The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1919-07-16
y. S. MAY ASSIST
ENGLISH TRADE
Depleted British Merchant
Marine Booms Ameri7
can Exports.

Yesterday in this column there was
reported a statement by a leader In
American industry which set forth
,ne Of the conditions now prevailing
% England which must be seriously
considered and thoroughly under
stood before the United States Is
nily ready to aid England in the
colossal world financing which Is In
svitable. D..
This American Industrial leader has
been in Europe for several months.
ae asserted that labor in Great Brit
lin will not again be as cheap as 1t
vas before the European war began.
Ind is likely to be maintained at the
present high rate. This will have
IN important influence in re-estab-
tshing English trade relations with
he world.
Then again there is the important
felation of coal mining and the use
" coal. as well as its export. which
> one Of the most serious problems
England must solve. Prior to 1914
England's coal was cheaply produced
a that way. Furthermore. England
vas exporting coal In vast amounts
10 other parts Of the world. The
Omitted States Is in position to COM
nand some of the foreign markets
or coal which Great Britain formerly
Exclusively controlled. The coal min
ms of Great Britain insist upon high
,ay. and will receive il; and their
condition will probably be improved.
EnxIand's Merchant Marine.
Before 1914 England had the great
st merchant marine in the world.
That was OF almost inconceivable
ralue to her. not only in the mastery
II overseas trade but in the vast in
eome which IL brought to her. Dur
ng the war Great Britain lost Y per
lent of her merchant marine and
pome years must pass before this
rreat deficit can be repaired. Mean
Ehile the United States is building UP
\ merchant marine which. IL there be
Wisdom in the manufacture of ships
Md in the control of them. should
make this country substantially in
dependent so far as the carrying trade
b concerned.
Prior to July. 1914. England's in
festments in other lands were far in
Excess of those of any other nation.
Now the conditions are OF such char
lcter that IL seems to be inevitable
hat England must recall these in
Festments so that they can be made
" service in refinancing the colossal
febt which England has created.
Q. 5. May Get Securities.
1t is a reasonable inference that
many of these securities will be
utilized for the purpose OF guar
Ine>sing credits or loans which MAY
be obtained in the United States
Possibly many of them will be sold
here. If that were to be done upor
, large scale. then a considerable
Sffset to the obligations of England
20 the United States would be Sc.
Yred.
The wealth possessed by the Eng
ashman is very great but it may be
essential. if the nation is to be
syed from financial cataclysm,
hat the government stretch forth
Is hand and take a large proportion
If the wealth now in the possession
" the rich men of Great Britain.
They may take it in the form oil
Axation. They may commander Il
tut whatever form the conscriptior
" wealth takes. it will be regarded
rot merely as a peace measure but
n fact as a war measure.
The American bankers and indus
rial leaders will. in all probability
pe persuaded that any aid we car
give can be given because the po-
ential resources of Great Britain
md of her colonies are stupendous
Fhey are sufficient IL wisely handled
b enable England to recover her
trength.
HOLLAND.