The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1921-05-30
America on Threshold
of Great Investment
Era; Problems Big
BY DAVID LAWRENCE.
(Copyr!shl by the Iate!llsen>~r)

WaSnrnGtn0. H. {. May @<.--Pr">;dcnt
Harding has undertaken Il job uUrarra!-
...l!cd IN American history e MT Uurr'-
,rdcpt.d IN world economies. IL" mas
asked lnr bankers ot America WI" he
recognizes vii practically ti"aa"" the
world in In. u.\t ten years 20 '"-"n'rat"
with tn" United States S"l.rn:n"rt. not
or governmental purpose. n"t tor the
handling OF g"v.rum"nt "h.isAut"n>. but
ror the >af"IuHr,iinS "t 'v"ry cLa>S "t
;."oplc-- ...N-~;nr< large and small FARM
RS. business m"u. producers and con
umcrS
F;ank.d ~ s.: ,Ar! Mc,.oa "f -"
treasury aud SECRETARY Huovrc OF the
hcrStr;mHr; - y.'mu,"rv'. who's" vision OF
what is anv;,d -; America. - :, c"ntr"!-
.lng int'u"nc. ia gov, rnHl'n.I nowadays.
Presiden Harding has cIli.N together
first the iaier0N;."uaI bankers "t N"
',Sc brIi h":"g" manN w""kS nave
elapsed H. Wiz hav> cratc-r"d with the
bankers aa,! business ucn "t ever! Sec
;ion OF th" country.
Obviously NJ Hari.uS "nHi> (" hr.aS
Rbout = rrturn - npr!ta'Cy ami doesn't |
van; tho e"V-rn:ra; I" inHp-'' Any AZ
'itic:al mrasur"- ;h,; Will ;'r1"!" >Gc1 i
r"turn b.; hiS cabiH'' s"cC"tLrie> AA'".
pointed uut certain haUc"c>. e 7'h = ri'-
falls. f every lass S",~ theld !adi"iI-
uaily without rcr:,ri :" III" interests -;
nsher Classes ~ cur economic ht". Nj.
Harding ,a,,~ :, -" begtan.:S ~ AN
c-a OF understanding. WhH; he really
wants - conference and provision be-
fore America ;ak,> tnH hi- St"p--i'.nS
90 ito finanU,a; r,>vucrs> = re!I1b.i
ate the world.
Must Finance tho world
Now cha: Mr lIarding has "u;..ned
the essentials "s ii, ;"rHiGr policy AZ"
has deitmit".l rlu. '<iSui 1" watch ta'
United S'ai.S GOV. -rni"nr Viii r"-"i'.r-
,;e with ~" ;,.i:"s in S.-:nG 70 !, that
Germany Will Iay h,r war Indemnity.
Inc big facts of ~: c.'Nn"r:c situation
thrust themselves forward wt:h CA:n!>-
taxable emphaS.> Mr.. Harding adm -
frankly tina; .Nm'r.cI must France -
world He doesn't G:Sp4ia 80 Ta"' =:
Germany must byrro~ ic:s - i'.';-H
to pay the allies and ;ha; d.-"":'y Or
Indirectly much Of th;,: borrowing w.
nc done in the United STAT. Al in.g's-
Erous as Il may seem. th@ investors G.
America viii really be losniug G'rrI'an!
money wherewith 10 pay he- wa- IL
demnity. This always happens when
rho creditor nat!ea - Victorious. II
nay D. I, surprising itrt ( the 10 ay'na =.
hu, 10 Tho finaDc.c- :. = aM!"riA;.".
For instance tho German people - ISL
actually loaned tho French ;he very
money which Franc. re,dcd - nay Ger
many an indemnity for her defeat. In
this instance. America has the larSo>:
-upply OF gold Of any nation. America
= the most prosperous. Her people Will
,oan their money out at attractive rates
:: interest, The French have already
"ffcred successfully 4 800. 100000 bond
~sus At p"r cent and 1t has been COB
lied up ~ Il good propositions
The Banker view
Moro loans like that are. o. course.
coming. rrrSid"n. Harding and hts
rabinet began 10 wonder whether Europe
would slowly but surely take so much
money out rr IN" United states thrt
money needed I" financ. American rail-
r"adS. for ample. would be hard 10 get
-Ncspt a. high rates os interest Ia
';hc- words. ~ waCt"'i 70 know from
'hc international! bankers what would
'arp"a 70 inc domestic situation IN the
In:tcd States r a continuous FLOW OF
Nm"rsc,r r"rry abroad were starteI
The international bankers sXrla!nsd
neir view pojG: % tho President in con-
N;ncng n.rnsr. Thcv seemed % f""s
'nat Am, ri":,a 'Vp"rte would Increase
iGSi a. soon a soma sort "f political
stability came - Europe. They inSis-
ID thai there wouldn't be any need OF
..Npcrt f:nin"" corporations nr s,'.C.ai
ren sure o. relief IL somehow TIA. ~
VAS nn :tSSu-:,nc" Of an abiding social
RIDER ir ~" countries which America
',ad sold and WOULD >"l, 'ar-' quantities
"c goods In ":h"r words. II p'1"' were
insured t"r Europe. th"r.. would o. more
business for ~" tncr ricaa farmer and
nanuf;t' iurer and NOR" factories opened
md the return {" normalcy would b-
FASTENED
Rut there's III" :iIa. The iH:Crna:;"H-
=, bankers would lik" 20 soc America.
the League Of Nations hecauS. ih"y
,hink that would furnish ;~;r necessary
insurance President Harding secs fur
thcr All, al. however. He believes thtt
Americs would iucN Nit;,blr have % uS"
her military and naval forces 20 iESur"
acacc. H.. 'hinilS these ar. Avenues OF
rolicy a.onE wnIch thc American poop"
10 not wish :" tr,tr'l even ~ III" "N-
r"rsc Of = N."Acr return - normal thdn
might O.hcrHj~c p" the case
Problem Psrplex1nG
Having h."n cu;ninitt"'! :" r"":r.' -
OF alootnc~S from European po;,t:"al
(Conttnusd on Page Eighty