Evening star., 1920-01-04
AMERICAN DOLLAR
SCANDINAVIAN HOPE
See Power of U. S. to Either
"Make or Break" Mid
die Europe.
BY HAL O'FEAHERTvY.

pecinl Cablegrnm to The Stnr and
chicago Daily News. Copyright. 1919.
CHRISTIANIA. Norway. December
o.-When America begins the Her
ulean task of restoring middle Eu-
'ope's financial and economic situa-
ion Norway and Sweden must be left
put of the plans except as inter
Mediate points for the shipment OF
-oods or minor agencies in handling
.reditS While it is true that Sweden
an help greatly by supplying iron
re, this product will be purchased
18th American money So far as
or~ay is concerned. her contribution
$ nil.
After a ten-day study of all pos
blc methods by which the Scandi-
avian countries could share in Amer
cas- burden. only one bright hope
DpearS. When America upholds Ger
lan and Austrian credits and helps
he various industries it will react
pon Sweden. Norway and Denmark.
nd then these countries will take an
lcreasing share in relieving the
,ress. Summarizing the various SEN
imentS expressed to me by states
zen, traders, bankers and scientists,
find that they all agree with Win
ton Spencer Churchill's statement in
ne whole task of middle Europe s
estoration rests upon the shoulders
E American financiers. They do not
at it just in that way, but when they
ay countries which suffered least in
he war" they mean only the United
.ateS.
Willing to Wait for America.
They speak largely of reconstruction or
3 impending calamity if reconstruction
Ills. but they give few reasons for any
nyernment on this side of the Atlantic
aging an altruistic role. They are
erfectly willing to wait for America to
egin operations. This does not mean that
ne Scandinavian people have no sym
athy for the peoples of central Europe
Yearly every newspaper in Sweden and
Jorway is printing appeals for charity
oward Austrian women and children,
nd these countries are sending train
lads of food supplies and medicine; but
hen it comes to bankers or merchants,
ley assume a look of black doubt when
e suggestion is made that they eX-
nd credit to German or Austrian
ms.
one great firm in ChriStiania donated
huge sum of money for the relief of
e suffering. but would not think of eX-
cnding years credit to merchants in
province where starvation exists
hroughout Scandinavia there is de-
.ded tendency to create markets in the
one countries. The Swedish bankers
re more than willing to supply credit
, their own merchants. but hesitate to
rant the same privilege to, Danish or
,o-weCian merchants. In Denmark the
aukS. apparently overloaded with
roney. are granting liberal terms within
,enmark but have absolutely lost falth
= the soundness of outside operations.
Will Build Larger Harbors.
Tremendous plans are being formu-
,ted both in Norway and Sweden TO
large the harbors and docking ia
li.tieS to care for the ever-increaSIng
rade Every one is looking forward
- the day when Americas great new
lerchant marine Will ply the waters
# the North sea ana the Baltic, and
sc the kiel canal intenSively in the
rade eastward. They plan to de-
alop water power so as to electrify
ne railways to transport cargoes
cross the country from Christlansand
o Stockholm or Maine. But all these
alans sem to be hinged upon Amerl-
m altruism and her Willingness to
ebuild the whole of middle Europe,
stablishing the credit which disap-
cared during the war.
Several Americans representing
manufacturing concerns are spending
he Christmas season in Christianla
hey have JUS returned from Ger
ANY and AuNria and they declare
i,at every deal they made in those
ountries depended on long-term
cedits. For the most part they had
refuse orders involving millions OF
oiIars and trade extending over
leriod of several years simply be-
i-ause all countries are holding OFF un-
il the great banking concerns ex-
sress confidence in the political and
conomic conditions developed since
he armjStice These Americans have
ally been doing pioneer work in the
ate enemy countries. They have been
,.ceking new business, several OF them
aving entered Germany few
nonths after the armistice. They are
onvinced that America holds the
1ower either to make or break middle
europe For Americas own future
elfare they hope that the American
ollar will save the situation. But
hey know that it will be America
lone and that in the fight for
uture export trade from their coun-
ry she will be practically unassisted
nd will even be forced to meet op-
: -osition.