Harrisburg telegraph. [volume] (Harrisburg, Pa.) 1879-1948, 1919-03-21
OPTIMISM PREVAILS

" HERE is a spirit of optimism
prevailing among the leaders of
industry and commerce in the
United States, which is based upon
substantial realities. The war de-
stroyed. vast amount of capital,
observes one of the great banking
institutions of the country, but the
productive capacity of America is
greater than ever before. This is
true of England, Canada and
Japan, but continental Europe is
sadly handicapped by the ravages OF
war and the loss of manpower. This
authority on world conditions be-
-lieves it is probable that France is
in better shape than is commonly
believed, but cannot resume produc-
tion to the best advantage until
she has settled with Germany what
the latter shall pay. Belgium is in
a similar position. Emphasizing this
view of the situation the authority
in question says
The recuperative power of civ
iliZcd countries is astonishing.
Two good crop years, accompanied
by a general resumption of
industrial life, will restore the
prosperity of the plain peo-
ployment for all. Capital cannot
be SO quickly replaced or restored,
but America is so rich that there p
will be no lack of money and
credit for productive enterprises.
Up to the end of last January, the
latest date for which returns are 10
available at this writing. Our for
eign trade remained undiminish-
ed, January being the best month
in our history.
How much more business we
could have done had we been able
to secure enough ships is con-
jectural, but it would have added
vastly to the total of our foreign
valued at s100.000.000 is lying in
rhe port of New York awaiting
transportation to other lands.
o,lin Enterprisinig grovad manhdqcturers ahnn nrer
tices and facilities will offset
high wages and enable America
to compete succe ssfully with Eu-
rope in open markets. AS far as
the world is concerned, no bur
densome surplus of raw materials
or manufactures exists. Other
countries require all that we can
spare for export. and the Fed
eral Government and our business
men must address themselves to
the task of distribution. French
and Belgian buyers are in our
markets for machinery, machine
tools, railroad equipment and raw
materials. Foreign business men
are not as inclined to hold off for
lower prices as are Americans.
This is no time for us to quarrel
with our bread and butter by
talking of embargoes on exports
Ii L. l. 90
Canada does not compare with
the United States in wealth, re-
sources and productive capacity,
but she is reaching out for for
cign trade and is offering credits
to European customers. The Fed
eral Administration has expressed
Willingness to help exporters in
similar way. The banks of this
country are in a position to fl
nance such trade to n practically
unlimited extent The Federal
Reserve Banks are stronger than
ever before. and money is likely
to remain in abundant supply for
9rdinary .rd business Isl iSfore purposes, h.
influenced by Government financ-
ing, which will tend to maintain
them for some months to come.
America will not be ruined by
surplus wealth. either in the form
of money or of manufa ctures and
raw materials. while the rest of
the world so badly needs what we
can spare.
These optimistic statements are
confirmed by the far-seeing OBJ
servers of the trend of the times,
who have their views on the enor-
nous resources and recuperative
powers of the United States. 1t re-
mains for the individual to so har-
monize his own activities with the
country's progress that all communi-
ties may be in step with the pros
perity which is believed to be at our
= I, ,rerholdS