The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1921-01-05

What is more important in n broad
sense than anything else in the So
500. 900. 900 loan to central Europe
urged by the farmers through their
various organizations is their willing
ness to challenge the assertions that
Europe is a bad business risk.
In Europe alone to-day there arc
$500, 900 idle cotton spindles. and Of
this number 100000 are in Germany
and CZecho- -SlOvakia. The total &C.
tive spindles i'm the last named coun-
tries are only about 5000, 900. In
Austria there are 100000 spindles,
of which probably fewer than 1000
are working. All Europe exclusive Of
Russia has 100000 active spindles.
Tho idle spindles, therefore. amount
10 more than II per cent. of present
| active spindles, and nearly all the
inactiveity is in central Europe.
Our exports of cotton to Europe
amount roughly to $3.50 O0O.O 900 a wear
at the present rate. If the II per
cent. additional capacity OF European
spindles We're revived by q credit TO
central Europe we should be aole TO
dispose of an additional 57,00O.G coo
Of cotton.
Before the war Germany imported
about 300. 900, 900 pounds of American
copper year She is now unable t.
| buy more than 100,000,000 pounds.
Italy took an average around 10000
600 pounds. but is buying scarcely any
now. Total exports to Europe in 1913
were 926. 6.000.0 600 pounds but this year
| they will not be more than 600, ,000.-
600 pounds, if they reach that figure.
There is n surplus of copper in this
country amounting to about 600. .000,-
600 pounds. Europe could very likely
use the whole surplus if it could be
obtained on reasonable terms and
conditions.
In textiles in the metal industries,
in materials and manufactures gen.
orally, as well as in agriculture, there
are surpluses larger in some cases
than in others, and in nearly all cases
these surpluses. could be used to great
advantage on the other side.
Observers coming back from Europe
do not believe the people over there
have any intention of casting off the
restraints OF civilization or their
old habits Of eating, living in dwell
ings, riding on railways. Rather
are these returned travellers inclined
to praise Europe for its strenuous eff
forts to reconstruct the damaged Sec
tions and to get back on a normal
basis.
What the foregoing figures on cot
ton spindles and copper show is that
on this country rests the response
D bility for idleness of great part of
, Europe's vast Industrial machine be-
{ cause we have failed to furnish raw
g materials even in pre-war quantities
\ when they should have been sent in
: still larger bulk. The excuse has been
' that we did not have enough capital
= to lend to Europe. AS capital is goods
- and services as we'll as gold. and we
= have plenty of these, we have the
t capital
1t is we'll also to understand Just
r what is necessary to make Europe a
good risk. Bankers have pointe6 out
2 time and again that it would be fruit
e less to keep sending food 90 Europe,
: for credit or for cash. in the hope
{ that reconstruction could be carried
5 on with food alone. This is an inn
portant point for the farmers to re-
member. The job of reconstruction
is slow and must be balanced with
D nicely. Human beings must be fed,
but general industry must have a lib
eral ration of raw material TO give
the workers employment to to pay for
the food.
What we need to do is TO avoid en-
tangling theories and go ahead on the
, principle that for Europe's good and
, in our own enlightened self-intcrcst
the best thing we can do is TO give
credit to the Continent. Out of this
credit we can restore Europe's indus
trial machinery, and with industry
going full speed the nations now
classed as a bad business risk will
> have buying power enough to relieve
us of our millions of bushels of sur
plus wheat, corn and other products.
And this will all be done on a business
basis, without making Europe the
t object of charity.-N. Y. Herald