New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-11-17
Europe's Economic Revolution


The British public has enthusiastically
approved the governments plans Tor con-
trolling food supply and consumption ms
approval marks revolution in British
sentiment Il shows that the British peo-
ME have at last learned the great eco
no,nic lesson which the war in Europe has
been teaching.
They had already learned the military
lesson when they accepted the principle
of universal military service-when they
consented TO conscrption after the CONT
mental fashion. But they have been slow
in Kidding themselves Of ingrained ideas
of individualism in the economic field
They have wanted to retain the old frame
work Of individual rights and freedom, so
far as production and consumption are
concerned.
Now they are beginning to see the
larger benefits of community control, even
in such matters as personal employment
and food regulation. They realize that,
in order 10 win the war, they must hus-
band their resources as carefully as their
enemies do. They have been persuaded
that only by thorough economic as well
AS military organization, by the most rigid
economy along all lines, can the fullest
measure of national efficiency be devel-
oned Germany has shown what state
regulation and heroic frugality can do. so
has France. 1t is now Great Britains
turn TO cut out unnecessary expense In
consumption as we'll as in production-to
try to reduce the cost Of war by eliminat-
ing the waste of peace.
Few Americans appreciate the extent
Of the economic revolution which Europe
is undergoing. We are prone TO think
only of the weakening effects Of the waste
ontailed bv the war We overlook the
counteracting effects of the extraordinary
stimulation of energy which the war has
caused and Of the vast saving made
through the stoppage Of relatively non
productive labor and Of the superfuous
expenditure customary in time Of peace.
Those Of us who draw a picture Of
Europe industrially exhausted at the end
of the war are misled by superficial op-
timism. Europe is now going through
discipline Of the most salutary sort. Its
people are cutting out the enormous cost
of luxuries. They are living plainly and
carefully. Before the war is over they
will probably have freed themselves in
large measure from the economic burdens
of the alcoholic liquor traffic. All Euro
pean nations have put an end TO unem-
ployment. They have tapped sources OF
labor hitherto neglected. Their produc-
tive capacity has been vastly increased.
They have learned the lesson Of concen-
tration, of community effort. When the
war ends they will be able to Renter the
competition for the worlds markets better
organized for production and able to pro-
duce more per unit of population than
ever before. They will have achieved a
superiority in industry which the nations
which have not been engaged in the war
can hardly expect to challenge.
While the war has been going on the
United States has been growing rich-sl-
most without an effort. Prosperity has
been thrust upon us. But at the same
time we have become relaxed and over
fed. Our peace waste exceeds the peace
waste Of Europe in ordinary times. But
to-day American waste in living, in lux
uries, and even in production, is appalling
Pampered and enervated by war pros
perity, we shall be more than ever handi-
capped industrially when we try TO COM
pete again with the European nations,
hardened and invigorated by careful liv-
ing, rigid economy and sbstention from
wastefulness, and all eager to recoup
themselves by profitable selling in the
worlds markets.
Europe has learned to save and 70 pro-
duce economically. We have learned only
TO spend more recklessly than ever before.
/, 10 therefore grave mistake on our
part 10 pity and patronze Europe. She
ia gaining from the war as well as losing
~ Il. When the waste of war ceases she
viii have all the advantage on her side.
The great problem for this country TO-
cay IS 20 prepare itself economically so as
70 mold part Of its gains from the war.
When the struggle ends we shall have a
great surplus Of gold and large stock of
European obligations. But both the gold
and the securities will go back, II we act
on the foolish theory that Europe has been
bled white industrially. and consequently
underestimate her ability 10 contest with
US the possession Of our markets. No
fsllacy could be more dangerous TO us
than that. Our industrial position after