. her
agricultural machinery, her. utensils
for starting factories going. Should
the United States put up "a tariff wall,
then italy will do the same and shut
out these products. Result-both par
ties losers.
..I know there is an immense field
In Italy for the United States. Italy
has long been neglected and misun:
derstootl both as to her business and
as to her people. Her business men
are as honest and reliable as you may
find IN any we'll organized country.
a failure in sbusines is Sconside red by
business men a. calamity after they
0;S$: never lift their head. and sthey;l