The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1921-09-19
TRADE
Our Responsibility.
Merchant Marine.
National Defense.
Government Finance.
BY GEORGE w. HINMAN.

BY GEORGE w. HINMAN.
| CHICAGO. Sept. 1.-THE balance
OF power has shifted across the ocean
TO the United States and It will be
interesting to see what America will
do with the responsibility" These are
the words of William II. Dawes, vice
president Of the Central Trust Com
pany. They were addressed by him
to a Chicago business audience and
the power to which he alluded was
business power.
VIII business, American business.
accept the responsibility with conf.
dence and act up to II with courage?
Will the American Government do the
same? And will each support the
other, actively and aggressively, with
an eye to the golden future? In Mr..
Dawes question all these questions
are included.
One trouble today Ia that nationally
we view our own difficulties too at
tentively and regard the difficulties of
others too lightly. Yet the race in
business Is not to the nation that has
TO handicaps, but to the one that has
fewest and carries them best. That
today In America. We are far ahead;
we have only to 60 on, and we finish
ahead Of the world.
Deeds, Not Words.
Is 1t in deeds? Not yet. There 10 a
general disposition to cast off all bur
dens. even those that 1t would pay US
to carry.
AS regards the merchant marine,
for instance: 1t must be put at once
On a paying basis: It must show
profit or be got rid Of; 1t must be
handled at once in a business-like man.
ner. be made to show a clean balance
sheet or be dismissed as q losing propo.
sition. Now. every merchant marine
In the world Is in trouble. English
harbors are cluttered with idle vessels.
Nearly half the English ships are tied
up. Yet the English set their teeth,
take their losses and wait for the bet
ter times that are to come. Their
courage will be rewarded. They accept
their responsibility and act up to 1t.
Cannot we do the same?
The carrying trade LIS one Of the
worlds prizes. There are billions in
1t. A big part of It Is within Amer
ica's reach. II half the time now de-
voted by Congress to poulticing local
sore spots with million dollar appro.
priations were devoted to courageous
ly rectifying working conditions and
operations in the merchant marine,
accepting responsibility for this 49,.
600, 900, 900 investment and discharg-
ing 1t, the prize could be won and
retained.
Defense . Necessity
AS regards disarming the country
or reducing the United States to the
military level of a third rate power:
A large number of business men seem
to feel that every million taken from
national defense Is q million saved.
That wealth, commerce, industry, en-
ployment and comfort have to be pro-
tected in this world Is a truth they fear
to face. The courage to bear now the
burden of the extra s200. 100000 or
$500 900 900 that is the price of bust.
ness safety and prosperity a few years
hence, they either do not muster suf-
or do not muster at all. Yet
from Carthage to Holland. and Hol.
land to England. all history proelaims
that national wealth without national
power is the way to the pit. We
have temporarily both. Do we re.
fuse the responsibility When one
reads the business periodicals Of the
day, In favor Of national defenseless-
ness. one would think 50.
A Business Battle.
As regards finance: Government
finance. international finance, and |
domestic finance. Are we ready to
take the responsibility Of an indie |
pendent course. to harden our heads
a little in our relations to our former |
leaders and financial governors in |
Europe. ignore their gibes and self |
'counsels. follow in South |
American and General American and |
.siatic affairs the policies that are |
best for America, make justice our |
sole guide in business dealings with |
Europe and cease to be swayed by |
either flattery. sentimentality. or sor-
lid criticism from the policy Of deal.
ng with other nations as they always |
nave dealt and still deal with us? It |
will mean a battle to do so-a bust.
less battle.
But II we are to be real leaders we
ave got to fight 1t perseveringly and
vim or we lead no more.
We often read complaints that the
resent Administration has no com.
nercial policy-that is. no business
foreign affairs. We think
/ has. In Mexico, IN the Pacific. in
nina, Central America, in central
europe, we think Mr.. Hughes has
iven evidence of O business policy
hat, bravely supported by the busi-
ess men Of the United States, can be
made to meet the responsibilities Of
9th wealth and power for this nation.
But 1t has got to be supported. The
usiness men Of the country cannot
xpect to sit still and have a world
ortune poured into their laps. They
ave got to stand by. Above all, they
ave got to cease treating and dis
ussing all policies Of the nation form
he viewpoint of immediate profits or
money on the table: realize that in
World leadership nation has to spec.
late to a certain extent on the prob
bilities OF the future. accept with grim
some present burdens for the
romise Of deferred rewards, and gen.
rally meet the national responsible
les in the way that successful ma.
Ions have met them. rather than shirk
hem in the way declining nations
ave shirked them. With power and
they must take RESPONSE
ility |