The Chattanooga news. [volume] (Chattanooga, Tenn.) 1891-1939, 1919-09-08
CONSERVATIVE LEADERS
Most Significant Development of tn
Week.

/ Most Significant Development OF the
Week.
New York, Sept S.-(Special. Henry
Clews, the financier. says in his weekly
financial letter:
The most significant development of
the week was the setback to the radical
labor element and the resumption of
more conservative leadership. Ii is not
to be supposed that labor has sur
rendered its ambitions or Is disposed
to reinquish any Of the advantages 1t
how possesses; but its Willingness ct
President Wilson's request to refrain
from strikes at this time, and to aid
rather than hinder q reduction in the
cost of living, is of itself an important
change for the better. 1t marks new
and hopeful trend in the labor move
ment; an inclination to establish the
rule of reason instead of the rule OF
force. Labor has already made very
large gains in the direction of higher
wages an dshorter hours, which it is
now commonplace to say have been an
important factor in raising the cost of
living. Recognition of these facts had
doubtless much to do with labor's ac-
ton; and, having gone thus far, the
policy of reducing output must also
give place to a new policy. that of in
creasing the output. Both President
Wilson and Premier Lloyd George, at
the risk of personal popularity. plainly
told their people that the salvation of
the world today was work, that the
only cure for high prices wa sto pro-
duce, and that the best antidote for
world wide distemper and unrest was
industry and thrift. The United States
suffered less and gained more through
the war than any other nation. We
can, therefore, well afford OF set other
nations a good example. Great Britain,
France. Belgium and even Germany are
making a rapid return to the normal;
a result that may he gained sooner
than expected. If capital and labor will
simply pull evenly together, the United
States can easily lead the world In the
great work of universal restoration.
"As sequence to the war the United
States has entered not only into closer
political relations with the outside
world, but also into much more init
mate commercial relations. 1t Is con-
sequently of particular interest to
watch the recent growth of our foreign
trade. During the seven months end
ing July our exports We're 81, 62S 0OO. 600.
OF this amount S1.SSS, 600 900 went to
the British empire. including sl.3i3,-
600. 900 to the United Kingdom. Our
next best customer was France, which
took $3.50. 900, 900. followed by Italy.
which bought to the extent of s272 00o,-
900. Belgium S2i0.000.000. and Japan
S215, 100000. Germany's purchases were
limited to $21, 900. 600. owing to war re-
striCtions. but she was evidently largely
supplied indirectly by American ship
ments to Holland. Denmark. Norway
and Sweden. which combined reported
a significant increase of 1870. 600. 600. Our
total imports for the seven months
were 1881. 900 600. OF which $500. O0O.-
900 came from the British empire.
Canada alone took merchandise valued
at s256.oOd,OOO and Cuba $3.50 900,
From Brazil we received sos. 600. 600.
from Japan $751;. 600 600. from France
only SIG. 600. 600. from Italy SIS. Don, 900,
and from Belgium 81 100000. These
figures show not only where our COM
mercial interests are greatest. but also
the recent inability of Europe to pay
its debts in p-oods"