South Bend news-times. (South Bend, Ind.) 1913-1938, 1921-11-04

set forth frankly any certainty which
may bear upon the immediate
future however disappointing Il
may be 10 his hearers. In pursuance
OF this policy. rightful or wrongful
as 4 may be. feel impelled 20 say
frankly that the hope voiced By
Lord Derby must be regarded az
futile.
"Our Policy Fixed"
Our LIST president fixed the foreign
policy OF the United States clearly
and uneduivocally when he adjured
he countrymen never 20 enter a
permanent Alliance with any other
power. This policy has been reaf-
Armed by practically all his success
sors Il was reiterated with great
posi;iventss IN our latest national
campaign BY our president and
was confirmed by a majority II the
people 20 great as 70 be beyond the
pale OF comparison.
IN view OF these circumstances.
am I doing more than stating the
wholly obvious and inescapable fact
when I prom ounce the entrance OF
the United States into any perma-
merit alliance. however desirable
that action may seem 70 be, an ut
ter impossibility? May II not be.
then. the part OF wisdom 70 avoid
discussion or even suggestions OF
proposal which however. praisewOr-
thy il may be. could hardly serve
any purpose other than 20 feed enc
mics and distress friends Of both
Great Britain and France who live
IN America ?"
DepIores Wars Aftermath.
Am bassador Harvey. in dealing
with the subject OF world economics,
said the aftermath Of the war was
hardly less dlscOncernlng and de-
vsstating than was the war itself
at the expiration OF the ensuing
week" he continued. I've shall have
reached the beginning Of the fourth
year following the armistice. Even
then we shall only be approaching
what we hope may prove TO be the
hrst definite and enduring settle
ments looking toward the lifting OF
burdens and the establishment OF
international agreements or under
standings foreshadowing prosperity.
which can be attained only through
the assurance Of tranquil relations
among the powers OF the world"
There was. he added. political
peace in a broad sense and II was
industrial peace that now was be-
ing sought and must be obtained.
Must Face Issue.
We must face the issue squarely
and nanfully." he said. "as IL bene-
fits our race. The first fundamen-
tai principle we must recognize is
that economic laws are superior to
those OF governments He declared
supply and demand constituted the
basic law or all industry. am that a
period of what normally would be
termed Over-prOduction should now
follow the long period Of under-pro-
duction. Instead. however. he de-
clared both England and America
had been persistent in under pro-
ductiOn
While the employer reluctant 10
dispose or present stocks at lower
prices. is willing 20 sell for prices
approximating the anti-bellum stan
dard all goods hereafter produced"
Mr.. Harvey continued. "emrEoyes
are asking for more money and
shorter hours now and still more
money and still shorter hours here
after
Mock Economic Laws.
on the part OF both employers
and employees, IL Is a fatuous poll
cy thus TO mock the fundamental
laws OF economies II is a perilOus
policy which. II applied to interna-
iiOnal affairs. immensely increases
the danger Of war. Applied to do
mestic economics Il not only fails
10 exercise an influence for avert
ing industrial strife. but very posi-
lively aggravates the situation so as
TO increase the danger of conflict.
We, of course. do not anticipate
violence or revolution. That is out
OF the question. but we would be
blind to signs Of the time if We did
not perceive the danger of al indus
trial war as much exceeding any
hitherto known as the economic dis
turbances caused by and bequeath-
cd by the great war exceed those Of
any former occasion"
Mr.. Harvey said the way to peace
and prosperity Was open n only en-
r.oyers and employees would pur-
sue Il. even Of the cost OF some
privatiOn. though indefinitely less
than 'hGt which the general public
has suffered and is suffering"
The speaker expressed the hope
that guarantee not only of peace
but Of prosperity would come from
the ". shington conference. which
nc said anticipated would result in
enhancved commercial cooperation
as the logical sequence OF the poll
teal concurrence between Great
Rrfsaf- and tho T~rf+o5 St.