The Hartford republican. (Hartford, Ky.) 18??-1926, 1919-03-21
GREAT BANKER URGES
IMMEDIATE ACTION
In Starting Wheels of Indus
try To Avert
Disaster.


4. Vanderlip to the Associated Press
so-day. He had been INVESTIGATING
conditions in England and France
and will continue his inquiries in
Switzerland and Italy.
America was once told there
might be peace without victory he
said. What we have is victory
without peace. Production has ceas-
ed and . unless production can be
speedily resumed ones imagination
cannot comprehend the chaos which
may ensue.
There is nothing to he gained by
stopping to question who is to blame
or by finding fault with the way
events have been guided. The great
productive machine of Europe must
be started or the world will be con-
Tronted with disaster such as no ex-
perience has recorded. Here in
France everything waits on the settle
ment of the question of indemnity
and the progress of events in Ger
many. Each day makes the pros
pect of indemnity less possible.
Wreck May Cover Europe.
II have seen something of the ut
ter wreck which the Central Empires
inflicted throughout the war zone. 1t
Is complete-no words can picture
truly how complete it is. That wreck.
however, covers only a trip from the
channel to the German border. There
is possible a wreck that will cover
all Europe. If productions is not re-
sumed, the horrors of war may be eX-
ceeded by the horrors of this after
period, which is neither war nor
peace, but a breakdown of the ma
phinery of CIVILIZATION. In the face Of
such appalling disaster every partisan
consideration, every unessential diff
ference of opinion should be instantly
forgotten.
Unless terms of peace can be
speedily agreed upon, and unless
these terms are such as will permit
the resumption of something APP
preaching normal industrial life,
there is not merely chance. there is
a strong probility Of Russian Bolshe
vism oyerrunning Germany. What
Bolshevism is can never be really pic
cured by normal mind. No descrip- |
tioa of il has ever been over-drawn. |
One may say that the temperament /
and Psychology of Germany is not F!
such as to lead that country to Boil |
sheyism Hunger can lead any coun- !
Try 10 Bolshevism and hunger is I
what Central Europe is facing.
The stories which our soldiers tell .
of apparent ample food supplies on /
the Rhine should be taken only as !
indicating how completely govern |
mental power over food control has /
broken down and how food stocks
that are essential are being recklessly 4,
consumed. Pictures that l have re- |
ceived from the highest quarters re- !
lative to food conditions in Central |
Europe, both in and out of Germany, !
ace sensational. They are sensation
al because the facts are sensational. !
Must Start Production.
Whatever is being done in the way |
OF alleviating conditions of starvation !
is necessary, but that is merely allie
Walton 1t does not get at the root !
Of the thing. That root runs down |
into the ground of production. If the |
situation is to be saved every effort |
must be bent toward solving the prob !
lem and again starting production.
The first essential step is fixing
tine terms of peace. The danger from
delay cannot be oyerestimated. One
might speak of the seriousness of the
financial situation in several Eu-
rupean countries. 1t is serious be-
yond anything we have understood
in America Germany is paying a
daily subyention to a million idle
men. France has issued $4,000
100000 francs OF paper money, the
limit of the latest law having been
reached.
An additional three billion francs
VIII be authorized, but there is lit
lie advantage in discussing financial
conditions in the face of this great
er evil of a breakdown of industrial
production. There is no economic
legerdemain that can correct the
financial difficulties of Europe. Pro-
ductiOn alone can do that. Produc-
lion in sufficient quantities to permit
me export of goods alone can perma-
mently support exchanges.
4. =. Cannot Withdraw.
There have been dreams of all the
Allies sharing all debts. There have
been plans proposed for international
guarantees Of exchanges. These are
Idle suggestions. There can be no
international guarantee that can sus-
tain exchanges while printing presses
continue TO make paper money.
rHn.