The Idaho Republican. [volume] (Blackfoot, Idaho) 1904-1932, 1921-03-14

purchaser and the transaction closed
The corporation in turn issues its
debentures against the bonds, sells
these debentures to the investing
public and restores the cash to its
treasury for financing other trans
actions in American foreign COM
merce. These two simple illustra-
lions Will serve to suggest innumer-
able ways in which the resources of
Edge law corporations with large
capital can be used to stimulate
American production and commerce
in their relations to world trade.
Plan Highly Endorsed
' The plan offered and unanimously
adopted at the Chicago conference
has the backing and endorsement of
the American Bankers association,
the Chamber of Commerce of the
united States and the National
Foreign Trade Council. 1t is the only
feasible plan suggested since the
American Bankers association set it's
investigations in motion more than
two years ago, thru which consid-
cradle share Of the investment capital
in America may be modified and
made available for financing our ex-
port trade. Until some such plan is
IN operation the products of our
farms and factories, our mines and
forests will continue to pile up in
storehouses and ports of trade, prices
Will recede, trade will languish, pro-
duction, of necessity will be curtailed
and employment will become de-
moralized.
| Up to American Investor
| The banks of the county can no
| longer carry the whole burden of
financing foreign trade-they are al
ready overstrained in the matter of
foreign credits. The manufacturers
cannot do it; they must have cash
for raw materials and labor. Cap
italists cannot do it; their surplus
earnings in large measure have
been Communicated by the federal
government to meet governmental
expenses, and the government itself
is utterly unsuited to such a trans
action. The task must be performed
and the credit attended by the only
one who can and should extend it
the American investor, whether he
be producer, laborer, mechanic, mer-
chant or banker, and preferably out
OF his savings. Such investor should
be attracted to the securities of
large well managed corporation such
as 1t is proposed to organize. It's
capital stock of one hundred million
dollars will attract to it's directorate
and it's management the very best
brains, the highest financial genius
OF America, thus assuring to the in
weston in its securities that his money
will be returned to him with interest
Selling the New Plan
Will the American investor support
with his savings such an organiza-
ton created for such a purpose?
Frankly doubt it; not, at least, until
thru organization and education and
systematic cooperative effort he is
made to see the imperative need for
such support. In an address de-
Hvered last May in San Francisco,
Dr.. Henry .Suzzallo, president of
washington university, speaking on
Americas Organizations for Foreign
Trade" said: Zone of the most fun
damental principles in our life is that
the American people, as a matter of |
fact, are SO far as economic truth is |
concerned and economic law and
principal, about the most illiterate
civilized nation on earth. What we
nave got to do Is to educate every |
common citizen in the fundamental
laws OF economic life. That means
we have got to engage in a gigantic
campaign for the education of the
american people along economic and
foreign trade lines. You will not
re-establish American foreign trade
and American marine unless YOU go
right back to the public behind the
politicians and educate them not
merely on questions of sound eco
nomics, but bring back into the
heart that pioneering thrill
OF adventure in industrial, agricul-
tural and commercial conquest that
we had before the Civil war" Five
years of Europe's abandonment of
peaceful pursuits and the commissions
OF war have flung America into the
position OF leadership in world trade
"a position she might not have
gained in a century of peace without
The conscious organized effort of
whole nation. Indeed, it took more
Than a century of concerted effort to
bring England to her dominant place
IN the world commerce and make of
ler the worlds creditor in the sum
of twenty billions of dollars. War
has laid on the shoulders of America
The burden of foreign debt-the
worlds creditor nation by fifteen
billions. Unframed, unprepared.
gnorant Of world markets and the
ethics of merchandising in foreign
ands she stands in the citadel of the
worlds commerce, the commander
md arbitrator of international trade.
Var placed her there and only war
Tod forbid-can command a speedy
etreat.
Real Warfare Is On
America in peace time drifted with
he tides of men and and of trade.
dissatisfaction, sufficient until her.
ELF, unmindful of the trend of the
worlds commerce, isolated from the
Of Europe's striving for
World trade, and drunk with her own