Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-06-22
DESTROYED $3.50. 600, 900, 900.

Destroyed S25O.OOO,Ooo,ooo.
The worlds war. with the destruc
tion of $3.50. 900. 000. 900 of wealth.
leaves every participant ourdeneo
with debt but the United states can
carry her burden better than any
other nation. though Great Britain
is making brave struggle to MAIN
tain her financial reputation.
1t is the United States that must De
the salvation of the civilized world.
Our capitalists must hnd the Way ~ 70
extend the all-needful credit TO
Europe that our great industrial
productivity may find a market Tor
it's wonderful capacity-none 700
great for the needs of Europe. but for
the fact that Europe cannot pay In
cash: she has no manufactured pro-
duct 10 export in volume to offset her
own needs.
sweden set the pace for other
European nations in borrowing In our
market for friendly nations on
strong footing.
Mr.. Dawson of ]. P. Morgan &
Company has the knowledge OF what
Europe needs generally and specin-
cally, next to peace. probably petter
than any other American.
Coordination of the banking. COM
noercial, industrial and manufactur-
ing interests of the entire United
states has been started and will be
carried on to completion until the
has been laid and the structure
raised.
The leading banking men in all the
chief cities will plan for the credits:
the leading men in industries will
give their efforts in the same direc-
ton. and coordination of Europe's
necessities as to credit and capabili-
ties to settlement will also be an
accomplished fact.
American money. American brains
MIL ha
world.
Cooperative Methods Urged.
ing the Chamber Of Commerce, who
said that THE Sherman law or any
other law designed to prevent the
restraint of trade should not be
invoked to prevent the promotion Of
trade by cooperative methods"
The Webb law gives the greatest
freedom in collective work for Ameri-
can commerce, and its availability
should be understood by American
business and manufacturing interests.
Comment on Conditions Abroad.
The Guaranty Trust Company of
New York. in its midmonth circular.
has this to say:
There has recently been comment in
tended to show that the Generalization
caused by four and a half years OF
war was more widespread and more pro-
found than we had known, and that
European countries were recovering
their stability and their productivity
more slowly than might have been ex-
pected. Such view fails to take into
consideration the tremendous nature OF
the burden assumed by the allied ma
lions when they set out to win the war,
nor does it remember that the changed
economic conditions which the war has
brought about mean remoldtng OF
the whole financial structure Of Europe
Until the foundations have been laid
the work that has already been done
will not clearly show itself. And until
the foundations have been laid. also. 1t
will be impossible for the manufacturers
and merchants to make their plans for
the future. The fundamental problems.
however, are being attacked and solved.
Only a few days ago the dispatches
brought word Of the new and more ex-
acting taxation schemes Of both the
French and Italian governments. Upon
this news there was an immediate I'M
provement in the exchange situation
with regard to both countries. The
holiness Of those who proposed and
adopted these new laws indicates not
only the strength Of the governments
which they represent. but also the popu-
lar understanding Of the seriousness Of
the situation and the willingness to
shoulder the responsibility for the only
measures Wnlcn can save II.
Better Travelling Conditions.
Travellers returning from Europe
bring word that the situation in general
Is slowly improving. For instance,
travel conditions, while still far from
normal, are much better than they were
only a month or two ago. Trains are
moro numerous and the schedules are
tn hA
for the actual signing Of the peace
people is visibly improving. Their
natural human optimism Is asserting
ITSELF
Resumption in Europe Of production
drive the United States from its position
az one of the leading export nations.
the review says:
However abnormal may be the pres
ent sale abroad of the goods of the
United States, II Is an abnormality
which will probably continue for some
little time: and readjustment. when 1t
does come. will not restore pre-war con.
ditions. The economic changes which
the war has brought about will not be
obliterated by a resumption Of full scale
production by the Industries of Europe.
A largo American export trade IL q
definite and continuing factor In the
b. worlds affairs"
Local Traction Shares Easier.
Because Of the publicity that has at