The sun., 1919-03-29
]. H. PERKINS URGES
HELP FOR EUROPE
Pleads for Importing to the
Limit Into U. 8. at Bond
Club Luncheon.
ASKS FOR LONG CREDITS
Hloomily Describing Condi-
lions Abroad, Declares We
"Must Get in Came"

a plea TO the merchants, business men
ana bankers OF the United States. not
snly to import into this country from
Europe everything that can possibly be
imported. but to arrange to advance
privately very large and very long cred
Nc, was given yesterday at the monthly
luncheon Of the Bond Club In the Bank
srs' Club by James II. Perkins. Vice.
president of the National City Bank,
who drew a dark picture Of European
conditions. Just as Europe came to the
aid of the United States In the black
days before rsadjustment got under way
followinG our civil war, the bankers OF
this country must come to the rescue OF
Europe as speedily az possible. was the
opinion of the speaker. who returned
recently from the service, In which he
served with the rank OF Lieutenant-Col-
onel as chief OF star Of the army which
entered Coblens.
Talking about the condition Of the
customer abroad, 10 whom tbs bankers
are planning TO extend credits. Lieut.
Col Perkins said;
Europe owes us in the nsighborhood
Of ten billion dollars to-day. We have
bought back from Europe of our own
stcurities that before the war were TAX
Ing to them every year probably two
hundred and nifty million dollars in In
terest. Those are now on this side. 30
that. roughly speaking. IN interest alone
Europe has lost during the war the
possession of approximately S7Bo,ooo,ooo
year. That Is fxed charge that 10
right out OF them TO start with. In ad-
dition to that the depletion OF raw ma
terials 10 such that they must call on
VI, The balance Of trade. as I see Il.
must be in our favor for at least I'VE
years to come.
1--WE are the bank. as II were those
are the fellows that we are going to DO
business with. II is not a credit state
ment that will look very we'll to the or
binary banker in his own business A
manufacturing concern with a condition
OF that kind would not be looked upon
with favor. and I think there is a very
strong feeling throughout the United
States that Europe IL a busted outfit
that we are prosperous, that we will
Just let them do as best they can. We
are going to finance Europe to a very
large extent. We are going TO DO bust
ness with Europe to very large extent.
and we are going to start right IN sdu-
eating our people to that idea.
TN the second place the only way IN
which We can do business with them is
for our country to become educated to
the idea that we will buy European Sc
curities when, as and II they are prop
erly set UP. and we can only do business
when they are properly set up.
'For anybody in this country to say
that we can enjoy continued prosperity.
with from 4o0,000,0 900 to 500, 600, 900
people In what has been approximately
the centre of civilization Of the world.
living In a condition OF want or a con-
dillon Of anarchy. a condition of un-
rest, Is absurd. It is exactly like bury
Ing your head IN the safid and not ses-
ing what goes on around you.
TT Is absolutely vital for the United
States to get into this game. I have
absolute confidence In the ability OF the
American business man to solve q
problem II he will tackle Il. do not
think the American business man as ye,
will tackle our international problem
az he would tackle the homo problem
but It Is q vital matter"