Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1916-02-09
ASSOCIATED Press Correspondence

ASSOCIATED Press Correspondence
Rome, Jan. 15.-While Europe will
have to pay tribute to the United States
as the center Of the worlds wealth aft
er the war, the United States also will
be compelled to make huge investments
in Europe, according to George B. Page,
the banker and financier.
Mr.. Page, who has been established
in Italy for the past quarter of a CEN
fury, although a Virginian born, and
who has perhaps been longer in touch
with European business men than any
other American. during an interview
with the Associated Press correspon-
dent on the present and future rela-
tons Of the United States with Europe,
and particularly with Italy, says:
THE whole world is now considering
tariff problems, the Europeans to get
money to pay interest on their war
loans, and the United States to shut
out products Of foreign industry that
it expects will come into sharp compe-
tition with its own manufacturers so
soon as the war is over.
81 think it will be a mistake on both
sides Of the water to raise tariffs IN
discriminatory. The situation is COM
ing to this: The United States is
prospecting as the only big nation not
at war. She is piling up abld and cred
it's against Europe, her customer. AS
a result she will 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 I believe will be within year,
these energies will have to be turned
back into business.
II do no, look for any wholesale
CONNIE rcial disaster in Europe. such as
the South met after the Civil War 1
do not look for even devastated coun-
try like Belgium to be permanently
ruined. 1t is an industrial country ana
its losses will be made up within re-
markedly brief period. II Belgium mas
not been ruined if you cannot destroy
a nation, then it is idle to argue that
Germany can be destroyed. She TOO
will be on her feet sooner than many
are willing to admit.
"\ow, given these two conditions,
too much money in the United states
and plenty of clergy but less money IN
E,,1rope. there is but one logical con-
clusion: The United States must send
her money, and products representing
money, over here to get rid OF IT, 10
make it earn something.
But if all of these countries put up
tariff walls they won't be able to 90
business, together. 1t would De tne
case of man biting off his nose 70
spite his face. Italy, for instance, no"
welcomes and will continue to welcome
trade with the United States. Capltai
from the United States would md
good employment, but Italy needs her
raw cotton. her coal, and in particular
ber electrical machinery, her agricul-
! tural machinery, her utensils Tor start
i,, factories going. Should the United
states nut I'D a tariff wall. then Italy
will do the same and shut out theSe
products. Result-both parties losers.
81 know there is an immense Helo III
I italy for the United States. ltaly mas
long been neglected and mlsunderstoo"
| both as to her business ana as 10 hei
neople. Her business men are as nom
est and reliable as you may find IN any
well organized country. fallure III
business is considered by business men
j., calamity after they can never hlt
their heads. and they can never get
IN again. Therefore business men mere
pay their bills. a
"The government also is honest. and
has never tried to repudlate oeo'' III
1866 when Italys rentes were GOWN u
40. the government kept right on pay
ing interest | knew one man. an
.hn
American living in Florence, VINO SUI,
ont all Of his American STOCKS All"
bonds and doubled his fortune by re-
investing in these rentes. ltaly peo
n,a are hard working, sober and non
act The traditions about their poverty,
tbeir unreliable methods, have been
handed down for a hundred years from
tho time when Italy was divided up into
little kingdoms and princlpantles' war :
ring and jealous of each other ana
does not in the least apply to present
conditions. Nobody has ever taken the
trouble to correct these old lies.
"Take Italy'S attitude in the present
war. It too has been misunderstood OF
misinterpreted. Italy did not want 10
90 into this war. She had just come
ont Of costly one in Africa and was
not prepared to go into another. Then
after a long struggle. she was cement
ing real sentiment of union among
her people. Much has been said OF
her manner of going into the war You
saw that it has been said that she was
apparently trying to see whether Ger
MANY or the Allies would pay the most
for her services. Nothing could be
more untrue. In respect to her treaty
with Germany. it was not love affair,
but one to preserve the peace OF
Europe, a peace which she heartily de-
sired. Germany did not ask her con-
sent to go to war. knowing that Italy
would Immediately try to stop the war.
1.-The reason Italy did go into the war
was not because of the promise of pay
from the Allies but, reluctantly. as a
matter of national defense. While there
did not exist a hard feeling between
the Germans and Italians there has
no n &c