The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1922-12-19
MUST MEET EUROPE
AS FRIEND AND NOT
CONQUERING POWER

y
'"The United States holds the key to
the critical situation in Europe" de-
clared Prof Homer Morris, of the Eco
Monies department of Earlham college,
in discussion of the wrecked financ-
ial machinery of European countries
at the regular noon luncheon meeting
of the Richmond Rotary club held at
the Arlington hotel Tuesday. 1--WE
must approach this situation as prob
lem in world need and not as con- !
quering power. 1t must be in the atti- |
tude of the helping nation willing to do
all possible to prevent a collapse" said |
Prof. Morris.
81 have ben to Europe a number of
times and 1 will say that the chances
of war now as compared to the same
probability in 1913. just prior to the
great World war. are just about Is
times as great. The people are in
famed through want and privation
and the whole situation is as powder
magazine where only spark would
bring catastrophe. Europe is attempt
ing to rebuild its financial structure
! through revolt and hate and it can
never be done in this manner. Europe
is not only bankrupt in money but is
bankrupt in good will as we'll"
The speaker said foreign exchange
has met with the greatest financial
catastrophe in the history of the
world but that this trend of world
events is not so greatly appreciated
: by American business men because of
; American business solidarity He
compared the slight business depres-
sions experienced by American BUSH
ness men with the terrible condition
: in Europe.
Money is the common denominator
of values and is the basis of business,
he said. He then reviewed the sharp
decline of the currency of various
European countries and showed how
this decline affected business and so
: cial conditions there. He stated that
the amount of money now in circula-
ton in Russia, if taken at its par
value, would be worth 100000 times
the value of all of the gold in the
world
The speaker also brought out the
]
values, prices rise. He stated that the
prices had a tendency to rise faster
than the incomes of the professional
men and the working classes. For
this reason the more intelligent clas-
ses of people in these countries are
slowly starving to death for they have
not the means to provide sustenance
for themselves and their families are
too proud to subject themselves to
public charity.
Stimulates Activity
The result of the defiation of the
. foreign currency is to stimulate bust
ness activity, said the speaker, be
cause the value of money is constantly
becoming lower and people spend their
money as rapidly as it is received
This stimulation in buying produces
business activity and production, and
this is why the visitor in Germany
who is there but a brief time gets the
7 idea that Germany Is thriving. This
4 accounts for the lack of employment
Z in Germany, said Professor Morris.
That there Is a constant shortage oi
y money under the present conditions
was another result of defation as
: pointed out by the speaker. 1t take:
r activity, he explained.
t Affects U. S. Commerce
3, These European countries are IN
n able to buy bread, said the speaker
@ because of the low buying power OF
, their money, and he stated that the
: American surplus in foodstuffs is
! about Is per cent of the whole and
-. that for the reason stated our experts
: are gradually losing ground. In Eur
ope there are 300,000,000 customers
= for our surplus food with no means
: to bring customer and supply togeth
er, said the speaker.
There is another side to the sit
= uation and that is the political side
l. said Professors Morris. With the fail
; ure Of democracy to establish finan
g cial stability there is a tendency 10
!, ward favoring the return of monarch
l. ial power which is playing directly
into the hands of the monarchists. he
said.
Unless there is intervention of z
really helpful nature the best people
I of Europe will die off and the i'm
poyerished civilization will again be
thrown into a great turmoil brought
on by the lack of the very vital neces
. stiles of life, was the opinion of the
!, speaker
FouIke Given Badge
- William Dudley Foulke, Rotarian
:. who soon will make a tour of thu
:. world, was presented a badge. th'
:, Rotary wheel, by President Keller il
!! behalf of the membership. Mr.. Relic
: babe Mr.. Foulke to represent the ideal.
= of Rotary in all parts of the globe. Mr.
~ Foulke replied to the presentation il
II stirring manner stating that he keen
: ly feels the honor of representing Rot
IS airy and he eulogized the ideals of tn,
ID organization as being above all inter
n racial and inter-religious projudices
D. 1t is the one organization, he said, tina
S does not reach higher than the human
n hand is capable of reaching and doe
IL not desecrate its cross with malice o
n hatred.
" -
s. GETTING 1T OUT OF HIS SYSTEM