Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1919-12-03

p
war Amerea's exports have been great
lly simulated and increased prices have
increased their value. On the other
hand. she has purchased large proper
ton of the AmaricAn securities pre-
viously held abroad. has loaned some
V,ooaMe.m to foreign governments and
has built her own chips. Our favorable
balance Of trade has thus been greatly
increased and Europe has bsen deprived
Of the mean; Of meeting 1t heretofore
existing Europe can have only three
Ways Of meeting the favorable balance
Of trade in peace times. by imports into
this country Of gold or Of goods. or by
estabiishing new credits Europe II In
no position at the present time to ship
gold to US nor could we contemplate
large further imports Of god into this
country without concern. The time has
nearly passed for international govern
mental loans and It will take time to de-
velop in this country q market Tor for
eisn securities. Anything. therefore.
which would tend to prevent foreign
countries from settling for our exports
BY shipments Of goods into this coun-
Try could only have the effect of pre-
venting them from paying for our ex-
ports snd therefore Of preventing the
torts from being made.
The productivity OF the country great
ly stimulated by the war must find al
ulst by exports to foreign countries
and any measures taken to prevent i'm
ports will inevitably cuftaii exports.
force curtaiinent Of production. load
the banking machinery of the country
with credits to carry unsold products
ana produce Industrial stagnation ana
unemployment. II We want to sell. We
must be prepared TO buy. Whatever.
therefore. may have been our views
during the period OF growth of Ameri-
can business concerning tariff legisla-
ton. we must now adjust our own eco
nomic l,fe to a changed condition grow
ing out Of the fact that American bust
ness is fun grown and that America il
1.-The greatest capitalist in the world.
Past isolation Period
| 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 if in straight
jacket. must yield and give way to the
needs and exigencics OF the new day In
which We live. day full Of hope and
promise for American business if We
will but take advantage of the oppor-
tunities that are ours for the asking.
The recent war has ended our isolation
and thrown upon US a great duty and
responsibility The United States must
share the expanding world markets.
The United States desires for itself only
equal opportunity with the other ma
ticns Of tho world and that through the
process of friendly cooperation and far
competition. the legitimate interests OF
the nations concerned may be success
fully and eq-:itatly adjusted.
There are other matters Of importance
upon which / urged action at the last
session CT Congress which are Ttill
pressing for solution. am sure it is
not necessary for me again to remind
you that there is one immediate and
very practicable question resulting from,
the war which we should meet in the
most liberal spirit. It Is a matter Of
recognition and relief to our soldiers. !
can do no better than to quote from my
last message urging this very action.
Aid Service Men
I'VE must see to it that our returning
soldiers are assisted in every practi-
cable way to find the places for which
they are fitted in the daily work of the
country. This can be done by develop
ing and maintaining upon an adequate
scaie the admirable organization Great
ed by the department Of labor for plac-
ing men seeking work; and it can also
be done. in at least one very great field.
by creating new opportunities for in
dividual enterprise. The secretary of
the interior has pointed out the way by
VIII CHI returning soldiers may be helped
to fad and take up land in the hitherto
undeveloped regions Of the country
which the federal government has al
ready prepared or can readily prepare
for cultivation, and also on many .:
the cut-over or neglected areas which lie
and l once more take the liberty Of rec.
cmmendins very urgently that his plans
slall receive the Mediate and sub
3 stantisl support of the Congress.
Independence in Dyestuffs
, In the matter Of tariff legislation. !
beg to call your attention to the state.
Ments contained in my last message
urging legislation with reference to the
B establishment Of the chemical and dye
. stuffs 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 cause Of exceptional economi,
disturbance. The close relation between
The Workman