The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1919-08-08

iliar; but we are not justified because
OF our familiarity with them, or be-
cause OF any hasty and shallow con-
clusion that they are natural and in
evitable in sitting inactively by and
letting them work their fatal results
II there is anything that we can do to
check. correct or reverse them. !
have sought this opportunity to in
form the congress what the executive
is doing by way Of remedy and con-
troll, and to suggest where effective
legal remedies are lacking and may
be supplied.
I'VE must, l think. frankly admit
that there is no complete remedy to
be had from legislation and executive
action. The free processes Of supply
and demand will not operate Of them
selves and no legislative or executive
action can force them into full and
natural operation until there is peace.
There is now neither peace nor
war All the world is waiting-with
what unnerving fears and haunting
doubts who can adequately say?-
waiting to know when it comes-a
peace in which each nation shall make
shift for itself as 1t can, or a peace
buttressed and supported by the will
the purpose and the power to do and
to enforce what is right Politically
| economically, socially. the world is
on the operating table, and 1t has not
been possible to administer any anes
| thetic. 1t is conscious. 1t even watches
the capital operation upon which II
knows that it's hope OF healthful life
depends. 1t can not think its bust
ness out or make plans or give intel
ligent and provident direction to its
affairs while in such a case. Where
there Is no peace Of mind there can
be no energy In endeavor. There car
be no confidence in industry, no cal
culation for credits, no confident buy
| ing or systematic selling, no certain
| prospects of employment, no norma
restoration Of business, no hopeful
attempts Of reconstruction or the
proper re-a ssembling Of the dislocateG
elements Of enterprise until peace has
been established, and so far as may
be. guaranteed.
Our national life has no doubt beer
less radically disturbed and dismem
bered than the national life Of Other
peoples whom the war more affected
with all its terrible ravaging and de
structive forces, but it has been
nevertheless profoundly affected anc
disarranged and our industries, ou
credits, our productive capacity, oul
economic processes. are inextricably
| interviewer with those of other ma
lions and people upon whom the chic
burdens of, and confusion of the wa
fell, and who are now most dependen
upon the cooperative action of thu
world.
I'VE are just now shipping more
goods out of our ports to foreign mar
kets than we ever shipped before
not food stuffs merely, but stuffs ant
materials Of every sort; but this Is NJ
index of what our foreign sales will
continue to be or of the effect tn
volume Of our exports will have OF
supplies and prices. 1t is impossible
yet to predict how far or how lon
foreign purchases will be able to fin
the money or the credit to pay TO
or sustain such purchases on such
scale. How soon or to what extern
foreign manufacturers can resum
their former production. foreig,
farmers get their accustomed crop
from their own fields, foreign mine
resume their former output, foreig,
merchants set up again their old ma
chinery Of trade with the ends of tn
earth; all these things must renal
uncertain until peace is esta blishe
and the nations of the world hav
concerted the methods by which mol
NAL life and industry are to be re
stored. All that we shall do In tn
meantime, to restrain profiteering an
!. put the life Of our people upon to
-. cradle footing will make shift an
PROVISIONAL There can be no steele
condition here or elsewhere until tn
, treaty of peace is out of the way an
, the work Of liquidating the war ha
become the chief concern of our go
eminent and of the governments {
the world Until then, business will il
, evitably remain speculati tive and swa