Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1920-07-18
From Other Viewpoints
Investment Abroad n Necessity.
Hf GEORGE T.. BOnEtrS.

The International Investments nnd ,r,d.
rave been subjects Of freauen, controversy in
the past They have been commonly r.y,rdad
as the root cause OF all wars and thnra al
ways have been superficial observers who on
posed enterprise and investment abroad from
Tear or the ENGAGEMENTS which Nigh; ensue
The view has had support In a prevalent
sentiment that American investments outside
OF this country were indicative OF n wnn, NJ
patriotism and that such investors me, win
disappointment.
All the normal developments OF civilized ,if.
tend to bring the people together rather ,h,n
to keep them apart. to reduce and remove The
barriers which distance and natural conditions
nave created. The remedy for international
MISUNDERSTANDING therefore, Is not To no
found IN Isolation and nonintercourse which
are Impossible. but in more intimate relations
and greater community OF interest.
Capital invested abroad is not los, TO the
home conntr%. Not only is 1t opening UP new
opportunities for the home ma rke, hui i, 10
usually engaged In increasing the supn,v ~
products that arc required In the home mar
het Moreover. the world is interested that
the staples OF commerce shall be produced
ically
The added supplies Of food and raw mate
rails required for the worlds Increasing popu-
lation are obtained most cheaply from the new
countries which have unoccupicd lands. virgin
forests and unmpaired mineral resources
These countries are lacking capital and mus:
he developed from outside. They need popu-
!ation also but they need the agencies and
equipment Of transportation and production in
order TO give employment to an increasing
population. They need new capital along with
added population In order to make the popula-
ton effective. The countrics of South Amer
lea IN this situation.
Then there are the countries which already
have large population, but which are undc-
veioped industrialiy and whose production IL
low because the methods of industry are prim-
tive. Russia and the countries or Asia are
examples OF this state. The production OF
these countries might be greatly increased to
the advantage OF their own people and OF the
rest OF the world by modern Industrial leader
ship from outside and the capital. OF course
would be largely In the form OF equipment
produced by the industries OF the more adj
vnnced countries These countries OF diTcrcn,
stages Of DEVELOPMENT need each other IL can
tll flows frcey TO where 1t will produce the
larges, results.
The field in which capital is most needed at
the present is Europe. The people OF Europe
are trained "a industry: they are skilled and
efficient In all the arts. The war dsorgan ized
industry TO q sad degree. Not only was there
2 great destruction of property. but there was
4 serous deterioration OF equipment every
where. and particularly OF Transportation
equipment. The currcncies deprec!ated
credit is damorali2ed. raw materials are want.
II r. and the people are suffering for clothing
and food.
There is work which these peoples must do
which nobody can do for them. They must