Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-08-03

a speculative. position in regard to
the value of the mark at the end of
the period specified.
Several schemes are now bling con-
-sidered for financing Of exports not
only to Germany, but to all the
great need of American commodities,
including foodstuffs and raw ma
terials, but none of them has yet
reached definite stage.
1t is not Impossible, that with
the arguments which may be brought
forward as to the Importance to the
world of a speedy restoration Of Ger
tions, this whole series of objections
may be successfully met, and liberal
credit supplied for the immediate
needs of Industrial Germany.
Mechanics and Metals>R Bank Of New
. York \ city eity.In a Rokie5, entitled It s q
just prepared. this bank maintains
that with the return of peace other
nations must now, more than ever,
draw their life from as, or else suffer
possible social. industrial and finan-
cial breakdown.
The bank summarizes the situation
confronting the United States as one
all of Europe with food, goods, credit
and sympathy.
"To take the last of these first"
says the booklet, sympathy of an in
telligent and understanding kind is es-
sential to the welfare of Europe dur
ing the early part of the reconstruc-
ton period, else the other three needs
named will not be satisfied in the
proper manner A realization that
Europe's condition is tragically al
tered from what it was five years
ago must govern our attitude in ev-
erything we do, for then we will the
more readily supply the goods and
credit for Europe's upbuilding.
these are the goods above all else
that Europe needs. and that We can
supply: Grain and provisions, ma
chinery. railroad equipment and roll
ing stock; steel, iron. copper and
other metals; coal. wool. cotton and
to an unlimited amount. The same
circumstances that call upon us to
send food call upon US to send ma
terials to relieve a people oppressed
by a most harassing situation-one
in which industry is benumbed be-
cause tools and materials necessary
to relieve disorganization actually
do not exist
"As for credit, our willingness to ex-
tend financial accommodation against
which various nations and people may
draw, until such time when they car
meet their obligations with goods
or gold, win count strongly hence
,, forward. If people abroad are te
buy goods of us, credits will have ia
be arranged in their behalf, and we
Will find it necessary to accept these
as the only kind of payment our GUS
toners can AFFORD for the present"
In spite of the urgent present need
of Europe for materials and credit
the bank maintains a striking spiri,
of optimism throughout it's book, ex.
planning that inasmuch as recovery
after other wars has always come
more quickly than was believed pos
sibfe, rapid recovery from this wal
may be looked for very soon.
War is as old as mankind. So also
ingenuity and courage. are as old al
mankind. War has always brought
hardship and suffering. Human
courage and ingenuity, in turn, have
produced that with which to SUR
mount the hardship and overcome the
suffering. War has always called
forth destructive forces in mankind
By compensatfng paradox. it. has
come those destructive forces: valor
self-re1iance, capacity for sacrifice
immunity to hardship, ingenuity.
Looking to the future, there. are
certain human forces that we car
count upon to help balance the set.
back of the war, namely. the tough
ened moral fiber. the energized
for restoring material welfare of the
men who have returned from the
fighting"
To prove the soundness Of it's posi-.
ton in taking a cheerful view OF the
outlook, the bank describes the man.
ner of Europes recovery following
the thirty years war of the seven
nd
wars Of the nineteenth century, az
well as the recovery of the United
States following the civil war. OF
unusual interest is the account OF
Germany's rapid revival from state
of prostration in the seventeenth CEN
country today. According to the
banks narrative, the thirty years
war was of such a character that in
dustries and commercial routes In
Germany were 2 obliterated, towns
were leve1ed to the ground, homes
were charred masses and scattered
novels.
The National City Bank Of New
York-we do not say. the situation
is critical. for the outlook for the
Immediate future is good, but the
tendency to higher levels is not to be
welcomed or regarded with satisfac-
ton. It only means e longer distance
disorganization and confusion in re-
tracing 1T. This Is a time when the
common interests Of the community
will be served by patience. forbear-
ance, cooperation and spirit OF 80 :
cial loyalty and, patriotism. There is
need for loyalty and patriotism in the
management of community affairs as
well as in fighting foreign enemy.
Modern society is q very complex
and highly organized affair. 1t has
become SO because as population In
creases 1t is necessary that industry
shall be specialized and made more
productive. 1t takes on the form of
a great cooperative organization, in
which each person does some one
thing for the common welfare, ex-
changing his services for the serv-
ices that all the others render to
him. Each one owes loyalty and fidel-
ity to the organisation. They are all
exchanging days works. The organi-
zation is far from perfect. but mo-
body planned 1t as 1t ID; like Topsy,
il s.just growed." and nobody has the
power to make 1t suddenly different.
At this time there is disorder and
confusion which cannot be immedi-
ately remedied, but everybody can
heIp by doing his honest best in his
own work. If each one will do lit
tie better, the whole organization will
do better, the production of common
comforts will besgreaters and social