The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1919-07-08

mental picture of the enormous loss of wealth
represented by the manhood loss.
1.-The first question before mankind is food, as
usual The peoples live from hand to mouth even
in times of peace. They are now living on stint /
ed rations in Europe. Only few nations are for
tunate, enough to have a food surplus. This sur
plus is going to feed the hungry war nations, and
in the process the war nations are going still
deeper into debt England is one of the most
thrifty and resourceful of all nations and yet the
balance against her is piling up in this country
because of the unavoidable necessity of filling up
some of the gaps of war. One-half of the man.
hood of England that went to the front put
out of action. That is stroke that cannot be !
cured by conference of diplomats, however in
spired. Time must do it's work.
"The war burned up wealth. The nations stay
ed on a 100 per cent basis as long they could
and then went sliding down the inevitable slope
toward bankruptcy. Their borrowing power dim
inished their needs increased, double handi-
cap, that deprecated their money, raised the in
terest rate, ate up remaining securities and COM
PEELED them to issue paper money secured only by
hope. The currency situation of Europe is very
bad, indeed, in spite of all the wonderful vigor
which the United States has lent to the allied
nations Without American aid the allies, even if
ultimately successful, would have been banlrupts
and would have been forced to remodel their sys-
tenn of existence. AS matters stand, some of the
allies will be compelled to take in sail, despite
their pride and their ardent wish to stand where
they stood in 1914. They are not so strong as
they were then, and must fall back somewhat
in the line of nations.
! Europe is crater which must be filled if the
J
level Immense enterprises throughout the world
are dependent upon the stability of Europe. The
United States, as creditor of all the allies is deep
ly involved. This government would not become
nsolvent if Europe should fail to pay its war bor
,rowings, but the failure to pay would be symp-
tom of entire collapse which would speedily bring
on worldwide panic. The United States would
not escape, matter how prosperous conditions
here might be, no matter how urgently Europe
called for food, clothing and other materials or
how high the prices she paid.
! There is world initiation of money which
has destroyed the old-tme values. This infla-
! ton affects the United States and the American
dollar. The necessity for more dollars has
! brought them into being, and now they are rela-
lively more numerous and less desirable than the
things they buy. Accordingly labor food and
everything else that can be exchanged for money
commands more of the abundant money than it
formerly commanded of the scarce and more de-
sirable money.
"The process is still at work and probably will
continue for year more Money will be more
plentiful than ever, and accordingly not quite so
:, valuable. 1t will take more dollars to buy any,
thing purchable. Enterprise will be more active
than ever. Production will be stupendous in vol
ume. The country will leap forward in every ma
terial way as it strains every nerve to meet the
demands of the world Then there must be an
other adjustment as the level of demand is ap-
preached and the needs of Europe met. Money
must eventually be brought back toward its old
! level, which means that prices and wages must
: diminish relatively Whether this adjustment
= will be gradual and safe or abrupt and calamtous
will depend largely upon the common sense and
foresight of America"
= SPEAKING OF ZERO IN CONSOLATION
- Anaconda Standard
: Cheer up! Senator PondeXter the country
n long he lives.