Arizona republican., 1916-02-07
SAYS ]. ]. MUST
 PAY FUR PRESENT
 VAR PROSPERITY
Italian Banker Thinks Tide of Finance Will Flow in Opposite Direction When Present War is Concluded and Peace Comes
Republican A. P. Leased Wire1

Mir Page, who has been established n diy for l.. i.st Iuar:e' of a cen ny althou:- :. irginiap 30Tn. and who '.cs perF'l's ten longer in :,uch with European business tIiaR any other American, du,lr: an interview with the Associate Pr,+s cores ondant on the resent anc f., ure relations of the : nited States with Europe, and par ticularly with Italy, said:
 "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 1t expects will come into sharp compe- ution with it's own manufacturers as soon as the war is Over
 "I think it will be mistake on both sides of the water to raise tariffs in discriminatory. The situation is com ing to this: The United States is pros pering as the only big nation not at war. She is piling up gold and credits 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 1 believe will be within a year these energies will have to be turned back into business.
 "l do not look for any wholesale com mercial disaster in Europe, such as the south met after the Civil War. I do not look for even devastated country ifl tflr l
 It IS an industrial country and it's losses will be made up within re- markably 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 bus less money in Europe there is but one logical conclu- sion; the United States must send her money, and products representing 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. It would be the case of q 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 particular her electrical machinery, her agricul- turdI machinery, her utensils for start Ing factories going. Should the United States put up tariff wall. then Italy Will do the same and shut out these products. Result.-both parties losers. "l know there is an immense field in l ltaiy tor the United States. Italy has long been neglected and misunder- stood both as to her business and as to her people. Her business men are as honest and reliable as you may find Tn any well organized country. A fail ufe m business is considered by busi- ness men as a calamity, after which they can never lift their heads and they can never get up again Therefore business men here pay their bills.
 The government also is honest and has never tried to repudiate a debt In eighteen hundred and sixtv-six when ltaly's rentes were down to fortv-two .ne government kept right on paying interest l knew one man, an American llVihS at Florence, who sold out all of HIS American stocks and bonds and doubled his fortune by reinvesting in these rentes. ltaly's people are hard working, sober and honest. The tradi. tons about their poverty. their unre liable methods, have been handed down Tor hundred years from the tim, when Italy was divided up into littl, kingdoms and principalities. warrine and jealous of each other ana Goes no m the least apply to present conditions Nobdy has ever taken the trouble I, correst these old lies.
 rake ltaly's attitude in the presen war It, too, has been misunderstood and misinterpreted. Italy did not wan to go into this war. She had just conn out of costly one in Africa and wa not prepared to go into another. Then d1ter long struggle, she was cement ing real sentiment of union anon, her people. Much has been said of he manner of going into the war You sa, that It has been said that she was an parently trying to see whether Ger many or the allies would pav the mos Tor her services. Nothing could h, more untrue. In respect to her treat, With Gerlnany, 1t was not a love affa ir put one to preserve the peace of Eu rope, peace which she heartily do sired. Germany did not ask her con sent to go to war knowing that Itar would immediately try to stop the wal
 The reason Italy did not go into tb war was not because of the promise n pay from the allies but reluctantly a matter of national defense Whil there aid not exist hard feeling be tween the Germans and the Italian there has long been one between th
 italians and Austrians The frontie between these latter countries wa such that at any time the Austria n could invade Italy, and Italy could i, such case defend herself only with diff 1lculty, difficulty that is proven h
 the energy required in the present wal She IS not hanging back; but vanGuisb .1 ing day by day and step by step th difficult nature of the territory i
 which the advance must be made. Sh
 Will regain her two old provinces an
 thereby make impossible a future in
 vasion by Austria
 l "lf the United States desires to q