Imperial Valley press., 1917-12-06
HUGE SUPPLY.
COIN NEEDED.
TO RUN WAR
AlnAsr ~ + p
(By Associated l'ress)


New York, Dec. 6.-American in
dustries must be stimulated to high
production and Americas foreign
trade must develop to enable this
country to use its full strength in
winning the war, declares the Ma
tlonal Foreign Trade Council in re-
port submitted today to President
Wilson.
practically all the money in the
Allied portions of the world, and most
OF that held by neutrals, in time, can
be made available for our war emer-
gencies if our production constantly
provides a proper basis for foreign
trade" says the Council.
The report was prepared by Lewis
E.Pierson, chairman of the board of
directors of the Irving National Bank
of New York. 1t will be submitted
to the ways and means committee of
the House of Representatives and to
the finance committee of the Sem
ate.
1t was drawn up in an effort by
the Council to aid the government in
the fixing of commodity prices and in
the taxation of business profits. These
problems are described by the council
as perhaps the most serious and diff
ficult the government has ever en-
countered in its relation to business
interests.
Asserting that in an ideal plan for
price fixing and profit taking, high
production and not low prices should
be the controlling consideration, the
report says:
'If the final determination of the
war is to be measured to any consid-
cradle extent by the relative economic
power of the belligerents-a of
course, it will be so measured-the ex-
istence Of the things which money can
buy will be Of far greater Importance
than the possession of money ITSELF"
That leads up to the statement that
most Of the money in the Allied and
neutral world can be made available
for our war emergencies by proper
maintenance of foreign trade. For it
is foreign trade, says the report,
that "is the source from which the
greater portion of our gold must come,
and from which our national gold re-
serve will derive it's greatest security.
Foreign trade also provides the pos
sibility of keeping the ntire national
energy at all times employed in prof
table production by creating foreign
demand for products for which there
would be no demand at home.
Effectiveness of American partici-
patton in the war, says the National
Foreign Trade Council, demands the
maintenance of production in practi-
cally all lines at the maximum ca
pacity, and the maintenance of foreign
trade during the war is most ef-
ficient means of preventing disturb
ance of credit, insuring funds with
which to meet the needs of govern
ment in taxation or loans; stabilizing
conditions of industry and maintaining
the economic structure of the nation.
For these reasons the council rec
ommends to the administration and
Congress the coordination Of its eff
forts at price fixing and taxation upon
principles that will stimulate produc-
ton, insure the fullest maintenance of
foreign trade and so provide steady
source of funds for the vigorous pros
ecution of the war. The "only really
big thing in the world today" con-
tinues the report, "is to win the war;"
In winnin gthe war, the big things
apart from securing the fighting men,
are "to produce and conserve" In