Evening journal. [volume] (Wilmington, Del.) 1888-1932, 1917-02-14
EuRopEAN MANrrACTuRERs PREpAREp.

~ OR many months the public has been RECALLED with
optimistic forecasts OF continuing prosperity
In export trade when peace in Europe has been re-
stored. President James a. Farrell, OF the United
states steel Corporation in a recent address before
the National Foreign Trade Council estimated that
s5o00oooooO worth OF property has been destroyed in
Europe by the This il is argued VIII have 20 be
replaced and there will be huge demand on the
United States for building materials machinery etc.
AS the end Of lighting viii find the European powers
short OF the materials needed in manufacture an
draft will be made this country FOR such
raw materials. ms metals, cotton lumber, etc.
No doubt this prophecy will find fulhlment and
those who have building materials machinery, metals.
cotton and lumber TO sell will reapng rich
harvest profits until Europe finds itself rehabated
which, under system Of government credits will not.
take great while to accomplish.
But in all this discussion relative to our postwar
export trade little attention is paid TO the prob
able effect tho prices OF such materials to our
manufacturer. With the restoration Of peace there
Will be terrific slump IN exports OF cotton and
wooden goods explosives metal manufactures used
purposes and other products OF munltlon charac
ter, hence decided curailmeut OF profits in these
lines. or course readiustment. reorganization. and
retrenchment will follow in The effort TO set back 20
normal basis.
But with vast oonsignments OF building and manufac.
turing materials going abroad taken from domestic
supply the prices OF such products here WILL until
shed remain At high level For instance Il is ex-
tremey improbable that cotton textile mills will
be able contract for cotton FOR future delivery
anything like normal figure for considerable period
following the declaration OF peace Naturally the high
price OF their raw material will have a decided nHu-
the price az which they dispose OF their
goods at profit; and again, the present ahnormally
high wages which being paid worlmen in the cot
ton mills will have 10 undergo iack-screw instead OF
windlass method OF lowering.
But the manufacturers OF Europe are not going 10
wait until they fully resocked with materials
before firing the boilers Reports from all Europe
indicate that they ready to begin operations at
maximum just soon as they have the materials on
which to work In tho meantime, our manufae-
turers Handicapped by high cost OF materials. and
abnormal wage scales. viii Europe stripped FOR
action gaining and retaining commanding lead I'm the
American market for manufactured goods unless steps
are taken 70 curb her impeuosity No tariff law such
as The present one with its average rate Of duty OF
pel cent will perform that Office.
ms country must return TO the protective policy,
~ mat speedily, whether the Democratic party likes
- nut and as their continued denuncatiou of that
Hs nnul0ates that the Democrats hate il the he
So. plV must be tho trustee for the commercial
sae| Oh TINS nation The party that decries protac
u0n cannot frame proper law