Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-12-02

in peace times: BY imports into this
country of gold or of goods, or by
establishing new credits.
Europe Can't Ship Gold
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
without concern. The time has nearly
passed for international governmental
loans and it will take time to de-
yelop in this country market for
foreign securities.
Anything, therefore, which would
tend to prevent foreign countries from
settling for our exports by shipments
OF goods into this country could only
nave the effect of preventing them
from paying for our exports and,
therefore, of preventing the exports
from being made.
The productivity of the country,
greatly stimulated by the war, must
lind an outlet by exports to foreign
countries, and any measures taken to
prevent imports will inevitably curtail
exports, force curtailment of produc
ton, load the banking machinery of
the country with credits to carry un-
sold products and produce industrial
stagnation and unemployment.
If we want to sell, we must be
prepared to buy. Whatever, there
fore, may have been our views during
the period of growth of American
business concerning tariff legislation,
we must now adjust our own economic
life to a changed condition growing
out of the fact that American bust
ness is full grown and that America
tbp prputpCt pu nit "a liSf in bn ,t,nrlH
Isolation Policy Antiquated
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 a
straitjacket, must yield and give
way to the needs and exigcncies of
the new day in which we live, day
full of hope and promise for Aneri-
can business, if we will but take ad-
vantage of the opportunities that are
ours for the asking.
The recent war has ended our isola-
tion and thrown upon us great duty
and responsibility.
Must Share in Trade Expansion
The United States must share the
expanding world market The United
States desires for itself only equal
opportunity with the other nations
of the world and that through the
process of friendly co operation and
fair competition the legitimate inter
ests of the nations concerned may
be successfully and equitably ad-
justed.
There are other matters OF impor-
tance upon which / urged action at
the last session of Congress which are
still pressing for solution. / am sure
it is not necessary for me again to
remind you that there is one i'm
mediate and very practicable question
resulting from the war which we
should meet in the most liberal spirit.
1t is matter of recognition and
relief to our soldiers. / can do no
better than to quote from my last
message urging this very action:
Assist Returning Soldiers
''We must see to it that our re-
turning soldiers are assisted in every
practicable 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
bCdlt Tile ere
ated by the Department of Labor for
can also be done, in at least one very
great field, by creating new oppor-
tunities for individual enterprise.
'"rhe Secretary of the Interior has
pointed out the way by which return
ing soldiers may be helped to find and
take up land in the hitherto unde-
veloped regions of the country which
the federal government has already
prepared or can readily prepare for
cultivation and also on many of the
cutover or neglected areas which lie
within the limits of the older states
and | once more take the liberty of
recommending very urgently that his
plans shall receive the immediate and
substantial support of the Congress. -
In the matter of tariff legislation,
l beg to call your attention to the
statements contained in my last mes
sage urging legislation with reference
to the establishment of the chemical
and dyestuffs industry in America:
among the industries to which
special consideration should be given
is that of the manufacture of dye
stuffs and related chemicals. Our
complete dependence upon German
supplies before the war made the in
terruption of trade a cause of excep-
tional economic disturbance.
Chemical Industry Important
"The close relation between the
manufacture of dyestuffs, on the one
hand, and of explosives and poisonous
gases, on the other, moreover, has
given the industry an exceptional
significance and value.
although -the United States will
gladly and unhesitatingly join in the
program of international disarma
ment, 1t Will, nevertheless, be q poll
ley of obvious prudence to make GER
tain Of the successful maintenance
OF many strong and we'll equipped !
chemical plants.
The German chemical industry,
with which we will be brought into
competition, was and may well be
again, thoroughly knit monopoly
capable of exercising a competition
of a peculiarly insidious and danger
Gus kind"
During the war the farmer per-
formed a vital and willing service
to the nation. BY materially in
creasing the production of his land
he supplied America and the Allies
with the increased amounts of food
necessary to keep their immense
armies in the field. He indispensably
helped to win the war.
But there is now scarcely less need
of increasing the production in food
and the necessaries of life. / ask
the Congress to consider means of
encouraging effort along these lines.