The Chattanooga news. [volume] (Chattanooga, Tenn.) 1891-1939, 1919-06-17
HOOVER NOT PEssIMIsT
Says Many Countries Of Europe Can
Sustain Themselves.
(Recent Statement OF Herbert HooYAr.l

Says Many Countries Of Europe Can
Sustain Themselves.
| CRecent Statement OF Herbert Hoover.I
The volume OF financial assistance
needed In the solution therefor varies
with the situation in each state. Neu-
trail states are f1ourishing. and need
cause no concern. Rumania. Greater
Serbia, Bulgaria, Arabia. Turkey. ex-
cept Armenia; Portugal, Greece and
Hungary will be virtually self support
ing. In fact, some of them should be
able to export food. and. with other ex-
all their needs except perhaps, rail-
way construction material, agricul.
| tural implements, and currency reorgan-
ization. These states represent near.
ly one-third the population OF Europe.
Poland and the Baltic states will
produce almost enough bread, grains.
and vegetables for their own people.
but will, be short OF fats. If they OBJ
tain resources for currency reorgani-
cation and some working capital for
raw material imports, so as to get ex-
ports going. they should. with economy.
be self-supporting within few months.
Czecho- Slovakia. Belgium and Finland
always require breadstuffs. meats and
fats throughout the year to supplement
their own production. These people are
already moving theoretically to get
their industries going, even under the
terrible difficulties presented by the ar
working capital toereorganize their cur
rrencies, provide raw material. and meet
the food problem for a while. The eco
nomic problems of most of these states
are simple when compared to the larger
European nations, and the world will be
astonished with their recovery If they
have peace.
May Need Help for Years.
There will be great poverty among
individuals who have suffered loss d.
rectly from the war. and these will
comprise a proper scene for charitable
work for wears, as has been the case
this last winter
The condition OF Germany and Ger
man Austria cannot be discussed intel
ngenhy until peace is signed. OF the
100000 Germans in these two states.
some 25,00O,000 to 10000, 900 lived before
the war by trade. by the import of raw
material and export and exchange for
1000 and other necessities, and these
cannot be supported on the land. How
same time get credits for raw materials
is problem for the new commission
whose duty it will be to obtain maxi
mum reparation. II they do not get
raw material and food. they will never
be able to pay indemnities. In any
overlooked is that 100000 to 10000, 900
OF this population may emigrate east
ward or overseas under the economic
pressure.
The larger allied states have an up-
hill load to pull in the resurrection of
industry and their economic life. France
has the smallest need for food imports,
and Great Britain can feed herself
largely from her colonies, but both will
need financial help in credits for raw
Italy viii need assistance in
raw materials and in food supplies. All
will want relief from the payment of in
terest for some time on what they owe
The American treasury.
the dominant problem in
the rehabilitation of Europe is one
wholly of credits with which to buv
overseas, and if such financing can be
provided. Europe should be on a self
basis within another year.
Whether the United States will unders
axe a third stage in our intervention
n Europe must be for congress to de-
tide. The first stage was to end the
var. the second to feed the people until
'eace and harvest, and the third NAV
'e to give our financial assistance to
'ring back economic life.