Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1921-05-11
COMMON SENSE
PARAMOUNT IN
NATIONS CRISIS
Sen. Beveridge Says States
manship, Not Politics, Must
Meet Great Problems.
WORLD TRADE IS APEX
snsciaI 70 The Times.

KOKOM0, Ind, May 1.-No legerde-
main OF politics and no sleight-Of- hand
statesmanship can suspend the economic
laws which are responsible for the pres
ent business depression, Albert J. Bever-
idge declared in a speech in the audi
forum here last night.
what then shall we do?" he asked.
First OF all, we must reject out OF hand
and be done with the matter, all IN
sound schemes for FbOlstering up bust
ness, however attractive those schemes
are made to appear and however much
our sore necessities urge US TO accept
such palliattveS-at least We must ex-
annie with care and caution, as becomes
prudent people, all propositions for IN
Simultaneous betterment
PROBLEM OF
FOREIGN TRADE
For example. our most serious prob
lem is that OF foreign trade. How shall
we get rid Of our surplusF Disposition
OF the surplus Is q first condition or pros
perity. II we cannot sell it abroad, fac
tories must reduce production or en-
tirely close, since they cannot continue to
produce what they cannot sell. rms
4 means unemployment of labor which, In
turn, grinds- agriculture. All industry
is affected.
idea Of relief In this state Of AFFAIRS
the Enthusiastically sound-idea Is
advanced Of extending credits TO Eu-
rope. Yet the debt TO us thus created
must be paid In goods, not cash, SINCE
Europe has no cash for purchases. But
payment in goods means the further in
crease OF our surplus, to dispose OF which
abroad is our prime necessity and our
most perplexing problem. 49,. ,uor,
can business men should not blindly
plunge into this arrangement, but should
patiently and thoroughly analyze Is before
embarking upon such an economic al
venture OF course others nations are
eager to have US become partners IN cat
astrOphe-sO are certain great nnanclal
interests which are loaded down with
foreign securities Perhaps they are
right as to us-they surely are as 10
themselves-but perhaps they are wron
az to US. So let US at least look INTO
the proposed game before we commit
ourselves
For many years we have been woe
fully short-sighted in advancing Amer
lean business abroad; and recently We
have acted almost insanely. If only we
had shown a little part Of the provision
In foreign affairs of Bristish statesmen
the ablest body Of men who in the eX-
elusive interests OF their own nation.
ever watched over world movements-We
would now be in better case. But. In
stead, we have shown no foresight what
ever; and now we face the reckoning.
HAS AMERICA
ENDURANCE TO PREVAIL"
Thus comes the ultimate trial Of
durance to preEaiI7 Have we the ability
to suffer and perserTel Have we the
~cQuSnon sense to refuse to dope our
Selves with economic narcotics which may
keep us going for a brief season but
which will make our plight more des-
perate in the outcome? And can Amer
lean institutions endure the strain?
On first thought, the prospects are
forbidding. When we consider the
shocking fact-the almost unbelievable
and incredible fact-that many good
Americans, IN spite OF impending collapse,
actually care more about this or that
petty political Organization than they
care about the well-being Of the Amerf-
can people-actually give more thought
and energy to partisan wrangles than to
craftsmanship, we must confess that the
outlook is, to say the least, not en-
couraging.
ties OF the hour, and, beyond the heavy
clouds. the sight OF rational faith can
i, behold the sunshine-far of, il is true,
yet to be achieved II we are steadfast,
and worthy. Within two years the
American Congress will have to begin the
enactment of the most stupendOuS econO-
mis- legislation in the history of the
world. Even if there had been no war
we would have been compelled to adopt
this program Of constructive statesman
ship in the end-the war has forced il
upon US now. I have publicly so often
and for so many years specifically de-
scribed the basic laws necessary to our
prosperity that 1 shall not this evening
20 over them again.
That we shall weather the long, soul
trying, breaking. storm, I have no
doubt whatever. Yet a little longer our
lethargy will endure the puerilities Of
what is called politics. yet a little longer
we will tolerate that product of a day
that is past, the politician in the seats
OF the mighty. But at last the av fuI
grind of taxation, the terrible cOndi-
ton Of business, the appalling loss which
results from our utmost efforts, will
have their inevitable effect