Evening star., 1919-12-28

World trade is the biggest financial
problem now that any nation ever
faced. With the
No New Credits by credit of Eu-
the Government. +eis. op.aA s;nn sIu
have furnished the best markets for
American goods strained to the abso-
lutte utmost and with prohibitive ex-
change as an almost insurmountable
barrier. the whole world faces the
need of goods that the United States
stands in the best position to fur
nish.
United States should not and will
not advance any more big loans to
these European countries. for their
own good as we'll as for the financial
stability of the United States. Those
impoverished countries. heavily in
vation through resumption of indus-
try and making something that the
United States can take in commercial
exchange.
The new Secretary Of Commerce in
his FIRST statement Of policy for the
department
Statement by said that
Secretary Alexander. = nmen,
should not be called upon for extern
sion Of credits to foreign countries"
but that in his opinion, this is
matter for the banks and private
concerns to handle" Chairman Ford
ney of the House ways and means
committee and other members of the
committee. 20 which such fiscal poll
cies are intrusted, has made the game
emphatic statement.
That is the distressing side of the
picture-the United States, with the
money. and the raw materials. and the
countries, without the money to pay.
needing raw materials and machinery.
There is a brighter and more opti-
mistic view for big business men.
Secretary Redfield from his wide
vision of world trade kept repeating
one thing most persistently-that the
American manufacturer and exporter
must above all else win good will in
world markets" Here is ready
made opportunity to win the good
will Of the people in many nations
who must be fed and clothed and fur
nlSn00
some Of the luxuries of life.
Secretary Alexander has said it.
The ways and means committee has
said it. Congress said
A Banking it in passing the Edge
export finance bill. The
1Iouaem' President said it in
signing that measure. The American
banking system and institutions must
solve the financial problem of export
trade. 1t is an axiom of business that
''the man who can get business can
command his price" and here is busi-
ness waiting. II Uncle Sam seeks to
solve the foreign trade problem due
to after-war conditions and to the
prevailing rates of exchange he must
call in the best financial talent OF
this country. Surely these financiers
will go at the task with much more
heart If there is personal pront In 1t
Tor them. There Is an assured per-
sonal profit to private enterprise In
the present foreign trade predicament,
and the business genius of the Ameri-
can financier can be trusted Ito
solve It.
There is an opportunity for personal
nrofit and for new business honors,
and this will lead to keen competi-
ton as between individuals and In
stitutions. Uncle Sam is eager to as
sist, as he may be easing the ways
legislatively, and those who know
finance best have NO doubt that Amer
ican business leaders will find a way
eloriously out Of the present situa-
tion.
--. sa *+
And what is moro natural than that
the fsr-seeing financiers Of this coun-
try, ambitious to
T.~ar>%, IN extend their influ-
Re- Mortea1ed. -, 49,. .u-