Evening star., 1920-02-14
BY WILL p. KENNEDY.

What can be done to solve the very
serious situation regarding interna-
tional finances, accentuated by the
sharp decline in exchange? That Is
the question that is being asked of
members OF Congress, and especially
those members who have the most to
do with regulating the financial poll
cieS of our erment-members of
the ways and means. appropriations.
finance. banking and currency and
commerce committees.
Careful poll of these committees 3
show that the members. while realiz-
ing that extreme care must be taken
to avoid financial panic, which
might easily be started, and that the
United States must practice strict
economy to prevent this government
from being swept into the same finan-
cial maelstrom as now is seethlng
in Europe. are not at all despondent
or gloomy about the international
situation.
Instead of wringing their hands
about conditions that cannot now be
helped. they are planning and sug-
gesting a course of action that will
restore a financial calm and bring
back good old days of peace and pros
perity for all the nations through
practice of the homely. old-fashioned
and effective measures of hard work
and horse sense.
Program for Whole World.
1t is program not only for Con-
gress and the business interests Of
this country, but for the European
countries that are in troubled days
and for all the world. Here it is:
For the European nations
Get to work.
Shut off emigration SO there will be
people to do the work.
Let the depreciation of the curren-
cy get to rock bottom as soon as pos
sible.
Don't cripple Germany industrially
or she'll be unable to pay any in
demnity.
Levy taxes until they at least meet
current costs of government.
For the United States
Sit steady and don't rock the boat.
Help to stabilize currency through
out the world by maintaining stable
currency in the United States.
Buy all that we can from Europe
and sell less: they cannot pay in
money for what they need so let them
pay in raw materials.
Use the raw materials from Europe,
multiply the wealth by manufacture,
and so keep home industries hum
ming.
Quit preaching and talking Inter
nationalism" and practice nation
a!ism'-internationali is state So
cialism.
This program represents the views
of leaders in Congress who have been
in closest touch with the situation
and who have given careful study
to the problem-such men as House
Leader Mondell, Chairman Fordney of
the ways and means committee,
Chairman Good Of the appropriations
committee. Chairman Esch Of the COM
s-Aa
merce, Chairman Platt Of the bank
ing and currency committee. Repres-
entative Robert Luce Of MasSachus-
etts. a member of the banking and
currency committee who has been q
pioneer in impressing the danger Of
a financial panic upon his colleagues.
and William r. Green of Iowa. rank
ing republican on the ways and means
committee. and Representative Mar
tin b. Madden, a member of the Iegis-
lative steering committee.
"Wofk" Ii Essential.
Those countries that are sitting
back waiting for other countries to
help them must be made to realize
that the only way to restore order in
pie. the only way to maintain credit
at home and establish q little abroad.
is by adopting and adhering to- q
policy that will require the people
of Europe to get to work.
The rehabilitation Of each country
will depend upon the industry with
which each country assumes its own
tasks No country can come out Of
the chaos except through its own
exertions.
The Impoverished, bankrupt. sham-
bled condition Of the nations Of Eu
rope may be discourasing to the peo-
Pile They see a long hard grind
ahead. For those not fired by true
patriotism-the love of their home
land-there will be a disposition to
emigrate to other lands. especially to
the United States. This must be dis
couraged. for the home countries need
their toilers to rehabilitate agricul-
ture and industries and their citizens
to repopulate the lands. America does
not need and does not want to drain
the lifeblood of Europe.
There has been much concern
about the break in exchange. The
depreciation is in direct proportion
to the flunctuation of prices. It
means merely that commerce is re-
adjusting itself to an inflated cur
rency. The best thing that can hap
pen is for exchange to get down to
rock bottom as soon as possible, 1t is
held by many observers. Men now