The silver state. [volume] (Winnemucca, Nev.) 1909-1925, 1920-12-16

Switzerland is very high and costly.
we are told that conditions are
most deplorable in Austria. Hunger,
poverty and bolshevism rule. In W.
emma every day $4,000 homeless chill
dred are fed by the city. These chill
dren are in most deplorable physical
condition from the effects of war.
Half fed and clad. they are small In
stature and a great many are tu-
bercular.
"Czeko-Siovakia seems to be UNDER
going . reconstruction period and as
soon as its government is stabilized
1t should be a prosperous country.
German factories are still idle and
II is going to be impossible for them
to meet their indemnities unless
credit is extended them so that their
factories may resume work and pro-
duce.
Belgium. strange to say. 10 found
by our economists the best on Of any
country on the continent. Her little
army OF men In the beginning Of the
war were practically annihilated.
From that time on the Belgian people
were unhu. rather held in confine.
ment Not many Of her factories
were destroyed. save those close to
the German frontier. !,
Summarizing the economical situ-
alton of America and Europe, we md
on one hand America commercially
wealthy with her warehouses over
flowing and her consumption made
Quate to meet her production. On the
other hand, we find Europe bankrupt,
her factories idle and carrying an az
gregate debt Of some seven billions
Of dollars. q great part Of which is
due the United States.
What Europe wants Is credit and
the most apparent thing that I be-
lieve the United States needs is a
market in which to sell her raw ma
terial. II most of the raw material in
the United States is not marketed
within the next few months, instead
of having the crop OF 1920 IN hand
we are also going to have practically
two crops on hand. and with this sur
plus we are sur to have a most seri-
Gus economical condition, with low
prices and thousands Of unemployed
people. When / say low prices l
mean such prices that are far below
cost of production and the wage earn
er's pay equally as low.
However. l believe 1t lies within
the power OF the people OF the United
States, to a great degree. to remedy
existing conditions and provide for
future prosperity. Europe is clamor-
ing for credit and wishes to buy from
but has not the money to do SO.
The United States is perfectly able to
extend this credit. In my opinion.
the problem can be handled some
what In this manner:
"A great movement is on foot and
being strongly advocated by many Of
our greatest economists and best I'm
anciers that q national financial cor
poration be organized. capitalized at
a hundred million dollars. The stock
is to be sold either to the banks or to
the individual. which will be deter
mined by congress later. Congress
will have the power to IKE the rate OF
interest. The stock In this financial
corporation will bear interest and
also AZ a guaranty Of payment, either
by the government or some other
satisfactory condition.
The hundred million dollars is to
be loaned to Europe with which to
buy our raw material. OF course the
capita lization Of this organization is
only q nucleus to start from and bill
lions Of dollars worth Of trade will be
contaminated upon the hundred mn
lion dollar capitalization of this cor
poration. BY this means II is quite
apparent to me that we car solve or
at least partly. relieve the condition
which now exists In this country.
Il am fully satisfied that had steps
been taken along these lines a year
and a half ago and a financial cor
pOTdtlOu UCCn OA6oniLCu thCic WOoAus
by no means. at this time have been
the large surplus Of raw material on
hand and lack of demand for the
same, and we would be enjoying
greater prosperity than we are at the
present time.
II fully appreciate the fact that we
are entering an era of reconstruction.
Our task is no small one and not to
be accomplished in a short time. 1t
is going to require assistance from
every line Of industry and the Co
operation OF every thinking citizen.
be he a producer or consumer. We
should let our political a~fhliations.
whatever they may be. fade in the
past, urge our congressman to fully
support the new administration In re-
constructive legislation. and II these
lines are followed out, 1t 10 my SIN
cere belief, our present depression