The Lancaster news. [volume] (Lancaster, S.C.) 1905-current, 1916-05-30
CONTINUED from page 81

~ of these banks will be heavily
drawn upon when the trial comes.
We believe, however, their resources
will be adequate, and, should it be
necessary, increased facilities and
power will be granted. One salts
faction is at the end of the war we
shall owe very much less abroad than
at the beginning. and, as an offset to
the remaining debt, will hold large
amount Of foreign obligations. II
this position Is maintained. less OF
our earnings will be sent abroad as
interest and dividends, and we will
have more for investments on our
account.
In some lines Of manufactures we
have been thrown upon our own re-
sources.-new industries have been
established,--will we be able to main
tain them against foreign competi-
ton? Considerable amount of trade
has been diverted to this country
our manufacturers are having an op-
portunity to introduce their goods
in new markets. Are we doing it,
The present control Of the cotton
goods market of China by Japan is
an index that we have not been dill
gent in looking after our trade. The
theory has been expressed that sud
den changes effected by temporary
causes are not permanent, and will
react. The final outcome determines
whether the center of gravity has
been moved.
The center OF gravity in industry
and finance, summed up, is the net
result OF the various influences which
make for economic production and
distribution. The United States is
not the center! The steady flow Of
raw material to Great Britain and
the continent for manufacture and
distribution around the world is one
OF the strongest spokes in their
wheel. The super-abundance OF
capital and labor has forced Great
Britain to the sea and to other coun-
tries to find employment, while we
have been busily engaged at home
with our own resources. Now. TO
what extent has the center OF gravity
been shifted,-to what extent have
we acquired cosmopolitan attitude.
how soon will American capital
supplied in the form of equipment,
machinery and goods, be sent out to
the world, and with it the skilled
mechanic to instill and educate the
world to call on us for, and to use,
American goods.
South America is only few thou
sand miles south, yet millions OF dol
lars OF merchandise cross the Allan
tic and are then reshipped to Brazil.
Argentina, etc. Our need is vessels
to convey this merchandise, so we
can be Independent of the combines
OF foreign ship owners. A large num-
ber OF vessels have been added 10
the American merchant marine. our
ship yards are constructing. vet the
total is inadequate. Europe is fight
ing their mightiest war. and we alb
solutely dependent upon foreign bot
toms to transport our merchandise.
Cannot the solons OF this great
government suggest remedy. where
by we may compete in some degree
OF equation with the foreign coun-
tries? If this country expects to ac-
quire anything like material leader
ship among the civilized countries
there must be a readjustment of tho
theories and habits to meet the pres
ent conditions. they must discipline
themselves with moral and economic
efficiency. the lesson OF self. control
must be learned and practised. It is
Just as essential for preparedness in
the bureau Of the secretary OF agri-
culture and commerce and labor as
for the war and navy offices. The
predominant idea exists that being
a free country, we are free from all
restraint, but with success depends
largely the cohesion or amalgamation
OF interests, higher regard for the
welfare of the people at large. high
er respect for our local and national
governments, - which, Of course.
means putting individualism second
in the scheme Of things.
Boasting Of our freedom in govern
ment Of church and state,-can we