The Tomahawk., 1919-12-11


balance of trade has thus been great
ly increased and Europe has been de-
prived of the means of meeting It here
tofore existing. Europe can have only
three ways of meeting the favor
able balance of trade in peace times;
by imports into this country OF gold
or of goods. or by establishing new
credits. Europe is in no position at
the present time to ship gold to us nor
could we contemplate large further
imports Of gold into this country with
out concern. -
America "Greatest capitaIist.s g.
The time has nearly passed for In
ternational governmental loans and it
will take time to develop in this coun-
try a market for foreign securities.
Anything therefore which would tend
to prevent foreign countries from set
tling for our exports by shipments OF
goods into this country could only
have the effect OF preventing them
from paying for our exports and there
fore of preventing the exports from
being made. The productivity of the
country greatly stimulated by the war
must find an outlet by exports to
foreign countries and any measures
taken to prevent imports will newt
ably curtail exports, force curtailment
of production, load the banking ma
chinery of the country with credits
to carry unsold products and produce
industrial stagnation and unemploy-
ment. If we want to sell, we must be
prepared to buy. Whatever therefore,
may have been our views during the
period of growth of American busi-
ness concerning tariff legislation we
must now adjust our own economic
life to a changed condition growing
out of the fact that American business
is full grown and that America is the
greatest capitalist in the wcrld.
No policy of isolation will satisfy the
growing needs and opportunities OF
America. The provincial standards
and policies of the past, which have
held American business as il in a
straight-jacket, must yield and give
way to the needs and exigencies- OF the
new day in which we live, a day full
Of hope and promise for American
business if we will but take advantage
of the opportunities that are ours for
the asking. The recent war has ended
our isolation and throws upon us a
great duty and responsibility. The
United States must share the ex-
panding world market. The United
States desires for itself only
equal opportunity with the other ma
tions Of the world and that through
the process. of friendly cooperation
and fair competition the legitimate in
terests of the nations concerned may
be successfully and equitably adjusted.
4 Soldier Relief Advocated.
1--WE must see to 1t that our return
ing soldiers are assisted in every prac-
ticable way to find the places for
which they are fitted in the daily work
Of the country. This can be done by
developing and maintaining upon an
adequate scale the admirable organiza-
tion created by the Department OF
Labor and placing men seeking work;
and it can also be done, in at least
one very great field, by creating new
opportunities for individual enterprise.
The Secretary of the Interior has
pointed out the way by which return
ing soldiers may be helped to find and
take up the land in the hitherto un-
developed regions Of the country which
the federal government has already
prepared or can readily prepare for
cultivation and also on many Of the
cut over and neglected areas which lie
within the limits of the older states;
and I once more take the liberty of
recommending very urgently that his
plans shall receive the immediate and
substantial support of the Congress"
Dyestuff Protection Urged.
In the matter of tariff legislation, I
beg to call your attention to the state
ments contained in my last message
urging legislation with reference to
the establishment of the chemical and
dyestuffs industry in America.
Among the industries to which spe-
cial consideration should be given is
that of the manufacture of dyestuffs
and related chemicals. Our complete
dependence upon German supplies be-
fore the war made the interruption of
trade a cause of exceptional economic
disturbance. The close relation be-
tween the manufacture Of dyestuffs, on
the one hand, and of explosives and
poisonous gasses, on the other, more
over, has given the industry an excep-
tional significance and value. Al
though the United States will gladly
and unhesitatingly join in the pro-
gram of international disarmament, it
will be policy Of obvious
prudence to make certain of the sue
cessful maintenance of many strong
and wellequipped chemical plants.
The German chemical industry, with
which we will be brought into compe-
tition, was and may well be again, a
thoroughly knit monopoly capable of
exercising competition Of peculiar
ly insidious and dangerous kind.
Farmers' War Work Praised.
During the war the farmer per
formed a vital and willing service to
the nation. BY materially increasing