The sun., 1919-08-09
President Wilson's Address
WASHINGTON Aug s-In his address the high living
Congress to-day


proper reassembling of the dislo-
Gated elements of enterprise until
peace has been established and, SO
far as may be, guaranteed.
Our national life has no doubt
been less radically disturbed and
dismembered than the national
life of other peoples whom the
war more directly affected, with
all its terrible ravaging and de-
structive force, but It has been,
nevertheless, profoundly affected
and disarranged, and our indus
tries, our credits, our productive
capacity, our economic processes
are inextricably interviewer with
those of other nations and peoples
most intimately OF all with the
nations and peoples upon whom
the chits burden and confusion of
the war fell. and who are now
most dependent upon the cooper
ative action Of the world.
Exports Setting Record.
We are Just now shipping more
goods out of our ports to foreign
markets than we ever shipped be-
fore-not foodstuffs merely but
stuffs and materials of every sort;
but this Is no index of what our
foreign sales will continue to be,
or of the effect the volume of our
exports will have on supplies and
prices.
1t is impossible yet to predict
how far or how long foreign pur-
chasers will be able to find the
money or the credit to pay for or
sustain such purchases on. such a
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 merchants set up again
their old machinery of trade with
the ends Of the earth.
All these things must remain
uncertain until peace is estab-
lished and the nations Of the
world have concerted the meth
DDS by which normal life and I'M
dustry are to be restored. All
that we shall do. in the meantime,
to restrain profteering and put
the life OF our people upon a toll
erable footing will be makeshift
and provisional.
There can be no settled condi-
tions here or elsewhere until the
treaty Of peace is out of the way
and the work of liquidating the
war has become the chief concern
of our Government and of the
other governments of the world.
Until then business will inevitably
remain speculative and sway now
this way and again that, with
heavy losses or heavy gains as 1t
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 n war basis.
Europe Looks to Us.
Europe will not, cannot recoup
her capital or put her restless,
distracted 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 confidence
of purpose depend. While there
is any possibility that the peace
terms may be changed or may be
held long In allegiance or may not
be enforced because OF divisions
of opinion among the Powers as
ISOLATED against Germany II 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. provisional though It be- Wheat
shipments and credits to facilitate
the purchase of our wheat can
and will be limited and controlled
. In such a 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 for
eign peoples who are in dire need
of II. and We do not wish to do so;
but fortunately. though, the wheat
crop Is not what we hoped II would
be, It Is abundant II handled with
provident care. The price of wheat
is lower in the United States than
in Europe and can with proper
management be kept so.
BY way of immediate relief. sur
plus stocks of both food and cloth
ing In the hands OF the Govern
ment will be sold. and. Of course.
sold at prices at which there Is
no profit.
And by way OF 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 control act
the boarding of foodstuffs can be
checked and prevented; and they
will be, with the greatest energy.
HoardinE Can he Ended.
Foodstuffs can be drawn out OF
storage and sold by legal action
which the Department Of Justice
will institute wherever necessary;
but so soon as the situation is
systematically dealt with It is not
Akely that the courts will often
have to be resorted to. Much OF
the accommodating or stocks has no
doubt been due TO the sort OF
speculation which always results
Continued on Second Pdss.