The Caldwell tribune. [volume] (Caldwell, Idaho Territory [Idaho]) 1883-1928, 1919-10-10


of the wear is that which calls to-
gether the bankers of the United
States. Grave and complicated as have
been the financial problems of the war
period, it is conceded that problems OF
the reconstruction era will tax the IN
genuity of the bankers and business
leaders of the country to greater ex-
tent than anything they have under
taken since the day this country en-
tered the great war. :,
Then, we had united nation, all
classes and factions being willing to
submerge their individual preferences
and ambitions in the interests of the
nation and her allies in the war. Now,
the giant enterprises of the country
are crippled and handicapped by the
attitude of the various factions, with
or without representation in organized
labor movements. Conflicting de-
mands and aspirations of these or
ganized groups have apparently been
more prominent than the desire for
general and complete cooperation in
the interests of all concerned, and thus
the whole nation stands, uncertain, on
the boarder land of the prosperity that
lies easily within its grasp.
Keen students of the situation are
able to detect a tendency to radical
ism, in the present situation, more APP
preaching the Bolshevistic movement
in Russia than anything with which
we have had to contend in decade or
more. This radicalism, they believe,
has been fostered rather than crushed,
by the paternalistic policies of the
government. High officials in the
government service, according to some
speakers here this week, are not en-
tirely free from the influence of de-
structive Socialism.
One of the most important problems
of the convention was that which con-
Germs our business relationship with
European countries. The government
has been looking to the American
bankers to find way out of the per-
picking situation which so long has
menaced our trade overseas, and it is
believed that the solution worked out
by them at this convention will be
productive of good results.
Must Finance World Trade.
1t is certain that if American indus
trial and commercial activities are to
be resumed on a broad scale, it will be
necessary for our country to provide
some way for financing of this trade,
and bankers here are inclined to the
view that the best possible solution
will further government credits based
upon another popular government
loan.
1t is certain that If American in
dustrial and commercial activities are
to be resumed on broad scale, it will
be necessary for our country to pro-
vide some way for the financing of
this trade, and bankers here are in
clined to the view that the best pos
sibie solution will further government
credits based upon another popular
government loan.
The present condition of foreign ex-
change is such that it is practically inn
possible for American manufacturers
and exporters to carry on their trade
abroad. England, France and Italy
are without gold and materials with
which to pay for our goods. or even to
pay interest on the money loaned
them during the war period 1t is
only last week that the treasury an
nounced the riscontinuance of the pay
ments to us of interest on our foreign
government credits. and the Inaugural
ton of system of funding of future
interest obligations by adding them 10
the principal This is not an encourage
ing aspect, and should be further in
centive for us to assist in every legiti-
mate manner in the rehabilitation of
European finance.
AT the present time owing to the
conditions of the exchanges, the prices
which we are compelled to ask for
American goods are virtually pro-
hibitive to European tradesmen and
distributors. England and France are
attempting to adjust the situation. for
the reason that their governments
recognize the helplessness, and. be-
sides, they are anxious to stimulate
local production instead of having
their people depend too much upon
what they import from outside.
Must Grasp Opportunity.
We can never reach the peak of in
dustrial activity and prosperity until
We take all advantage of the foreign
markets, and the responsibility for
proper stimulation of this outside
nations OF Europe are to re-establish
natians of Europe are re-establish
themselves and provide proper mar
kets for our raw materials and manu-
featured products, we must render I'd
them the financial assistance neces-
sary to accomplish this purpose.
While the government has freely
stated its opposition to the extension
of its own credits to these nations. il
is the opinion of leading bankers thai
the task is too great for private bank
ing enterprise. and that therefore the
government must of necessity step in
and carry its effort one step further
The government could accept short
term notes from England or France
deposit these notes in the national
treasury, and float popular loan oil
(say) two billion dollars at fair
rate of interest to provide funds to
pay on the notes. Within Compare
lively short time the improved trade
conditions would not only enable Eu-
rope to pay off the new obligations
h.,t