The Seattle star. [volume] (Seattle, Wash.) 1899-1947, 1920-12-14
BUSINESS CAN'T FOREVER
BE ON THE uPSNi>G

nj Vs> u ffttt
There Is nothing TO be gained by
getting blue because business cannot
continue forever on the upswing. II
never has and Il never will. and II
We lock al the best interests Of the
country. we must be forced 90 the
conclusion that 1t u time a halt was
called.
A generation or 10 ago our bust
ness affairs were local TO this Side OF
the Atlantic. Today they arc inter
national and II We are To continue TO
endlexsiy boost the prices Of every.
thing THAI goes into manufactured
producs. the time viii soon be- reach
ed when other nations win underseIi
US IN the markets OF the world.
Tho preservation Of our foreign
markets il. " anything. more import.
ant to labor than Il Is 10 the owners
Of Industry. and the important fact
to everyone. labor included. Is what
the contents OF the pay envelope win
buy In the way OF comforts and hap
plness
II Is far better TO keep the cost OF
comfort and happiness on a basis
where Il can be purchased In this
country for no more than il can BE-
bought abroad.
LABOR, CAPITAL
Will. LOSE
n we DO not do this. other nations
VIII underscil US In foreign markets.
and both the labor and capital OF
this country win lose that part Of
their Job which Is represented BY pro
ducing manufactured goods which
m cold by US to the people OF other
ccuntriex-
During the war the world has laid
~ money on our counters and de-
mAnded our goods because We were
The only producing nation In posi-
ton to supply their wants. This %
Rod has ended and trade viii return
b its normal condition. which means
that we must compete for foreign
bppincss.
While this period Of rcadiustnent
= going on. sorne people who have
been skating on thin ice may get
their feet wet We win no, have a
panic in the old acceptance OF that
term
The term -panic- In days gone by
hAs been associated with an actual
Inability 10 get a recognized circulat-
ing medium. The ignorant have BE-
aeiexed the banks for something they
could TAKE home and count.
That was because we had a poor
banking system
WILL PREVENT
a JOLT
With the federal reserve system
IN action. the necessary circulating
medium can Be provided and the
brakes can be applied with sufficient
care TO prevent everybody from b.
ing jolted out OF their seats
Our blessings have been recountrd
- often that everybody should know
them by heart. but when a man feels
blue about the future OF this coun-
try, II II wise 10 sit down and count
them over again, recall the days DO
fore the war, when the people OF the
United States owed Europe vast
sums for money loaned To VA for the
purpose OF developing our resources.
and when we sent hundreds OF mil.
lions Of dollars year abroad to pay
the interest on this borrowed capital.
To-Day that debt Is paid and We
are the chief creditor nation OF the
world.
From a money standpoint, We can
look the world in the face. The es-
scntiai thing for Us to preserve IL
that greatest asset OF ali--the spirit
Of America. This country has not
grown great by sitting down and
talking about it's resources. 10 has
grown because It's people have rolled
up their sleeves and worked
SPIRIT, COURAGE
NEEDED
We are in q position to Withstand
9 money panic. and. In fact. any kind
Of panic, except OF our spirit and
courage. When we begin TO believe
that we can produce without work.
and are entitled to comfort and lux
ury without putting our backs and
brains into II. then the danger signal
IL indeed set
The man with the right stuff In
side Of him thrives under little ad-
versity. He cuts out his foolish ex-
travagance and gets down to real,
honest work. And a nation Is but a
collection Of individuals.
Those who are worth whfie will
come thru with a new courage.