The Alaska daily empire., 1919-10-29
FOREIGN TRADE AND DEBTS

Ono of the disturbing elements of the present situation in the United States and one that is con tributng to the high prices and living costs nere ID the fact that this country has not only been ihah ing Europe but she has been feeding and supplyihs the other needs of that continent. The balance ol trade in favor of the United States in the last SIX years has reached the enormous total or about TIT teen billion dollars, and that is being increased at rate exceeding s4OO, O,ooo0oo a month
 A conference was recently held at Atlantic City, calsed rt,r nhe Chamber of Commerce of the United States to this situation at which financfers and business from Europe were present It is admitted that the situation is becoming menacing. It is particularly because we have had to lena Europe most of the money required to purchase so heavily and therefore her interest debts becoming enormous must be added the $4O0 O00000 or $500 GOO 900 expends in this country monthly for our products in of what she sends to us
 President James S. Alexander of the National Bank of Commerce of New York urged in address to the Atlantic City conference the necessity of meet ing this condition Among other things he urged the resumption of work by Europe in manufacturing for home and export and additional importa- tions by the United States from Europe. It is i'm perative that this should be commenced at once, he contended so that Europe would be able to pay for her purchases and her interest to this country with out such heavy borrowing, which only increases her debts and continues to make the tax American production.
 In the meantime, of course, relatively the United states sxgainipg on Europe at an. enormous rate Th&i con henE wifi prRaNy not be able to pay her detk to mettca8 Nforgafany years, but our people wait < kA kast ahN the Ascurity is good for fur her increases 1ih the debts tfis country.
 tThe Treasury Department of the United States has already notified the represenatves of foreign countries and European and American bankers that the American Government cannot continue finance Eufpbe,- but that the trade gbetween Europe and America must be arranged by business men on business basis
 President Alexander urges, the for the situation, first of all in Europe and America, work and save" He contends that every people on the face of the world should increase it's production maximum, and that everybody should save every dollar possible. He urges, further, encouragement by financial institutions to industries and inia- tive everywhere. He approves of the suggestion by the United States Treasury Department that the fi- naacng of Europe be arranged by private citi- zens business basis. and that the time has come for our Government to financing the world It is time for people to begin depending upon their own initiative rather than governmental assistance
 IL is admitted, of course, that American bankers must see Europe through. She is best custo- mer and our heaviest debtor We must see that the peoples there do and that they do not go bankrupt. but they must their affairs on a bus ness basis, basis that will spell sovency and show us that the credits there worth 100 cents on the dollar