Norwich bulletin., 1919-08-09

[ the purpose and the power to do and l to enforce what is right.
 World on Operating Table. Politically. economically, socially, | the world is on the operating table, and it has not been possible to admin | ister any anaesthetic- It is conscious. l It even watches the capital operation | upon which it knows that it's hope of | healthful life depends. It cannot think | its bushes sout or make plans or give | intelligent and provident direction. to i it's affairs while in such case. | Where there is no peace of mind there | can be no energy in endeavor.' Country Lacks Confidence. l There can be no confidence in in dustry, no calcuIable basis for credits, | no confident buying or systematic sell ing, no certain prospect of employ ment. no normal restoration of busi- ness, no hopeful attempt at recon struction or the proper reassembling of the dislocated elements of enter prise until peace has been esta ablished and, so far as may be. guaranteed. Less Disturbed Than Other Nations. Our national life has no douht been less radically disturbed and dismem- bered than the national life of other peoples whom the war more directly affected, with all it's terrible ravaging and destructive force. but it has been, nevertheless, profoundly affected and
 
 credits, our productive capacity. our economic processes are ineXtricably interwoven with those of other nations and peoples-most intimately of all with the nations and peoples upon whom the chief burden and confusion of the war fell and who now most dependent upon cooperative action of the world.
 Enormous Exports.
 We are just now shipping more goods out or our ports to foreign mar- kets than we ever shipped beiore-not roodstuffs merely, but stufIs and ma terials of every sort: but this is no in dcx of what our foreign sales will con tinue to be or of the effect of the vol- ume of our exports will have on sup plies and prices. It is impossible yet to predict how far or how long foreign purchasers will be able to find the money or the credit to pay for or sus- tain such purchases on such scale, how soon or to what extent foreign manufacturers can resume their for mer production, foreign farmers get their accustomed crops from their own fields. foreign mines resume their former output, foreign merchants set up again their old machinery of trade with the ends of the earth. All these thiRgs must remain uncertain until peace is established and the nations of the world have concocted the meth ods by which normal life and industry are 10 be restored.
 Must Restrain Profiteerins.
 All that we shall do. in the mean time, to restrain protiteering and put the life of our people upon tolerable footing will be makeshift and pro- visional. There can be no settled com cern of our government and of the other governments of the world. Until then business will inevitably remain speculative and sway now this way and again that, with heavy losses or heavy gains, as it may chance, and the consumer must take care of both the gains and the losses. There can be no financial and economic system is on a war basis.
 Dilemma of Europe.
 Europe will not cannot recoup her capital or put her restless. distracted peoples to work until she knows ex actly where she stands in respect of peace; and what we will do is for her the chief question upon which her quietude of mind and confidence of purpose depend. While there is any possibility that the peace terms may be changed or may be held long in abeyance or may not be enforcod be- cause of divisions of opinion among the powers associated with against Germany. it is idle to look for perma- nent rel-
 Great Deal That We Can Do.
 But what we can do we should do,
 
 great deal that we can do. provis- ional though it be. Wheat shipments and credits to facilitate the purchase of our wheat can and will be limited and controlled in such a way as not to raise but rather to lower the price | of flour here. The government has the power within certain limits. to reg .ulate that We cannot deny wheat to foreign peoples who are in dire need of it, and we do not wish to do so; but, fortunately. though the wheat chop is not what we hoped it would be, it is abundant if handled with 1 provident care. The price of wheat Is l lower in the United States than in Europe, and can. with proper man. 1 agement, be kept so.
 For immediate Relief.
 By way of immediate relief. surplus l stocks of both food and clothing in i. the hands of the government will Ee 1 sold, and of course sold at prices at :: which there is no profit. And by way 1 of more permanent correction of | prices surplus stocks in private hands | upon the market.
 Hoardins Can Be Prevented.
 Fortunately, under the terms of the | stuffs can be checked and prevented: | and they will be. with the greatest en- ergy. Foodstuffs can be drawn out 1 of stora ge and sold by legal action X which the department of justice willf institute wherever necessary; but so8 ly dealt with, 1t is not likely that the3 courts will often have to be resorted | to. Much ofSsthe accommodating of | stocks has no doubt been due to the sort of speculation which always re- --