Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1916-02-23
SEES AMERICA AS
WEALTH'SCENTER
Financier Believes United States Will
Be Banker OF World After
the World.

i |
will have to pay tribute to the United
States as the center of the worlds
wealth after 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 CEN
fury, although a Virginian born, and
who has 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
particularly with Italy, said;
1.-THE whole world is now consid-
ering tariff problems, the European
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
competition with it's own manufac-
turers as soon as the war is over.
~ 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 gold and cred
its 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 Eu-
ropes energies and money are going
into the war. When she gets rid of the
war, which l believe will be within
year, these energies will have to be
turned back into business.
II 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
ly ruined. 1t is an industrial country
and it's losses will be made up within
remarkably brief period. If Belgium
has 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.
Now, 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
it, to make it earn something.
But if all Of these countries put
, up tariff walls, they won't be able
to do business together. 1t would be
the case of a man biting off his nose
to spite his face. Italy, for instance,
now welcomes and will continue to
welcome 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, hel
i, agricultural machinery, her utensils
for starting factories going. Should
the United States put up tariff wall,
then Italy will do the same and shut
: out these products. Result-both par,
ties losers.
Il know there is an immense field
S in Italy for the United States. Italy
has long been neglected and misun-
derstood both as to her business and
: as to her people. Her business men
t are as honest and reliable as you may
find in any well organized country A
failure in business is considered by
business men calamity after which
, they can never lift their heads, and
they never get up again. Therefore
business men here pay their bills.
: 'The government also is honest anG
n has never tried to repudiate debt. Ii
= 1863 when Italy's rentes were dowr
to AZ, the government kept right or
paying interest. 1 knew one man. ar
American living in Florence, who sole
: out all of his American stocks ant
: bonds and doubled his fortune by re-
s investing in these rentes. Italys people
e are hard-working, sober and hon est
e The traditions about their poverty
: their unreliable methods, have beer
e handed down for a hundred year!
It from the time when Italy was divided
up into little kingdoms and princi
n palities, warning and jealous of eacl
,e other and does not in the least appl,
n to present conditions. Nobody has eve
t. taken the trouble to correct these oil.
" lies.
l. Take 1taly's attitude in the pres
n ent war. 1t too has been misunder
stood or misinterpreted. Italy did no
- want to go into this war. She had Jus
come out of a costly one In Afric
and was not prepared to go into anoth
er. Then, after a long struggle, sh
was cementing real sentiment O
Il union among her people. Much ha
been said of her manner of gong int
the war. You say that it has bsen sal
r. that she was apparently trying to Sc
whether Germany or the allies woul
pay the most for her services. Moth
4 Ing could be more untrue In respec
to her treaty with Germany, It wa
D. not love affair, but one to p-eserv
the peace of Europe, peace whic
It. she heartily desired. Germany di
not ask her consent to go to wal
v knowing that Italy would immediatel
re- try to stop the war.
d The reason Italy did 60 into tn
I'd var was not because of the promis
Is CT pay from the allies. but reluctan nj