The Big Sandy news. [volume] (Louisa, Ky.) 1885-1929, 1921-12-09
Friday, December 9, 1921.

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The United States produces a sur
plus Of agricultural products, manu-
factured goods, and many kinds of raw
materials We must md q foreign
narket or sell below cost OF produc-
ton in glutted home market. When
the glutted market has reached the
utmost limit the surplus rots or Is
junked. Producers 60 out of business.
Dealers fail. Business 10 stagnant. Mo-
body can get profit. We have out
grown George Washington's time. We
can not keep aloof from the rest Of
the world.
Europe must have lot of credit and
some money to buy our surplus She
has neither ct present because the
United States withdrew her great
steadying hand at the most critical
neriod in. the worlds history. Normally
the English money unit, the pound
sterling, is worth $4.S6 of United States
money. The German mark % cents.
When a few United States Senators
forced the United States TO withdraw
from world affairs the pound sterling
dropped to S3.1S and 1t has touched
s, only once since. The German mark
circulates at about half of one cent in
!. money as against 20 cents nor
inally. The exchange rate between us
and all other countries of Europe drop
sd TO a point where they can not buy
our products. If they should do so 1t
would be the same as adding the diff
ference to our prices. making such
transactions ppohibitive for those peo-
ple already reeling under burdens that
look almost insurmountable Their
governments have no credit because
thoy may be overthrown at any time.
Without an association Of nations in
Guiding the all powerful United States
Of America there can be no assurance
of the stability Of very many OF Eu-
ropes nations. II the United States
had remained loyal to her allies after
the war. business would have continu-
ed good because credits and normal
rates of exchange would have been
maintained.
Our manufacturers had desirable or
ders piled high, extending over per-
iod of five years, when the United
states took the fatal step through a
handful OF shortsighted and small po-
litical Senators These were cancel !,
led by cable and by mail and by per- !
sonal representatives Immediately. ~
The words of President Wilson. ut
tered just after the rejection of the
League Of Nations, are now realized as
having been true prophecy. He said:
.They have dissraoed US in the
eyes Of tire world. The people OF
America have repudiated fruit
full leadership for barren indepen-
denoe-
There will, Of course, be de-
preston in business, for the isola-
tion which America eovets will
r-ean ioss Of prestige which al
ways in the end means q loss OF
business.
1.-THE people will soon witness the
tragedy Of disappointment, and
then they will turn upon those who
made that disappointment possible.
u am not thinking Of the par
tisan side Of this thing. Il 10 the
country and its future that am
thinking about. We had q chance
to gain the leadership Of the world.
We have lost II, and soon we will T.
be witnessing the tragedy Of IL ALL
Let us hope the present International
gathering at Washington will result
in a strong association OF nations in
which the United States shall be the
central figure and guiding power. But !
I will be difficult now to convince the
other nations Of our sincerity. When
| proposition along this line was made
/ few days ago one OF the foreign rep
.esentatives Immediately said, What
would the U. S, Senate do the next
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