The Pioche record. [volume] (Pioche, Nev.) 1908-1925, 1919-12-12

Increased ana Europe mas Deen We
prived OF the means Of meeting II here
tofore existing. Europe can have
only three ways OF meeting the fav-
orable balance of trade in peace |
times: BY imports into this country |
Of gold or of goods. or by establishing |
new credits. Europe Is In no posi- |
tion ut the present time to ship gold /
to Us, nor could we contemplate large |
further imports OF gold into this
country without concern.
Trade Exchange Necessary.
The time has nearly passed for in
ternationai governmental loans and
Il will take time to develop in this
country n market for foreign securi-
ties. Anything. therefore, which would
tend to prevent foreign countries from
settling for our exports by shipments
of goods into this country could only
have the effect Of preventing them
from paying for our exports and there
fore of preventing the exports from
being made. The productivity OF the
country greatly stimulated by the war
must find an outlet by exports to for
eign countries and any measures TAX
en- to prevent imports will inevitably
curtal exports, force curtailment OF
production, load the banking machinery
Of the country with credits to carry
unsOld products and produce indus
trial stagnation and unemployment.
IL we want to sell, we must be pre-
pared to buy Whatever, therefore,
may have been our views during the
period of growth of American business
concerning tariff legislation, we must
now adjust our own economic life to
changed condition growing out OF
| the fact that American business Is full
| grown and that America Is the greatest
| capitalist In the world.
No policy Of isolation will satisfy
the growing needs and opportunities
| of America. The provincial standards
and policies of the past, which have
held American business as II in
straitjacket, must yield and give way
to the needs and exigencies of the new
day in which we live, day full of
hope and promise for American bust
ness, il we will but take advantage
of the opportunities that are ours for
the asking. The recent war has end
ed our isolation and thrown upon us
a great duty and responsibility. The
! United States must share the expand
ing world market. The United States
desires for itself only equal opportuni-
ty with the other nations Of the world,
and that through the process of friend
~ cooperation and fair competition the
legitimate interests Of the nations con-
cerned may be successfully and eQuit-
ably adjusted
There are other matters of import
ance upon which l urged action at
the last session of congress which are
still pressing for solution.
For Soldier Relief.
am sure 1t Is not necessary for me
again to remind you that there Is one
immediate and very practicable ques
ton resulting from the war which we
should meet In the most liberal spirit
, IL Is matter of recognition and re
lief to our soldiers. l can do no bet
4, ter than to quote from my last mes
sage urging this very action:
1--WE must see to it that our return
Ing soldiers are assisted In every prac
ticable way to find the places for which
they are fitted In the daily work of thu
country. This can be done by develop
ing and maintaining upon nm adequate
scale the admirable organization ere
:. ated by the department of labor TO
: placing men seeking work; and 1t cal
also be done, in at least one very grea
field, by creating new opportunities TO
:, individual enterprise. The secretar
of the interior has pointed out tn
way by which returning soldiers ma
be helped to find and take up land !
the hitherto undeveloped regions Q
the country which the federal govern
= ment has already prepared or ca
. readily prepare for cultivation and ais
on many of the cutover or neglecte
. areas which lie within the limits G
:. the older states; and l once more tax
= the liberty of recommending very u
y gently that his plans shall receive tn
y immediate and substantial support {
- the congress"
In the matter Of tariff legislation,
q beg to call your attention to the stat
ments contained in my last messas
:, urging legislation with reference to Il
- establishment of the chemical ar
!. dyestuffs industry in America:
h among the industries to which SIP
!. cial consideration should be given
n that of the manufacture of dyestuf
=. and related chemicals. Our compile
= dependence upon German supplies b
:. fore the war made the interruption
70 trade.a cause of exceptional econom
\. disturbance. The close relation b
h. tween the manufactured dyestuffS I
40 the one hand, and Of explosives al
IN poisonous gases, on the other, mol
,a over, has given the industry an exec
= tional significance and value.
IL Must Maintain Defense.
tie although the United States will gla
at ly and unhesitatingly join In the pl
IN gram Of International disarmament,
n will, nevertheless, be policy Of OBJ
n GUS prudence to make certain Of
X successful maintenance Of ma
lg- strong and well equipped chemi'
mt plants. The German chemical ind
try, with which we will be brout
into competition, was and may well
A again, thoroughly knit monopoly G
90 able of exercising q competition Of
ar peculiarly insidious and dangert
In kind"