Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1918-03-03
ECONOMIC OUTLOOK
AT TER WAR IS OVER
Free Trade Only Method to Raise Revenues War Levels
Noted Writer Cites Great Britain as Example of
That Means of Providing Funds.

tempted ito hout the league is likely
to be the sanction on which the pro-
motors OF the league will have to rely.
The alternative on this case also Is
simple: materials and goods withheld
from the offending country with promDt
undiluted severity by way CT contrast
10 access to these supplies during good
behavior.
In future we must rim no risks which
are avcidablc OF finding ourselves WITH
out essential materials of defense
That Germany should be able by cut
ting off supplies OF any commodity, TO
involve our greatest industries in
paralysis, or to deprive our arms Of cS-
plosives or other material. is u peril
CT which recent experience has taught
us to keep clear. In the past. We All
with ona accord dealt with battleships
torpedocs and guns on an exclusive
and not on a free exchange basis. We
Kept the industries of naval and milf
boldly and lavishly for inventions. de-
signs. plant, stan. machinery, build
'hss To that extent, and within those
cateSories. there was no offenss
against the practice CT free exchange I'm
commerce. This was n sphere outside
of fiscal controversy. II we do not
una ourselves in =. stable world after
inns war we Hhali still have to provide
io- armament end ornaments now
'.oaNS include greater variety OF
AFTER-WAR REQUIREMENTS
TAKE OVER ARSENALs
The chief requirements will include
oesides the numerous articles OF pre-
war days. trinitrotoluol and the whole
group OF aniline explosives Speciol
treatment for them and ARRANGEMENTS
ior their regular production or means
or production must accordingly be de-
Eiseu IN the same way that we have
mad to keep Woolwich going, or take
ever as national concerns the greater
private arsenals. Explosives and dyes
come from the same works.
There may be other key industries
Tor which special treatment is essential
fspelter is one OF them). but we can
not compile our list now Alrendv
numberless business men are prepared
to show the world that theirs arc key
industries, and they ask for special
exemption from our fiscal rules Men
who have never read IA chapter OF
Aca Smith are already repeating his
sentence on opulcnce and defense, and
are imploring their political friends to
regard 1t as their guide in every par.
ticuiar trade! How natural this Is. and
now easily capable of all the unsccmly
practice OF tariff parliaments. Tho
number OF special cases will have to be
ruthlessly restricted.
One of the methods adopted by the
present government to foster British
trade has been plainly described by u
minister during the debates Ell an
otherwise trivial measure called the
nonferrouS metals BILL This now
method is to prepare through Parlla-
nent the ground for the erection Of
big corporations formed under govern
ment patronage. Competitors are 10
be wiped out If they had the remotcst
connection with what are now enemy
peoples. and ministers have frankly
told the House OF Commons that their
main object is to create by legislatiou
conditions without which the syndicate
declines to operate. The incubatine of
something like a trust or combination
or the German or American type Is n
pernicious device in Reconstruction"
DUMPING OF GOODS on
MARKET NOT INJURIOUS
The dumping OF goods in this coun-
Try is not likely to DO harmful Let us
suppose sugar is TO be dumped hero
would object to its arrival, not even
those who forced up the price of pota-
Toes last autumn. nor would the mil
lions OF housewives who have paid sd
10 81. per pound for two or three years
ana failed to buy at that or any other
price, all that they wanted The mil
lions should not be deprived of cheap
sugar. even il it be dumped II hard
ware is dumped, would say at once.
let 1t come. The housewife must moi
f'S'SHtSu from FC-cQOlpDtng her
kitchen or her sitting room. or her bod
rooms with even dumped pots and pans
and chairs and beds. If she wants them
"o nave yet to learn that Germany
has large stocks OF anything TO ex-
port, for with few exceptions her cum
board Is bare. and her industries are
stripped Of labor more mercilessly than
ours. In the period OF want, scarcity
and poverty which will afiict half tho
world When the war is over, woe be-
tide the minister who would on am.
ground deprive British purchasers OF
goods or material or food which may
be Offered to our merchants at any
price. however low.
Up to the present have heard of
NO better rule than that FREQ traders
an" all prudent statesmen must pre-
vent any and every attempt to impose
any import charge or to inlict any ar
titcial price on the consumer If tho
British consumer is never prcventel
from drawing what he needs from am
market. whether at home or abroad
we shall not be seriously afflicted win
if,if