The Richmond Virginian. (Richmond, Va.) 1910-1920, 1919-08-09
FULL TEXT Of
has been established and, so far
as may be. guaranteed
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has been established and, so far
as may be, guaranteed.
Our national life has no doubt
reen less radically disturbed and dis
mem bel cd than the national life of
other peoples whom the war more
directly affected, with all its terrible
Iravagins and destructive force. but il
has been. nevertheless profoundly af-
fected and disarranged, and our in
dustries. our credits, our productive
capacity. our economic processes are
inextricably interviewer with those of
those nations and peoples--most in
| timately of all with the nations and
peoples upon whom the chief burden
and confusion OF the war fell and
who are now most dependent upon the
cooperative action of the world.
Increased Shipping.
We are just now shipping more
goods out of our ports to foreign
markets than we ever shipped before
not foodstuffs merely. but SUITS and
materials Of every sort; hut this is
mo index of what our foreign sales
viii continue to be, or of the effect
the volume Of our exports will have
! upon supplies ana prices.
1t Is impossible yet to predict how
far or how long foreign purchasers
will be able to find the money or the
CT edit to pay for or sustain such pur-
chases on such 8. scale how soon or
to what extent foreign manufacturers
can resume their former production.
foreign farmers get their accustomed
crops from their own fields, foreign
mines resume their former output.
foreign merchan1, set UP again their
old machinery OF trade with the ends
OF the earth
All these things must remain I'M
certain until peace ia esta blished and
the nations of the world have con-
! certed the methods by which normal
life and industry are to be restored.
All that we shall do in the meantime,
te restrain protiteering and put the
life of our people upon a tolerable
footing will be makeshift and pro-
| visional
| There can he no settled conditions
here or elsewhere until the treaty of
peace Is out of tie way and the work
of liquidating the war has become
the. chief concern of our government
ana OF the other governments of the
world. Until then business will in
evitably remain speculative and sway
| no wthis way and again that, with
heavy losses or heavy gains as it may
chance and the consumer must take
| care of both the gains and the losses
There can be no peace prices so long
as our whole financial and economic
system is on war basis.
Whore We Stand
| Europe will not. cannot recoup
her capital or put her restless dis
tracted peoples TO work until she
knows exactly where she stands in
| respect of peace, and what we will
| do is for her the chief question upon
which her quietude OF mind and con-
fdence of purpose demand. While
there Is any possibility that the peace
terms may be changed, or may be
held long in obeyance or may not be
enforced because of divisions of
| opinion among the powers associated
against Germany IL is idle to look for
| permanent relief
| But what we can do we should do
and should do at once. And there is
a great deal that we can do pro-
visional though 1t be.
| Wheat shipments and credits TO
facilitate the purchase of our wheat
can and will be limited and controll-
ed in such way as not to raise but
rather to lower the price of -four here
The government has the power. within
certain limits, to regulate that.
| We cannot deny wheat to foreign
peoples who are in dire need of IT,
and we do not wish to do so; but
fortunately, though the wheat crop
is not what we hoped it would be-
II Is abundant IL handled with provi-
! dent care. The price OF wheat is
! lower in the United States than in
Europe and can with proper manage
ment be kept so.
| BY way OF Immediate relief
surplus stocks Of both food and
| clothing in the hands OF the
| government will be sold, and. Of
course, sold at prices at which
| there is no profit.
And by way or a more perma-
| nent correction OF prices surplus
| stocks in private hands will be
drawn out Of storage and put
upon the market. Fortunately.
under the terms of the food con-
! troll act the boarding OF food
stuffs can be checked and pre-
vented. and they will be, with
the greatest energy.
I Food From Storage.
Foodstufys can be drawn out of
storage and sold by legal action which
| the department OF justice will insti-
! fute wherever necessary: but 50 soon
as the situation Is systematically dealt
with II is not likely that The courts
Will often have to be resorted to-
Much OF the accommodating OF stocks
has no doubt been due to the sort Of
speculation which always results from |
uncertainty. Great surplusus were ac- |
cumulated because It was Impossible to |
fnresee what the market would dis
close and dealers were determined to ,
be ready for whatever might happen l
as well as eager to reap the full ad-