Amarillo daily news. [volume] (Amarillo, Tex.) 19??-current, 1920-07-31

tour Of Eurup, duriHs which b, visited
Gu1t Britain Belgium France Hnl
iani NORWAY. sweden. u,umaIN. Gor.
wr1v Iui other Douutrio, Nj. Lcl'orr
n.,1 exceptional opportunities Co. m"''
leading nrlu..rs m these ,utw'ri,.
On briefly IrNl'Wng these conditions
Nr I.puru had th, fHIl,wiug ip say
ThU, 5000 several D,iprs OF such uH.
certain and uud,t,rminlblo effect upor
ihr general international financial
structure u Europe that only time and
pltigui .ifuu win mJh' apparent tho
trend 90 ultimate solution Among
thee factors may h' mentioned the
thrunG of gud and as concentration
900 90, hands of relatively f'N nations.
De- shUlmg oi wealth from ono SIT 81
individuals tH another within nations.
the increased standard ,t liying and
consequent abnormal iu,r,Is' in wag's'
the doyr,afc On efficiency ct iohor, thu
probably iutlitIil, r,>tIudlrjiling ~
fixed ,Nthlnr. values. jhH general in.
ilainn ~ currency and tho largely IL
creased security therefor. th' decrease
IN gold RESERVES, not only national. hut
provincial Dnd lUT,l. the lo-s IN man
power especially within th" "prndu'.
tive ages" twenty Co forty tive year.;
the dr,r,as, in birth rate. boarding lt
precious metal currency: tn desiru
ii0n and wearing out of essential means
~ transportation. tho possible ubsp'
essence of some % tho former means
& transportation and m" urgent d.
mand of development ut new means
i especially a,ruuautics. the obvious oN'i.
! reaching IN the evolutionary process nf
| dcmorratiyng oi nations such over
l reaching leading ~ revolution. the IS
| tnhlishmDut of many new nations and
| the revision 81 houndlrirs under a."
| theory ,f spltdetormna'icn. the pres.
mt iuadcquocy of old fixed incomes.
| the growing Importance of Asia,ic in
| nuonces On world economies. These are
| only Few of tho more important Ia.
tors which make toy great complcNity
| Ia anglYzing the financial fluN ~ the
4 countries 81 Eurppc and sp,Cui1tirr
upon ~, means hy which th, tuthid
| mass may o. clarified : few IT th's'
only can o., touched upon in hri
review.
| "Honfding This seems to the aver.
| tcc mind a very minor factor. But
| when one considers the enormous
amounts 81 silver bullion which Great
| Britain has poured into India In IA"
pact half century and is prompt di,'
| appearance from circulation as soon -
Il was coined the conclusion o. arrived
Il and confirmed by Indian economists
that were all tn" boarded wealth -
India deposited In the hanks of that
country and modern banking methods
permitted to operate in the uso oi this
wealth India would promptly take it
place among the wealthy princpaliti's
u the world and lndii's apparent pow.
f,s would De- turned into arflucnre.
| In some e the countries involved
IN The World war. a. socn as r'yerses
| 'u their respective armies occurred. tho
psopie began to hoard gold and silver.
| In Germany and Austria -spcJi ali
coins II precious metal totally disn.
pearrd floin circulation. This boarded
wealth viii not ccmc into circulation
while The questions ~ fixed Indemnity
md internal taxation are unsettled IS
human nature ~ alike thu world over.
| Furthermore. "a capital tax may easily
lo svadod by huardcrs II wealth and
the tendency o. such evasion j. height
| ned us their savings and investments
In var loans have been made uraoti.
| ally worthless and th,y and the men,
.ers 81 their famili - have endured sui
'erng. sDuuws and death Whgn this
J loauicd wealth again comes into ,ir
1 a.
oluii,n 81 European problems. hIt VIII
| gain disiurb--hut this TIM iiyorlh.v
the ratio ~ reserves o. circulation.
The decr,aso in the efficiency Il
iabDr b. one a th' greatest impcllm'ni.
20 an early resumption oi normal trade
relationships lilt when the brain and
lawn 81 the world through those i'm
pfcs-iuuahle years 20 Young m1nhoo
are turned from constructive effort and
development o. destruction anil toin
iisr.Elri f0r he and property except
niy tho tendency towards ~ d'-truc
imn o. requires patience and time ~
ncrmii these young men o. learn uueA
r perhaps GO l.ltn for the fr.t time
what building up means Instead -
tearing down. Thee young men have
'snrn'd the value 90 orgauizitlOu
Trough their var 'xpcricnc, and With
b, confusion O mind in whl,h ihct
Ind thrma6lvcs. are IN conreguenco au
asy conquest for tho radical aEitntou
suggesting organization fuF yo.ousiy
.'lfish Interests
Having been VOL clothed and wei
fed-mlry ~ ihsm fnr ths first tina. On
heir uys--hafinr much leisure and
WINS OIf doors continually reysrViu
70 fh. ,Hrdlt.rns 90 tho shop. mine 81
factory and tn frequently sorld Dr.
; iustfal community qu,isl llfn d0-s n''
, ppai i0 90. men who have .sr,sl In
.he army CO.. navy anI nuiy tI1s ana
I''f0r uutur c.rd'.ars vlI rnoiy
ihis
-Thr r.tludauiizing 20 ,N,haugI
aiIo. Is complex rtaulsm Boz which
rflatinn NJ rlIr,rlIr- viii hriT heavily
Greet Britain. 90 900 th, countries 1'
{ tar. uil ane "a nsriUd. possibly ,siIh'
lfh tlf D'f gmHi tKrLauge VALUES
. Hhlf fhs .thfI participants in tho con
+, nirt and many Of ths ueutrals Will nssd
, t0 rs,isa th'ir business intercourse wiz
! Other nations an new bases. due O. d.
b ITerlaiion ~ their monetary values
! oauEed b. depletion ~ their gold o.
srtes.