The Washington herald., 1919-07-17
CROPS WIPE OUT
BIC war COSTS
No Other Country but U. S.
Has Such Record, De-
clares Holland.

When Secretary of the Treasury
Glass caused to be published a de-
tailed statement Of the aggregate in
debtedness which the war has caused
the United States, the Department of
Agriculture issued q bulletin contain
ing the government estimate OF the
food crops in the United States at
harvest time in 1919.
Secretary Glass probably realized
that the new wealth which will fol-
low the harvesting and marketing Of
our food crops will be more than
sufficient to meet the aggregate war
debt OF the United States. He made
no reference to that source Of In
come. probably because II Is some
thing that the Treasury Department
cannot ofhcially recognize. Accord
ing to the Secretary's estimates the
war has cost this country, after de-
Quoting the debt Europe owes to the
United States government. approx
mstely $500 10000.
II the estimate of the aggregate
food harvest in the United states
this year which the Department of
Agriculture has published be Justified
by the event. then 1t is reasonable
to assume that the new crops when
marketed will. II the money which
IL received from these crops be made
available for the purpose, be SUM-
cent to wipe out our war debt
No other country can make a show
ing of this kind nor Is 1t probable
that even Great Britain. with all her
resources at home or in her colo
mics. could harvest and market >r
Ave successive years an amount which
in the aggregate would be equal to
or greater than her war debt
Governments Crop Estimate
When the Washington estimate was
published of the wheat crop. as II
gave promise Of being when harvest
ed, the intimation was strong that
It might reach I. so. 900. 600 bushels. But
in some parts Of the country the
weather has proved Favorable,
causing the Department OF Agricul-
ture to report an estimated falling
OF in wheat production. Neverthe-
less. we are to harvest L.l0o.ooo,0oO
bushels of wheat and that will be
in excess Of our own record or the
record made by any other wheat
producing country.
Banks Help Recent Idea
Not until recently has there been
heard any suggestion that bankers in
the large financial centers would be
called upon so to act in crop harvest
ing times as to make 1t possible for
the farmers to secure the funds with
which to move their crops from the
fields to the market Financing the
crops was one of the important sea-
sonal undertakings after we became
a great wheat-producing nation, for
which the bankers in the large fl
nAneisl centers began to prepare in
80 ste spring. Now. however, IL the
bankers are preparing to provide
funds with which the crops may be
moved they are making no fuss about
n They are acting On cooperation
10 that large loans may be made to
Canada. South America and to other
countries.
Enormous as will be the harvest of
food commodities in 1919 1t is only oc-
castonafiy that we hear hints OF the
possible necessity of the banks OF the
great financial centers being called
upon to lend money wherewith the
crops can be financed.
The magnitude of crops and their
flourishing conditions are visible tc
the eye. One citizen of New York
who has recently returned from the
West says that the wheat fields In
the Middle West are one golden glow
awaiting the harvesters And the
other grain fields look equally prom
Using. HOLLAND.