The Washington herald., 1919-04-06
CONTINUED FROM PAGE ONE.


the United States. Now other coun-
tries-South American countries. say
produce a surplus of food. But
they buy nothing from Europe: Eu-
rope owes them nothing; there is
no reason why Europe should trade
with them. And there is strong
reason why Europe should trade
with America. For time Europe
will not be able to pay us for food I;
she has neither oods nor money. We
shall have to trust her. That will
require a rather elaborate financial
system, great international bank.
The French have worked out this
plan. This bank will be a greater
assurance OF peace than the allied
armies and navies-and incidentally
it may become a more acute cause
of war. For at least a decade, un-
til Europe is rebuilt. into this bank
must come the worlds trade bal
ances-always in favor OF the United
States, and from IT must come some
sort of guaranteed paper for the
payment of the worlds debt, the
running account of the world with
Uncle Sam for the months grocery
apd meat bills. Now this bill of the
world is of some concern to tho
American banker, but. it is of vastly
more CONCERN TO the American
farmer.
European promises to pay may or
may not be valuable.
The American farmer. while those
promises to pay are pending and
floating about in the worlds strong
boxes. has parted with his cattle
hsa Nd a., Z. he
farmer will have for his goods some
Americanized form of the European
promise to pay. But II Europe does
have to pay. maybe there will be
the devil to pay-which is war. But
when IL is all done the land will foot
the bill, some way.
Now the only thing which can
keep the American farmer from get
ting his money finally. is war. He
can afford to sacrifice much for
peace. whether he likes it or not,
he is forced into provisioning the
world! Whether he likes 1t or not
he will have to receive for his work
some sort of a promise to pay guar
anteed by the brokers who sell the
goods They have little back OF
their guarantee. They are betting
on peace for 100 years to come, 70
clear up the debt. Peace Is the hope
of the man who gets out at dawn
to swill the pig that makes the
grease to fill the bellies that build
the bodies that make the millions
that establish the Industries that
strengthen the nations in this elab-
crate house of cards that all the
Jacks of the world are building to-
day.
Prices TO Be Secure.
Given peace and for a dozen years
the prices Of the American farmer are
secure. 1t will be five years before
the herds of Europe are restored. 1t
will be ten years before the Industries
of Europe are able to feed themselves
and provide their own raw materials.
And order depends on food. Food de-
pends on stable prices. and stable
prices depend upon some sort of in
ternational agreement to guarantee the
farmer a fair price for his work. Also
international agreement ON com
mcrcial lines depends upon interna-
tionaI agreement on political lines
the league of nations-the whole thing
is kind of benevolent circle. Good
will is the ccmtripetal force which
vii, keep the circle intact,
Now the average man, when he Is
asked about a league of nations. has
always two reactions. First. he
agrees to It off-hand; then when he
stops to think the matter over. to
consider for instance his Monroe Doc
trine. If he is an American; his Brit
ish naval supremacy. If he is an
Englishnan, or his German menace II
he is FrenCh-that is to say, when he
begins to count the costs of peace. he
balks, SHES and shifts the air. Fin
ally he comes to the conclusion that
ones secondary rights are always the
price one nRst pay for primary free
dom. So the average man. confronted
long enough with the idea Of the