New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-01-04
America Faces Its Greatest Opportunity

the responsibility for the granting
Of credits to European and other
countries rests upon America alone:
far from II. The peoples Of Dor.
rowing countries, as have already
stated, must share the responsibility
as well as the benefits, Of such
credits. It is certain, for instance.
that American investors will be
more inclined to lend their dollars
to those countries which have stable
political conditions and governments
which are imposing adequate taxa
ton in order to meet their financial
obligations on sound bases. It is
necessary, therefore, for those ma
lions which seek our monetary as
sistance to assure us not only in
word but also in deed that they
merit such aid. AS policy Of self
protection, American , investors
should, and undoubtedly will, be dis
eliminating in the matter Of foreign
investments. Europe must appre-
ciate that fact and meet the de-
mands Of America if it would have
America meet it's demands.
Political stability, social order, re-
spect for the rights of property
and sound financial program
should, Of course, underlie any re-
quest for credit. That these will
follow the convalescence Of a world
now emerging from five years of
war fever may reasonably be ex-
pected of the nations as a whole.
Duty and opportunity must then
guide the way to service. And 1920
should start US well on our way into
the new era lying before Us and
along the road Of our manifest des-
tiny. Before such possibilities, po-
litical differences and personal am
billions seem petty indeed.
Government Cooperation
Is Essential
In working out such a program
the intelligent cooperation of our
own government must be given. and,
where private enterprise fails, our
government authorities should take
the initiative to assume the respon-
sibility which may we'll be too great
for private capital to bear. Such
a policy can be pursued by the gov
eminent, acting for all the people,
in the national interest, in the full
assurance that commensurate bene-
fits will follow. To the cotton grow
er, the wheat raiser, the ranch
man, the farmer, the manufacturer,
the merchant, the laborer and the
investor these benefits will accrue
and national prosperity long con-
tinued can be based upon them.
The United States stands at the
beginning Of 1920 in some measure
where England stood after the Ma
poleonic wars, and if we, her people,
have the courage and imagination to
push American capital, American
shipping and American enterprise
around the world, as England did in
her great hour Of opportunity, we
can reproduce for ourselves the
golden years Of England's Victorian
era. Such an achievement demands
the close cooperation of government
and business, the protection of the
American flag for the American
dollar, the dictation Of economic,
rather than political, considerations
in public affairs. New and better
standards Of living, fairer distri-
button Of wealth, juster bearing of
) burdens, increased powers Of SER
vice, a further spread Of democratic
ideals and the maintenance of eco
nomic and political order through
out the world may all be byproducts
Of our enterprise if we but follow
our vision in 1920 and afterward.