The Richmond Virginian. (Richmond, Va.) 1910-1920, 1920-03-23
by WALTER LEAF

London, March a0.--The sudden
and very serious increase In the cost
of cotton is likely to hamper, In the
very near future, the growth OF Brit
aims greatest textile industry. This
increase Is quite Independent OF any
question OF exchange; 1t Is due to an
alarming shortage of the raw ma
teriaL
Tho American crop has been seri-
ously coutAiled, and at the same time
the United States Is competing with
Great Britain for the limited crop of
Egyptian cotton. The prospect is un-
doubtedly serious.
Great britain should look to i'm
porters OF .xuries for AN earnest eff
fort Of %/leniai if the British are
to hold + . their heads before the
world aui fare their creditors with a
clear conscience. It Is scandal that
importations OF wines and spirits have
increased when every one in the
United Kingdom should be earnestly
doing his best to set the national
finances on solvent basis. This Is
only part of the whole system of wan
ton extravaganza that Is only too OBJ
vious in Great Britain.
ASKS EXTENDED CREDIT
These things are not done in cor
ner They are discussed in the United
States, as | found on my recent visit
to America The British are at pres
ent in the position OF having to ask
America, in one form or another. for
extended credits due to excess OF i'm
ports in Great Britain.
have had an opportunity for dis
| cussion with many OF the leading mer
| in political thought as well as ir
| finance, alike in New York, Washing
| ton, Boston, Chicago. There ~ clearly
| a revulsion in America against Euro
| pean entangIenents. or the tradi'
| tiona! boastfulness OF our American
| cousins saw nothing; I never heare
more eloquent eulogy OF England
| than from the mouth OF Chicago
| banker who held an important post
with the rank Of hrigadier-g general II
F. the American army in France. Wher
the talk turned to European man.
dates. he had rather to complain o'
! American modesty--a reluctance tt
take any part in European admins
tration on the ground that the United
States had no trained civil servant.
capable of the work. And 1t ID clear
that in this direction no help is to be
| looked for by Great Britain.
'HARD TO FIND REPLY"
When 1t comes to question o'
credits. the American attitude Is dis
tinctly critical and suspicious OF
Great Britain's expenditure on luxury
all the more because Americans
have imposed upon themselves the
severe restrictions Of the prohibition
law. I have found 1t difflcult to reply
to this:
Generally. the attitude taken In
America la that summed UP by Mr.
Hoover. that the remedies for Europe's
own troubles are in Europe's owr
hands, In it's own resolution TO work
and save.
am entirely In agreement with the
view that 1T Is neither prudent nor
consistent with British dignity as g
great nation to go to the United States
with petitions for great loans to heir
the British through, / cannot helr
expressing my regret that appeals
4snssssss. have, s.saen,e recently rnade. foi
operation by their VERY magnitude.
GOOD FAITH IMPERATIVE.
50 long MS Great britain takes the
bold stand that Il means to pay lite
debts and that It II anxious to CO.
operate wit hthe United States in tho
great task of the restoration OF Eu-
rope, I have no fear either OF the 1oss
OF its commercial ard ffnanxao} pines
In the sun, or Of any serious diScord
between the two great Anglo Saxon
nations on whose friendship such vas'
Issues depend.
II Is necessary, too. for the british
TO take d wide and humans view, 1
generous outlook which tAlx~s cog
rixance sof more than the passions 81
tho moment h respect 10 the lntsr-
national position.
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