New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-09-11
Guarding Our Industries

%SU@A 0A3A& OUE industries
How many Americans have rea-
soned out what is going to happen
to this country when Europe really
settles down to the job of paying
of the debt she owes us?
In round figures that debt amounts
to some ten billions Of dollars. It
can't be paid of with money, for
Europe couldn't raise sufficient gold
for the purpose, and if she could we
wouldn't want it. There is only one
kind Of payment possible. This con-
sists Of goods and other commodi-
ties produced abroad at far cheaper
rates than they could be made in
American mills at American wages.
If this vast stream of cheaper
made European goods is permitted
TO enter the United States for dis
tribution and sale here it will mean
hard times for q great part of our
industries. To prevent our own do
mestic market from being swamped,
70 prevent our mills from closing
down, to prevent idleness, with stop
page Of wages, the oncoming torrent
Of European goods must be DETECTED
ut American ports, transshipped
there, resxported by us, and sold in
foreign lands-Ain South America,
Asia, Africa, wherever demand
exists for such manufactures.
The torrent of merchandise from
European countries has not. set in
yet. It surely will set in IS quickly
as Europe resumes industrial &C.
tivity, Of which signs are not lack
ing, especially in Belgium and
France, as all returning travellers
tell us. We cannot afford to inter-
rupt the stream unless we are pre-
pared to cancel Europe's huge in
debtedness to us, for in no other
way can this be paid off. This
situation which America faces for
the first time is clearly and graph
cally touched upon in an address
before the Engineering Society Of
Philadelphia, delivered by P. H. w.
Ross, president of the National
Marine League of the United States,
: excerpts from which are printed
elsewhere on this page. In his ex-
pert opinion there are three out
standing issues far more important
than any others in the American
political economy Of to-day;
:: !. The continued operation of
American ships, whereby the trans
portation Of American products to
new and old markets may be abso-
lutely within our own control.
2. The establishment of free ports
In the United States, so that most
OF the products Of other countries
that we shall have to accept in pay
rnent Of foreign Indebtedness to us
"may be conveniently received,
worked over, blended, repacked, re-
labeled, transshipped, resxported,
and finally marketed in other coun-
tries, all this being done without
seriously disrupting the course Of
our own domestic trade as it now
exists under policies that have pre-
vailed for sixty years.
3. The entrance by America into
some form Of international league.
III for no other reason than to have
ready and friendly access to our
debtors and their affairs" Every
one liz willing to be kind, humane
and even generous when there is
anything to be generous with, Mr..
Ross continues. But one really
serious thing Is that money talks"
And IL money does talk, and every
dollar has voice, he adds, "behold
q chorus Of ten billion metallic
voices from abroad calling upon us
Americans not to desert them, but
20 come over and see it through"
Sound, common sense is this from
the National Marine Leagues presi-
DENT. 1t should be considered by
every one who has a thought of
voting for Governor Cox.