Okolona messenger. (Okolona, Miss.) 1900-current, 1919-12-04

ments she had to make to foreign
countries on American securities held
abroad, the expenditures Of American
travellers abroad and the ocean freight
charges she had to pay to others
about balanced the value of her pre-
war favorable balance of trade. Dur
ing the war Americas exports have
been greatly stimulated and IN
creased prices have increased their
value. On the other hand, she has
purchased a large proportion OF the
American securities previously held
abroad, has loaned some $9,O0O,OOO,OOO
to foreign governments, and has Dullt
her own ships. Our favorable bal
ance of trade has thus been greatly
increased and Europe has been de-
prived of the means OF meeting II
heretofore existing. Europe can have
only three ways of meeting the favor
able 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 position at
the present time to ship cold to us
nor could we contemplate large FUR
Their imports of gold into this coun-
try without concern. The time has
nearly passed for international gov
ernmental loans and 1t will take
time to develop in this country mar
ket for foreign securities. Anything,
therefore, which would tend tc pre-
vent foreign countries from settling
for our exnorts nv shipments of goods
into this country could only have the
effect of preventing them from paying
for our exports and therefore OF pre-
venting the exports from being maze
The productivity of the country great
ly stimulated by the war must find an
outlet by exports to foreign countries
and any measure taken to prevent i'm
ports will inevitably curtail exports,
force curtailment of production, LOAD
the banking machinery of the country
with credits to carry unsold products
and produce industrial stagnation and
unemployment. If we want to sell, we
must be prepared to buy. Whatever,
therefore, may have been our views
during the period of growth OF Amer
lean business concerning tariff legls
lation. we must now adjust our own
economic life to a changed condition
growing out of the fact that Amerl
can business is full grown and thai
America is the greatest capitalist il
the world.
Isolation Not U. S. Policy.
No policy of isolation will satisfy
, the growing needs and opportunltle'
/ of America. The provincial standards
} and policies of the past, which haV'
3 held American business as II IN
8 straight-jacket, must yield and Civ
| way to the needs of exigencies OF tn
t new day in which we live, day full
4 Of hope and promise for American bus
e iress, if we will but take advantage @
g the OPPORTUNITIES that are ours for tn
t asking. The recent war has ended Oh
Isolation and thrown upon us grea
T. duty and responsibility. The Unite
l. States must share the expandin
y world market. The United States a
d sires for itself only equal opportunit
W with the other nations fof the Worl
II and that through the process OF frfen'
IS ly cooperation and fair competitio
10 the legitimate interests of the nation
d concerned may be successfully an
e equitably adjusted.
D. There are other matters of impo
t. lance upon which urged action at Tn
Is last session of congress which al
y still pressing for solution. l am SUI
,r It Is not necessary for me to again r
)r mind YOU that there Is one immedia'
ID and very practicable question Tesul
n ing from the war which we shou
,e meet in the most liberal spirit 1t
b. a matter OF recognition and relief
is our soldiers. I can do no better tina
Is IN quote from my last message urgir
I'd this very action: 1--WE must see 10
that our returning soldiers are assls
We ed in every practicable way to iii
he the places for which they are fitted
H. the daiIv work of the country. III
es can he done by developing and mai
". tanning upon an adequate scale the a
lie mirable organization created by u
st, department of labor tor placing m
to seeking work and it can also be don
I'd in at least one very great neld,
ty creating new opportunities for I'M
vidual enterprise. The secretary
the interior has pointed out the VI
he bv which returning soldiers may
ha helped to find and take up land
in the hitherto undeveloped regions
or the country which the federal govel
I'd ment has already prepared or c
IN readily prepare for cultivation a
Of also on many Of the cutover or nj
ch lected areas which lie within t
is limits OF the older states; and on
al more take the liberty of recommel
aw ing very urgently that his plans sh
re- receive the immediate and substant
Ear support of the congress"
ear In the matter of tariff Legislation
on beg to call your attention to I
in statements contained i'll my last m
ace sage urging Legislation with rel
ev- ence to the establishment OF the che
on lcal and dyestuffs industry in Am
ISL lea: