Evening journal., 1918-06-07
FRIDAY, JUNE 7, 1918.
,N rYr ro FrrrRE rRADE.

,,,,rr nrr rOFvvFNsTEIN WERTHRIi F1ENDkh /
= BrRG who s labors under the behef'that GeihsnS
,u he victorious in this great war. decafesetns' e IN
dn,tes which the Empire viii exact mustsbe mot nS
,a of raw materials rather than with cash. Aller e
80. ,s overr he saws "the German Empire will resemble
rea, store which has sold out its stocks The prince
an. see much use for money by way OF indemnity
,ithout supplies and he suggests that there'pe su
In the peace instrument - be drafted py Nicoi'u
germany that I'VE derplnd portion Of the war m
demuty in raw material and this immeoaleiy' anu p
4 other powers have been supplied.
While no one in this country contemplates that uef-
manv viii come out winner. the Importance wncn
q yoe,venstein attaches to Germanys restocking N.ui
raw materials cannot be overlooked for II indicates u
bss which that country enterans OF reganing its lost
foreign trade through the intensive application OF ner
labor to crude products the finished commodities 10 De
unloaded on foreign markets under system OF price
g cutting ruinous TO her trade rivals Even should peace
81 onen every market in the world" he continues, W would
not prevent the widest competition for raw materia
and food supplies Every cotton spinner VIII susse 70
s obtain quick supply Of cotton hnshsh ana herman
French and Austrian all viii madly struggle for sup
niles And those who in Allies viii be economic
enemies on the markets Il Is for this reason that the
prince ,ould give priority 10 Germany in securing raw
material because he puts IT, in this way we gam
good start over all competitors among foreign NATIONS
without dwelling too much the Princes hopes
for German victory it would be well 10 ponder some
Win, what he has 10 say with respect to the Allies Of
TO-DAY becoming the economic enemies Of tomorrow
Unless this war to change the entire nature OF man
snd make OF the world modern Arcadia era Of trade
competition Is going after peace Is declared the
,re NJ which has never been witnessed before The
limited states need have no Of being squeezed for
,rdemntes: what this country should beware Of is
that the countries Of Europe do not pay the interest ON
their debts and knock off Of the principal out OF
roAt made by extraordinary sales OF goods In the United
States at prices with which It win he absolutely i'm
nosslble for our manufacturers to compete.
Unless all signs fail the prosperity Of the Southern
cotton growers who al present rule Congress with an
,ron hand viii continue for some time after the war,
and cotton. which has immune from price-hxins
during the course OF the will continue to move TO
Furope liz increasing volume for not only will the Allies
increase their purchases but Germany and Austria de-
nuded Of stocks will bid actively against England ana
France But this does not profits or prosperity
for the American cotton textile producers He must
consider the possibility Of having his entire domestic
market swept away from him by flood Of foreign
made goods the 10 produce which Will be iela-
lively much smaller than they were prior to the war;
for whereas in 1913 the ratio Of daily in this
country and in England was about as 81 to ST. after
the war they are apt 50 to sik with dis
parity even greater compared with Germany and Austria
And what applies to cotton and its manufactures will
apply in more or less degree 20 many other raw ma
terias and manufactured products.
But there is to be international cooperation in trade
after the war There will be tariffs eNclsims the
idealist Well let us get back the old American pro-
tecve policy nrst and discuss International altruism
from that vantage At present right where the
European nations would have US. while they work
ing passionatey to consolidate future foreign trade
with more than half an eye the American market.