The sun., 1919-10-24

100000 for the same period In 1918.
These are startling nfuresi They
indicate that the FIRST demand upon
America for the goods required by
world endeavoring to put itself back
upon peace footing 10 fully a. great
az the demand which the war itself
made. believe tho exports from the
United States to Europe must rradu-
ally diminish and that the imports into
this country from Europe must gradu-
ally Increase Neither OF these results
should be deplored. The world will be
better on when the wheat fields of
Rumania and OF Russia are made pro-
ductive again for the people OF Europe,
and this country will be better on as
part OF that improved world. More
over. at time when we are complaining
Of the high cost Of living we should
welcome an increase In our imports Of
those things that Europe can make for
US better than we can make them for
ourselves
The net result Of the Gradual de-
crease In our exports and the gradual
increase in our imports must be that
the balance Of trade in favor Of this
country will gradually decrease. But
even with such q gradual decrease there
must still remain for some tia to
come a substantial export balance which
must be settled in one way or another.
We can rely upon the further importa-
ton OF gold only to q limited extent.
Just now It Is vital to the people abroad
to secure our foodstuffs and other
necessities Is It not also clear that
IL Is important to us tn sell our goods
to Europe unless we ore prepared for
violent change In industrial conditions
In this country instead Of having q
gradual return to International eQuilib-
riumf
The central figure in that part Of
tho problem is not the manufacturer
as such, nor the producer of raw ma
terisl as such. nor the banker as such,
but the man who saves. The one funda-
mental thought that we must hold on
to In that while there will be many
minor actors In the great enterprise of
the restoration Of Europe the indispen-
sable man In that enterprise. the hero
OF that enterprise. will be the plain, old
fashioned man who spends less than
he produces and thus creates the fund
without which all OF the plans for res
toration Of Europe must come to naught.
He may be rich or he may be poor.
He may b q banker or q merchant,
, or a school teacher or a wage Garner.
But he must be a saver. For It will
| be true In the future, as It has been
in the past. that there Is only one way
for the capital fund to increase and
| that is by the accumulation of savings"
To NJ. Eugene Schneider. head Of the
Creusot works of France, was confided
the task Of summing up the European
| situation at to-day's conference. He
mixed a fine appeal Of spirit with an
| Illuminating and assuring analysis of
the wave OF Bolshevism.
DoIshevik EVIL Recedes.
He convinced those of his hearers who
later discussed the speech that the peril
/ of Bolshevism in Europe had passed. He
pleaded that Europe had recovered from
worse catastrophes than that Of the
great war and that the recuperative
| spirit that had animated France and
| Italy and Belgium after other oppres-
sions was still present to-day.
He traced the rice Of Bolshevism to
the high strung effort imposed upon
every soul in Europe by the war. The
| war socialized and nationalixed all &C.
tvity under this stress. There grew out
of that, he said. fictitious confidence
In the efficiency Of governmental inter-
ference. When the armistice was signed
there was a universal spirit Of Joy that
the burdens Of war had been lifted and
that victory In itself would bring peace
and happiness and prosperity.
n When peace and happiness and pros
perity failed to appear, he said, the peo-
pie turned to governmental action as the
remedy for the evils from which they
still suffered. That. he said. gave the
Bolshevist and Socialist movement in
Europe It's first strength.
| His final appeal in behalf Of Europe
was as follows: IT the United States
should forsake US the war would be q
stirring and glorious memory. but also
an episode without lasting BENEFITS
something like an uncompleted work. A
merciless economic war would soon
break out, and once more clouds would
gather in that clear and beautiful sky
that should eternally spread over the
cemeteries where our glorious dead lie
| side by side. sharing their glory after
having shared their psrils.
Must Help Each other.
This day that has brought US to-
gether will remain a memorable one
For there will be no real peace. nc
resurrection In the world as II Ii,
the peoples Of the allied and associated
nations do not get into close touch. ex'
change views. compare notes and add the
ties of business to those of sympathy
We serve the interests OF our severa
countries as well as the higher interests
of mankind. We must remain faithful
to the ideal that brought US together
during the war. 80 that when we return
to our countrymen. assured Of your hell
and stronger on account OF your sup
port, we shall repeat the words oul
great French minister Turgot wrote II
1776: America is the hope Of man
kind"
F1orimond Hankar outlined the hope
full position of Belgium with her interna
wealth less impaired than could hav
been imagined. Great BritainT positiol
of self-reliance was outlined goo
humoredly by Sir Arthur Shirley Bonn
and the needs Of Italy and Italy's grea
resources of man power were presente'
by Prof Bernado Attolico. Tonight N
Schneider presented the condition o
France. The speeches Of all were pune
tuated with hearty applause.
The report Of the metals committe
submitted to the conference to-nigh
showed France and italy as the bi
buyers of metals. France will reouir
but 100000 tons Of ship plates and tn
same amount Of copper. more Of the LAT
ter II projects for the electrihcation G
railways are carried out Italys need
win amount to so5.000 tons In all OF pi
iron, plates and shapes. ingots and sem
finished steel and rail. scrap iron. Il
plates. copper and other metals.
In addition TO its expressed belle
that tho petroleum industry can TAX
care of It's own credits the petroleum
committee passed resolution announ'
, ing its readiness to participate In an
general plan that may be worked OF
N..NA