The Powder River County examiner and the Broadus independent. [volume] (Broadus, Mont.) 1919-1935, 1922-06-16

S III 80 - ~ -
oPTTrIsTIC VIEW or THE WORLDS
GREATEST EN0lNEER AND ECO
NODQlC EXPERT WHO POINTS. TO
NEW PROSPERITY.
tBy JOHN HAYS HAMMOND,
editors Note. Jchn Hays Ham.
mond, often mentioned a. the world'a
greatest engineer, and one time men.
toned az the probable secretary Of
commerce in President Harding's cab
met. IL in addition tc, being a great
engineer, q highly developed economic
expert and authority and international
problems. His contentious as outlined
IN the following article give food Tor
thought and the more they are stu
died the more possibilities are open
for the average man tc absorb)
The world just now seems to be deep
in the slough of despond and nations
in working out their own economic
salvation seem to be trying to pull
themselves out Of the mire by their
bootstraps. II they would adept
policy Of mutual helpfulness and rect-
nrocity and exert themselves tc extri-
cate their neighbors. nations could
aoon again reach terra firma and
thenceforth the read to that seeming
ly elusive normally to which we as
pire would be safe to travel with only
the ordinary obstacles incident to the
onward march of civilization. This
would be the spirit of enlightened self
interest, which until the coming OF
the millennium. is the only dependa-
BILE motive for the cooperation OF ma
lions, or Of individuals. and the cnty
enduring basis for international or Tor
industrial peace.
The spirit of enlightened self-tnter-
est presupposes the recognition OF the
principle CT economic interdependence.
One must emphasize the qualification
of intelligent self-interest. for untn-
telligent self-interest IL largely re-
spousible for ack of remedial Cooper
alton. There could be more useful
campaign of campaign CT education
than to impress upon every class OF
every community its dependence Tor
we'll being upon the general welfare
This is not a preachment Of an Ideal.
nor merely the enunciation OF an eth
ical principle. but Is the aim to- de-
velop the power conception OF that
great underlying principle which In
evitably must be the guide In human
relations. This conception does not
in any way imply the subordination CT
high ethical standards to expediency.
In order to attain cooperative en-
deavor essential to national industrial
efficiency. we must recognize the in-
terdependence of the Industries CT the
country and the mutually Of interests.
R~~ nm
pendence Of agriculture on the pros
perity of the manufacturing industry.
for in the manufacturing centers 1t
finds it's best market. and tina con-
versely all industries are benefited by
the prosperity of the farmers. since
mere than fifty per cent Of the coun-
try's purchasing power is derived from
the products of the farms.
We must realize that the tariff il
an economic and not a political r'ob-
lem and that 1t should be treated ac-
cordingly in tariff legislation. and that
the keynote of our economic and fiscal
legislation must ever be to preserve
unimpaired the integrity Of our do
nestle Industries and the purchasing
power Of our Incompatible home mar
ket-a market which absorbs more
than niety per cent CT the products OF
American labor. In value twice that
of the total trade Of the entire world.
We must realize that in the build
ing up of an American merchont ma
rine. which is indispensable to thu adj
equate development of our foreign
trade. there mus, be nc provincia:tsm:
that for example. our great middle
west, which contributes almost cne-
half of the total exports Of the United
States. IL as much a beneficiary Of an
American merchant marine as are our
seaboard states.
It IL impcrtan: that definitive pol
icy be establisher, and that he adj
mission Of immigrants be chiefly de-
termined by the labor required to tup-
ply the needs Of our domestic market,
plus the relatively small percentage
Of products destined for export. I'll Is
better in the long run tc suffer from
a temporary lack of labor than to face
the danger of q congested labor mar
ket and consequent unemployment
with resulting social distress.
There has been great improvement
in the labor situation. not only in this
country but abroad. within recent
months. Productivity has increased
very considerably. although by nc
means has 1t reached the degree Of
efficiency essential to industrial pros
perity upon which the welfare Of la
bcr itself 10 dependent. The tempe,
Of the American people today il Il
nay labor 20 large q part OF the prof
its OF industry as can be done consist
entity with the healthy development q
the industries themselves. In THU
Americans display both sense OF Jus
tice and appreciation OF the need T.
maintain high standard OF livinl
among wage earners In order 20 in
sure that high standard OF dtisenshil
which q essential to the security AM
prosperity Of 4 democratic form o
government. But labor must realis'
that even 90 rich . nation - our
would Inevitably soon become bank