The New York herald., 1922-03-05

I have received from your LONDON
Bureau reprint OF Mr.. Munseys very
interesting review entitled "1s22-Whas
Will 1t Mean to Us?" which appeared in
THE NEW YORK HERALD OF January 2.
In no country can conditions be re-
garded as satisfactory and they vary
all the way from bad to worse-mostfy
the latter. Those who have the capac-
ity to think, the opportunity OF accumu-
lating information and the power TO lead
as well as advise should be addressing
themselves to the task OF assisting In
the restoration of normal conditions not
only In individual countries but through
out the world at large. In modern nIe
for perfectly obvious reasons economic
conditions have become so interviewer
and SO interdependent that 1t is difncut'
IL not impossible. for any nation to pur-
sue completely policy of isolation, ana
however repugnant the thought may Do
to the people OF the United states they
cannot view the general business posi-
ton with equanimity and avoid extend
ing that assistance to less fortunate
countries which Is essential for the re-
establishment OF business on SOUND
basis.
Apart from those who may have been
responsible for the great war. the fact
remains that it must be regarded as
universal and colossal calamity whlch
calls for cooperative treatment. From
another point OF view the increase in
manufacturing production in the United
States, it's advancing Importance In the
banking and financial world, coupled
with the necessity of an outlet for the
expansive energy of its population, Will
ultimately force America to abandon
nolicy of isolation with respect to Eu-
rope and inevitably bring about much
greater invasion OF International rela-
tions in the future than has formerly
been the case.
AS you have pointed out. there are
two fundamental facts which hamper
the reestaolishment of normal condi-
tons. namely. excessive and crushing
taxation and the high level OF wages
the latter is or should be dependent upon
the cost of living.
With respect to taxation: Govern
rents must introduce, to some degree
at least, that economy which any soun1
business organization would introduce
when confronted by stern necessity. 1t
is characteristic Of governments that
their affairs should be conducted with
extravaganza and ir many ways inefh-
cheney. 1t is recognized that govern
rnent cannot be run exactly as private
business, but after making due allow
ances there is certainly much room for
the introduction Of economical methods,
and one of the most fruitful sources OF
retrenchment lies in the direction OF re-
duced expenses for military purposes.
In this respect the Washington Con-
ference made material progress. but
there Is much more which should and
could be done at any rate, governments
should set the lead by ruthiessly reduc-
ing their expenses and cutting the coat
to fit the cloth" In England there IS
q pronounced and sincere movement In
this direction. Thus far it has not ad-
yanced much beyond the stage Of agita-
ton, but the country as a whole is look
ing forward to substantial results from
the labors of the Geddes committee,
which was appointed for the purpose OF
reducing Government expenses.
There is another point: excessive tax
alton, coupled with undue extravaganza
il. the conduct of a government, does
rot make for thrift on the part OF its
citizens and encourages reckless expen-
diture. The people of no one country
can be expected to exercise thrift IL
nf vx,ha
is to be appropriated by the govern
ment. Rather. the average man will
say that if the government Is going TO
take so per cent. or so per cent. Of all
he makes he may as well spend as
much OF it as he can before the gov
ernment gets it. This does not tend
to create a healthy condition.
In regard to wages every citizen OF
a country Is entitled to that remunera-
ton for his toll as will enable him to
liye in comfort, decency and under
proper sanitary conditions. and to edu-
cate and bring UP his children as SELF
respecting members OF society. How
much more he receives depends upon
vlat the business will stand and other
circumstances. Any other policy pro-
duces an uncoming generation OF an
archists and Bo,shevists, dwarfed In
mind and body. and prepared to engage
in any destructive movement.
There is such thing as "killing the
goose that lays the golden egg and a
short sighted policy on the part oi
labor may force wages to that attitude
which will kill production. In many
countries this condition has been