The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1920-05-20


decd, succeed in lowering prices OF
goods already produced and awaiting
mption-inasmuch as one line
Of production largely absorbs and utll'
ICES the products of another, and
since the curtailment of credit tends
to a slackening Of business activity
but there is no assurance that the
lessening Of industrial output occas-
ioned thereby will correspond to the
actual state of demand and the needs
Of the business community.
Our World Problems
"The urgent need for wise leader
ship in the handling of our industrial
and financial problems is not mat
ter concerning only our domestic af-
fairs. We are confronted now with
the unique opportunities for the de-
veiopment and strengthening of our
position in world enterprise. There
is promise of a coming period OF
rapid development Of the newer re-
gions of the world, the storehouses
of the principal natural resources up
on which the industry and trade OF
the future will largely be based. The
more easy and natural we can make
the necessary readjustment in our
industry and finance the better able
we shall be to share in the BENEFITS
of the prospective period of expan-
sion. Elsewhere such opportunities
are being recognized and utilized.
1T is significant to note that, de-
Of
exchange, the volume of British for
eign trade is rapidly approaching our
own, and Great Britain still has the
largest merchant marine, and London
is still the financial center of the
world. There is food for thought in
the fact that the United Kingdom has
taken more than half of our exported
cotton siuce last August; is, in fact,
taking cotton faster than before the
war and is shipping it in manufactur-
ed form to needy customers to whom
the British are supplying the credit
with which to pay for the goods.
Some British Financing
VERY recently the Argentine gov
ernment arranged with the British
government for funds to enable Ar
gentine to liquidate the fifty million
dollar loan which matured here on
the fifteenth of this month. II is
needless TO point out that this ar
rangement is not likely to initiate
against British commercial relations
with Argentina.
And almost contemporaneously there
came from London the authorized an
nouncement that there had been
formed a powerful financial combina-
ton for restoring the industry and
economic life of the old Central EN-
pires. According to the plan, as thus
far disclosed, influential British fl
nancial interests have prepared a
practicable, scientific scheme of semi
barter that will supply central Eu-
rope with raw materials, of which
the banking syndicate, backed by the
moral support of the British govern
ment and strict guarantees Of the
central European governments, Will
act as trustees. If this project sue
ceeds, and there seems to be every
reason to believe that it will, we need
waste little time determining who
will control the bulk of the trade
with Central Europe for many years.
British Lead in Control Of Oil
Early this month the bureau Of
mines sounded the warning that there
would probably be a shortage OF
gasoline in this country before the
end of next summer, as a result Of
the disproportionate increase in gaso
line production and the number o.
automobiles in use here. During
March. for instance, forty-four mil
lion barrels were consumed in th'
United States, which is more thai
the entire world used in the whole
year 1885.
"These are facts which must b.
faced by every citizen who uses an!
petroleum product, whether fuel oil
gasoline or lubricating oil, and thes
| figures raise the question of publ
| policy, for in the matter Of oil tn
United States is certainly living be
yond its means.
"In a report on the subject a weel
I
shipping board. pointed out that III
requirements of the board alone 70
this year are forty million barrels
and for next year will be sixty mi
lion barrels. which must be produce
and transported in special carriers I
selected places around the worlc
failing which our ships become a
useless as painted ships upon pain
ed ocean
ain corroboration of these stat'
ments. few days ago an Englis
oil expert declared that the prospec
i've British dominance in the world
oil market would in a few years con
pei the United States to enrich Bri
ish Golfers to the tune OF many mi
lions Of pounds annually throug
huge imports Of British controlled oi
He added that this situation has bee
well recognized by every one exceI
members of congress and the Amer
can public generally. 1t is high tim
indeed that Americans extend the
control of foreign oil supplies throug
. investments.
America Wake Up
a "While II is true that whereV'
o. natural resources are developed ar
/ put at the disposal of the world
. distinct service is performed for ma
? kind in general and the world as
= whole is benefited, and while the e
4 terprise and foresight of the Brius
+ people deserve unstinted commend
;. ton, the facts that have just me
I toned are such as should arouse I
Y from our comatose state Of snug co
q tentment with our present position al
= future prospects. Unless we n