The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-05-11
OUR EXPORT TRADE.
II WIN Bring About Domestic Ow ncr.
ship Of American Enterprises.

To- TIE EnfToR or The SvN-Sir. That
the hlinf may lead the blind with tho
usual felicitous result. permit me to an
swcr Mr.. ioetschius's query in THE
SuS OF sunday last
The people Of the United States are
not NOW engaged IN a mad race in pur-
SUIT Of the almighty dollar. but IN "A
more pruSaic and more noble pursuit,
mat Of paying their honest debts. Po-
litical economists tell us that when SCI
curlt!es Of the people OF one country
are sid 10 the people Of another the
result is the same as though IL We're a
loan between them.
Sir George piish announced at the
herinning OF the war that foreign hold
ings OF American securities
TO SIX billions Of dollars.
The only WAYS hy which We may buy
these are by paying in money or mer-
chand!Se. The international movement
90 money has been toward Us 50 that
there remains oulv tho merchandise
movement to show how FAR "" have
progressed Tn" balance Of exports over
!mpOrts In the first year OF the war was
slightly over one billion OF dollars. So
far IN the second yea We have been
gaining at the rate of about two billions
Of dollars annually. These figures rep
recent only goods actually finished and
shipped. which ccoun for their great
disparity, In the first year only such
goods as We're completed IN that year
appear The second year viii show the
finishing IN OF the first Years orders.
together with such second years orders
as We shall be able 10 complete and ship
during that time. The end of the war
Will therefore not mark the cessation Of
this business. which II the contracts are
properly drawn will only cease on the
completion OF the orders given before
that time.
II would therefore seem reasonable
that should We continue 10 export 20
August, 1871, AZ our present rate, the
untitled orders would carry us to safety
from harm by forelcn creditors.
The economic waste in war consists
in the destruction of human life and in
the destruction II property. II may be
that the largest item of II ~ IN the
consumption of wealth, largely in excess
~ Us production, hv the everyday ne
cessitics Of the people engaged.
Nations do not incur debts with their
WI citizens for by the simple process
Of taxation they can recoup their treas
uries. Il therefore follows that instead
OF having an impoverished lot OF coun-
tries In Europe after tho war We MAJ
find customers o. ample resources ask
ing us 10 help replace this economic
waste.
One great fact stands out clearly IN
this troubled situation. that no matter
what temporary form It's financ!ng ma
take IL must eventually end in Ameri-
can ownership OF American Enterprises
The sooner his takes place the sooner
We shall he safe from evil effects IN
this world CONFUSION.
The attitude OF the Government to-
ward our people must undergo a radi-
cal change before this is likely.
Wealth can only be produced ny cant
tai, labor and tho raw material. The
good cod gives us the last through the
bounty of nature The first two are
human agencies.
The loss of any one NJ these thres
totally destroys production, HinderinG
any one Of them binders all. The chain
Is 10 stronger than It's weakest link,
We must therefore undo the economic
mistakes OF the Roosevelt, Taft and
Wilson Administrations and go back 10
the thrift OF Cleveland and the sanity
OF Mckinley and Mark Hanna.
II n. UrrEY.
New LONDON. Conn, May .,