The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1919-08-12

WASHINGTON, Aug. 12.-That Eu.
rope has not been wrecked and ruined
by the war. but on the other hand Is in
a fairly sound economic condition, Is
the belief of Oscar T. Crosby, a rest.
dent in Europe from 1917 to 1919 and
president of the interallied council on
war purchases and finance and assist
ant secretary Of the United States
treasury during the war period.
1t is Mr.. Crosby's mature convic-
ton that peace finds the world with:
Cd A larger production plant Gn-
GLIDING agriculture) than 1t had In
1914. and probably having a value
greater than the losses mentioned
below
GU A supply of labor possibly more
as it had in 1914.
(3) Resources in raw materials suf-
ficient for the present needs Of the
race.
(4 No considerable losses, except
ing merchant ships destroyed, the
wear and tear on railroads, and the
devastation wrought in battle areas.
Europe has not been crushed by
the war, and her outlook is not
desoiate one" Mr.. Crosby declared in
the course Of recent interview.
when a continent or a country is
ruined you do not have to call wit
nesses to prove it. The facts are then
too clear to admit dispute. The great
war has been paid for in full. What
is left is ours to do with as we please.
In war or in peace, the world taken
as whole pays its bills in full every
night 1t goes to bed, and it must con-
tinue to do so until it establishes COM
munication with the man in the moon
and imports green cheese on credit.
mountains of metal and other ma
terials have been shot away in the
war, it is true; but they were dug up
and prepared for that very purpose.
Shooting them away has impaired
what may be called our 'undeveloped
plant account'-chipped something off
the far end Of our stick Of candy-but
that is loss we shant feel till we get
to that far end, if ever.
ITO prove that the world must,
and does, pay its way as it goes, we
have the fact that prOdutiOn leaped
forward as soon as the war began,
and not only kept pace but was far
ahead when the armistice was signed.
During the four years of fighting, the
United States took care Of itself as
usual, equipped and supplied its own
vast armies, and contributed to others
$4,000, 100000 worth of materials,
most of which would not have been
prepared at all, during that time, had
the war not required it. All this
without straining or depicting us in
any way. On the contrary, it reused
latent human forces which had been
neglected and presented to us, at the
conclusion of the war, with an indus
trial and agricultural equipment far
superior to the one we possessed be-
fore.
In Europe the wars effect upon
real wealth and production has not
been different in character. Each of
the principal belligerent nations has
vastly increased it's mechanical ca
pacity for production. Englands big.
gest loss is that of merchant ships.
while her power to replace those ships
is so much increased that the loss
will soon be more than made good.
Her railroads, like those Of every
other country, have suffered lot Of
wear and tear, but the larger part
of a railroads value is its roadbed;
and all roadbeds are substantially in
tact. England's soil and mineral de-
potts have not been seriously depleted
by the war, while her skill in exploit
ing them has been increased. She is
embarrassed by unusual labor de-
mands, but wide publicity of discus
sion is slowly revealing the necessary
limits of change in former condition.
THE case Of France is much the
same. There is an ugly streak of
severe devastation running from Elan
ders to Verdun. Mines have been
flooded, factories wrecked and homes
ruined. Thousands have lost their
private fortunes, and their plight
awakens deep sympathy. But their
desolation is not the ruin of France;
nor will it evenly bear heavily upon
the task of French reconstruction
during the critical years. because full
restitution will be made by German