Deming graphic. (Deming, N.M.) 1903-1948, 1920-02-03
LET EUROPE STEW

Judging from editorials in the daily
press. many are concerned over the
present state of foreign exchange. 1t
occurs 10 the Graphic that some well
meaning individuals are unduly exer-
ci~cd and in their alarm are playing
into the hands OF foreign governments
who are busy distributing propaganda
which has for its object the mulcting
If Uncle Sam OF good dollars TO revive
the fainting pounds, frame and Tires.
II the pound deprecated 26 per cent,
A. Is for the very good reason that II
no longer has sufficient gold reserve
hack of il. This. naturally. means that
depreciated money cannot have the pur-
chnsing power IL had before, and cOun-
tries with such currency find II hard
Ia nav for purchases In this country.
Rut the truth is that they get their
moneys worth and no more.
The United States might get behind
This inflated currency with its goid
reserve and make IL worth what II was
before the war. But that would mean
Inons that the nation cannot AFFORD To
mako nj This time. We have dents
,nourh Of our own. II Europe cannot
raw full value for goods here, let them
"a without The goods will then come
lack TO American markets and VIII
! ring down the cost OF living To % rea-
,noblo basis. Just now American are
idding against Europeans whose needs
r-e so great that they are Wilde !"
nv more. OF course, our export trhue
,rould suffer. but IL would tend to sta
b1ize demOralized mrket. III ISL
cir IN furnish Europe with the none!
4, bid against American consumers
There is danger, Of course, oil a
..,rnlus of commodities, but just no"
r.nrchondisers In all line would be very
.,od IN hny more freely II they could
.,,t delivery, not to speak OF cneapel
u,ices But further demoraliNi'lol
wonld result when deprecated none,
is able to purchase equally WIN soul'
,,onev N3t only would the govern
,,,cnt obstinate it's funds, Furnished ny
t,vnavers. hut still higher prices woui'l
,.snlt IN American consumers. rms y
r,st what English and French anu
Italians are seeking. And II II ~ lru'
tsnt industrial conditions are gong
~ in Europe. It is just as wei tlhll
t-ncle sam consider well his loans. we
Nv need the money ourselves.
II is ND 10 Europe to work out lt'
,-,r salvation. which Europe isn't go
ig 10 do 80 long as America Is Willie
sbore the burden with them. Eu
means will have to deny themselves
anv things they really need; the!
IN have 10 make the goods 10 eN
,,nnre for American goods as III Tor
or wears they will have to work am
,ild again their gold reserves.
II comes with III grace from TN
rench that they look upon Herber
IIoover with displeasure. They Sa!
,hry drnended on him for cer'ali
,bines which he didn't make good "
course they did, and they are sor'
,bnut IT, They expected Uncle sam u
feed their starving and furnish TN
money To rehabilitate themselves ier
hort Hoover Is the one great mah-
brsiness man. IL you like-that IN
nrosent administration has produced
lie was the man with the GRAND
mercy hut when he unlOaded his ZOO
.hius he cleaned Europe plumb cie',
~ every kind Of good money. He MAD
tbem nay and pay to the last Genuine
mark kronen and what-not. Herber
Uoover is the one man who knew a.
Tho ius 81 Europe. hut didn't lose sign
~ the k-nlckels for one blessed me
mont Now the sob artists OF IN
rrvan tyDe are trying to discredit MN
hut the Graphic VIII say right nov
that ne has more common sense ina
any Democrat now living. and IN
lone more to protect American poke
hooks than any of the MASTERS Una
b,ve felt 50 free 10 squander pubn
money Herbert Hoover Is credlte
Win having cleaned mp ten millions
,,,oJ iron men before he attained III
re Of thirty years. He knows how
lcok after the dollars; he isn't pol
tician. but the Democratic party WI
iook n long time before they ma n
letter. and the Graphic doesn't mol
brief for him or any other Democr'
at that.
In this. as in other fields, the NOR
g. IN keep clear Of Europe. III r'pro,
mes under. we don't want to share u
rash shallow politicians and SIN
pering sentimentalists are doing me IN,
hest 10 get Uncle Sam Involved. "
need n few good business men OF ~
our affairs; Lord knows we have III