The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1922-05-24
WHAT Is THE REMEDY?

The Chamber OF Commerce OF tho United
States has just had prepared some figures show
Ing the relative Importance Of the allied In
dobtcdncss to world finance and industry. Ac-
tordins TO these figures the debt owed this
country by Europe exceeds tho total gold sup
ply OF the world; while for tho debtor nations
60 discharge their interest obligations alone
would require 30 por cent OF their entire gold
holdings at a time when ono OF the dscon-
certng features OF tho present world condition
Is the low point TO which Europe gold reserves
have fallen.
The figures further show that the "unfavor-
able trend OF international trade" indicates ac-
cumuiating obligations tho part OF Europe.
That In to say Europe continues to buy much
more than It sells. and since It must pay It's OBJ
legations in either gold shipments or goods.
finds itself getting farther and farther away
from normally.
But there Is hope II not an admonltory fin
ger, in one statement. presented: Reports will
probably continue to bo unfavorable while
Europe IL underproducing with unbalanced
budgets" Ergo. Europe should 20 to work
producing and Immediately balance her bud
gets THAT II tho remedy and the only remedy.
1t is recalled that Immediately the guns be-
came sonced on the western front In 1918 the
French high officials began asking that Amer
lean troops be set to work restoring the terrain
OF France. that American money be expended
without limit to restore that which had been
destroyed. There was just M little OF God
helps him who helps himself idea prevalent In
French circles as IL possible to imagine.
1t Is not IA pleasant thing to say. but in tho
frame of mind behind that request that Amer
icn, after aiding In defeating the enemy. should
also restore all that had been destroyed. Europe
set itself on the pathway which has at last led
into further distress Had the relieved nations
Immediately set to work restoring themselves,
spurnlng charity and relying on their own ef-
forts and resources; had tho wealthy nationals
OF each race been required TO come to the aid
OF. their unfortunate fellows or 20 down with
them In lump. Europe would today be In nor
mai production, instead of continuing to pur-
chase abroad; budgets would long ago have
been properly balanced In accord with national
income and necessities, and international eco
Monies would have been on a sound, II greatly
diminished basis.
And these consummatlons so devoutly wished
for will never be realized until Europe aban-
dons Its disgusting attitude OF mendcancy and
gets down to the foundation-practce OF all
prosperity and independence, work. SO long
getting something given them, so long as the
remote hope endures that they can escape
some of the consequences OF their folly through
tho continued benefactIons of this country. Just
so long will economic conditions of the world
remain seriously disturbed.
The very greateat service this nation can pos
sibiy render Europe ia for II TO advise the
statesmen of the old country that their concep
~ Ga ppi sacu rpl ,
buttrcssed In fact IL the conception OF the
average American kid with reference 10 tn,
same subject II Europe Ia told most emphat
ically that It must get to work In dead earnes
II At hopes TO survive, there may be brie
period OF scolding and complaint, but 1t will b'
followed by the first step towards a re
establishment OF world normalcy that hai
been taken In four long years