The Washington herald., 1919-01-15
WARNING NOTE
TO U. S. SOUNDS
May Be Necessary to Inn
port Wheat More and
More, Says Holland.

should the day come when the Gus
tom authorities report to Washington
that the United States is beginning TO
import petroleum and that the i'm
ports are likely to increase, there VIII
be contained in this report suggcS-
! ton that should be OF vital interest
not only to an American Industry
now one OF the greatest. but also to
| the American people. Twenty years
ago some OF the authorities sounded
a note Of warning which set forth the
| possibility. even probability. that
| gradually but surely the United States
would harvest each year an amount
OF wheat not sufficient for the needs
Of the American people and therefore
compulsion would be upon US to I'M
port wheat from other countries. One
OF the leading men OF science of
Great Britain sounded the rrst note
of warning OF that kind and what he
said was echoed by others in the
United States. For II 1t were found
necessary more and more each year
to import wheat. that would in
eYitably change the center of economic
and financial gravity in tn, United
States and the farmers. who consti-
tute about one-third Of all the work
ers in American industries would be
heard appealing to Congress to i'm
pose a heavy customs tax upon i'm
ported wheat.
Fortunately science and the opening
up OF new and vast areas to the Cul-
tivation Of wheat served to avert the
lurking danger that We miCht not be
able to raise wheat enough to feed
OUT own people.
II it should happen that the United
states should become heavy i'm
porter Of petroleum. no longer export
| ing any. and if these Imports should
Increase so greatly as would he GER
tain in case our natural resource in
petroleum were exhausted tand some
| OF the experts say that at the present
rate OF production and use it will ne
exhausted In about sixteen years).
then momentous changes in industry.
finance and. in fact. in American civ
lIizatlon will be certain to follow.
What We Are Exporting.
We have been until recently export
ing every year petroleum and its yari-
Gus prOduCts-not' only to our allies.
but to all parts Of the world-whicn
Is OF the money value Of about SI5O-
$4,000. This amount is exceeded in the
money value Of exports Of food prod
ucts and Of cotton. and has recently
been equaled or perhaps slightly eX-
ceeded BY our exports of steel q - its
allied products
Therefore if our resources in Pc
troleUm are exhausted i'm sixteen years
We shall be compelled to forego the
advantages which IN export of petro-
leum, measured 10y dollars. Of SI00.-
10000 has given us-an export which
has considerably increased the trade
balance which has been in our favor.
|
to pay 100000 for the petroleum
which we import from other nations
Mexico, South America. or even the F..
Far East. That would be a differ 4,
Iencc of 500 10000. not in our favor |
but against US, and some of the au- !
thOrities believe il TO he possible that /
Ithe difference may ultimately Amount I
30 as much as $f00.O)O0pl. Our ex- /
ports OF cotton We're. until the war |
unsettled markets, 50 great az to .
yield $50. co to the United states /
Several times this has constituted !
approximately our visible internation-
al trade balance. The experts at
Washington and the financial leaders
elsewhere in this country estimate
that our allies across the sea will
pay to the United States each year. |
on account or interest upon loans |
between 100000 and 500 O00OGO.
Should il unfortunately happen that
our petroleum resources are exhaust |
ed within sixteen years so that We
must import Instead of export any
oil or anv Of its products then it is
possible the the difference against the /
United States would amount to per- /
fhaps three-fOurths. maybe four-tfth- .
as much a. the interest payment to ,
| the United States by the allies or the /
money value of our exports of cotton. |
The First Warning.
Already the evidences begin to ac
rumulate that we are to import oil
more and more, chiefly because our
pwn supplies are gradually dccreas-
ng The American people may mott
be as yet aware of the lurking dan
ger which exists in the oil situation.
but they are sure to awaken to this
kact after having been adequately
Informed and especially a:cer i'm
ports of oil cause such Oh
prices as materially to affect direct
b or indirectly every person in the
limited States. 4. c. Bedford. who
j. chairman of the board of the
STANDARD Oil Company. Of New Jer-
sey. which is the greatest corpora
HON whose vocation is the manu-
featuring and marketing of oil prod
Icts. has recently indirectly at least
ntimated to the American people
that il is Of vital Importance that
measures be taken to conserve our
bill supplies and to retain control
Df our foreign markets as far as
koossibIc. That is also the view Of
Walter Clark TCagle, who in mas
kerIy manner since his election as
president of the Standard Oil Com |
panv Of New Jersey a little over
wear ago. has demonstrated his |
biIity as an operator and manager ]
bf a great industry. and also his
profound understanding of what
he new relation between the men
kxho work for wages and the men =,
kvho employ them must be IL there |
he content and peace in the labor |
World. NJ L. Requa. national oil |
administrator and master of the
tatisticaI side of oil production. |
.ounspls the adoption Immediately 7
: measures whereby our oil supply |
nav be conserved. OF course 1t Is
eropuized that there may b" the |
5isr0veries Of new and vast oil /
Ealds and the interest and the eN-
.Itement which are now prevalent III
m regions Of the United States
fyberc discoveries Of oil prospects
kVere recently made. furnishes sum
ent evidence Of the view taken by
n Who are familiar with this in ,
ustrv of the relation which it IS
- hear to American Industries of all
Lxinds and to our international trace
Or F. C. Acheson. who has recently
INN NTsEas szFV