Evening star., 1920-03-10
Mr.. RA|NEY SEES
TROUBLOUS TIMES
IN HIGH COST WAKE
Sounds Warning at Meeting
of Washington Chamber
of Commerce.

4 warning to prepare for the
crash" which he said would in
evitably follow skyrock citing prices
ana wages. was sounded by Repre-
sentative Henry T. Rainey of Illinois
before the Washington Chamber of
Hotel last night.
MANY will be hurt in the crash" he
said. but it will mark the return to
normal conditions and prosperity for
the country. History repeats itself. 1t
Will be true in this instance. After
the crash of rs the country lived in
the most prosperous era known to it.
The same conditions will follow"
Exported Goods Coming Back.
Two billion dollars worth Of Amer
lean goods are crowding the harbors
OF Europe. he declared. On account of
the rates of foreign exchange they
cannot be disposed of. and even now
ships are starting back to the United
States with the same cargo which
they took across the sea for disposal
Many tons of cotton are already re-
turning. The rest will follow. This
may mark the inauguration OF the
crash, which may come at any mo-
ment. Representative Rainey said.
''BuSineSs men of the United States,
he declared. must study the financial
problems of the world and the re-
suits of a possible union of Russia
with other countries of Europe and
Asia. and even with America, upon the
money market of the world. If such
union comes about there is a grave
danger that platinum will take the
place of gold as standard of ex-
change.
This country must produce more
and the countries of Europe must
produce more if we are to return
to the old system of exchange. The
na nf
produced in seven months of the year,
leaving five months for the produc-
tiun of articles for foreign trade. We
must continue our aid to the countries
of Europe if We are to regain any or
the money which we have loaned to
them
Warns of Trade With Russia.
DR.. E. 4. Egbert Of the American
central committee for Russian RELIEF
warned against the resumption or
trade relations with Russia
DIR. Egbert said there was danger
Of the union of bolshevist Russia
with Germany and Japan, forming
thereby a nucleus of an alliance
which might be looked upon with APP
prehension by the business men or
the world He said that Russia. in
the grip of bolshevism. presented no
safe field for the foreign trader. since
that controlling power gave no as
surance of reciprocal responsibility.
He also said that the resumption OF
trade relations with Russia would
open the way for propaganda In TINS
country looking toward the over
throw Of the government and the
contiscation of capital
Trading with the soviet govern
ment," he said. would not be help
ing the Russian people. but would be
in the interest of a separate clique,
which is in the minority
President Robert N. Harper of the
chamber and Secretary Arthur E, Scy-
mour. discussed the need Of Large hall
in this city for the accommodation of
conventions
President Harper said that concerted
action soon would be taken by business
men to bring about the erection Of such
a hall. Thirty-fiVe national and inter-
national organizations have arranged to
hold their annual conventions here dur
in the coming two years. he said.
The appointment of the following spe-
cial committee to consider proposed
child labor legislation was announced:
Harry King. chairman Charles 7.
Ciagett, w. F.. GUIDE. G. A Lyon, A u.
Marks. Miss Mary O'Toole, E. c. Rogers,
Z. ID. Shaw and +. c. Steward.
President Harper appointed the fol-
lowing as judges in the $500 prize es-
say contest fo- members and prospec-
tive members of the chamber which
will close April 80: G. A. Lyon, J. Lynn
Yeagle, c. N. Odell and ]. l. Belt.