Atlanta semi-weekly journal. (Atlanta, Ga.) 1898-1920, 1920-02-17

tant subject to most people, but as a matter
of fact it affects all very directly and de-
cidedly,' says the YOUNGSTOWN VINDICA-
TOR (Dem.) We refuse to take European
money at it's face value, and many Europeans
are unable to buy our products at the heavy
discount to which their money is subjected.
AS consequence, we have outlet for our
surplus raw materials and machinery. Europe
needs these articles before it can resume
production of goods to ship to us. So, ac-
cording to financial experts, unless this cir
Gle can be broken the situation will go on
getting worse instead of better, and the
whole world will suffer from lack of necessi-
ties.
There is no depreciation of commodities,
as the COLUMBUS DISPATCH Gnd.) points
out. and this paper goes on to say:
IF German has watch that is valuable,
he can trade it for something else that is
valuable. If Frenchman were to bring
over here trunkful of laces or chinaware
he would not find it deprecated in value; he
could trade for wheat or meat or raw ma
terial or manufactured products of any kind
But when the German or the Frenchman
comes along with handful OF paper money
and wants to exchange it for something
which we possess, we look at it and figure in
our minds just about what the nation back
OF it will really be able to pay when it comes
to redeemlng it, and announce an exchange
rate for the stuff
So the DISPATCH concludes that "the
HuIopedu udIlOnS whose money is so heavily
discounted are bankrupt, and the business in
terests know it. The solution will prob
aoIy nave to come through the people in Eu.
rope going to work and making something we
want and exchanging it for something we
have and which they want
But Ito tell them to do this is much easier
than for them to do it," the SPRINGFIELD
REPUBLICAN (Ind) reminds us, for, .
quote the CHICAGO JOURNAL Dem. }.
time is needed to turn war factories hack
TO peace factories" and 'men from the
trenches could not at first bring themselves
TO go back to the humdrum life of civilian
WORK. ldleness has been the rule and NOT
the exception adds the BIRMTNGHA
NEWS (Dem.) "the socialistic idea. for one
thlng, has demoralized vast European nonu
lat1ons." But the SALT LAKE TRIBUNE
lRep) calls attention to the fact that
europe cannot return to work until "they
succeed in financing their home industries
to such an extent that they may he aha tn
import the necessary raw materials" and the
NORFOLk VIRGINIAN-PILOT lind nnn !
remarks that French industries are do
pendent almost wholly for their raw ma
terlaIs on America
Ihls means that We must furnish raw ma
ter1als on credity thinks the NEW YORK
JOURNAL OF COMMERCE Ind.) "If we
expect to hold the sound elements of our
business abroad" it says, 1--WE shall have to
provide for financing them" Or, as the
DALLAS NEWS lind. Dem.) puts it:
The part to be played by America is evil
IDENTITY that of thrift, well-advised investment
III foreign loans securities, and the pro-
purposes of reconstruction That of Eurone is
purposes OF reconstruction. That of Europe is
Whole-souled effort to get back to a normal.
healthy, productive basis. Neither America
nor Europe can do the whole thing alone
Inough each can do what will make it pos
SlDIe Tor the other to save the situation
But our terms for foreign credit arc nretty,
SUN, and the LOS ANGELES TIMES find.
Rep') goes so far as to express 1.-THE opinion
that reason for the present crisis is found
IN the profiteering by some American finan-
ciers."
however. is there silver lining to tbis
CLOUD? With our shelves well stocked and NJ
1orelgn customers, will not prices here take =.
tumble and drag the H. G. of L. down "TTr]
qer such conditions" declares the CLEVE-
LAND PLAIN DEALER lind Dem ! tIou,o,,
prices are bound to occur" and the ABKHN-
SAS DEMOCRAT (Dem) things ''the dollar
VIII recover some of its old-time purchasing
power, which means relief to those who
nave suffered most from the present situa-
s sion: me saIaried workers and those with
1lxed incomes of small proportions"
On the other hand, as the FORT WORTH
STAR-TELEGRAM 0nd. Dem.) cautions us,
"nen foreign exchange begins to send the
cost OF living down to the bottom-if that
happens-it will begin to close nm factories
and send prices of the products of the farms
and the mines down below the cost of produc-
ton, and that in turn will begin to put men
out of work and send wages down as well
: 1t doesn't make any difference how
low the price my be if you haven't got the
price. So thinks the TACOMA NEWS-TRI-
BUNE Qnd) too: Goods made for foreign
customers will be thrown on the market
prices will drop with a crash and mills and
factories will be obliged to close" "a mod
crate checking of the flow of exports would
not prove unwholesome," thinks the CHAT