The Dawson news. (Dawson, Ga.) 1889-current, 1923-01-30
AMERICANS CHAMPION
SPENDERs OF WORLD
NATION WASTING RESoURC-
Es WITH STARTLING RAPID
ITY, SCIENTIST SAYS.
PREDICTS AN ECONOMIC CRISIS
Voracious and Unsuitable Consump-
ton of Raw Materials of the Coun-
try May Bring About a Collapse.
World Wide Shortage.

LONDON.-Am demand for
her own natural resources-oil, metals,
cotton and the like-is so great that a
worldwide shortage of these COM
modities is foreseen; while an econom-
ic crisis, even a collapse, is predicted
for the United States as a result OF
the unsuitable and voracious con-
sumption of the raw materials Of the
country, according to Sir E. Mackay
Edgar, we'll known British industrial
ist and fnancier, who has returned to
London from his annual visit to the
United States.
All countries will be affected. but
the United States most of all, and the
best policy for Great Britain, accord
ing to the observer, is to develop and
keep under British control as many
physical assets as possible all over the
world. If that is done America will
have to come to Great Britain for
some of the indispenables of life and
industry.
I'm all the years | have known
America" said Sir Edward, 4 have
never been so struck as during the
last months by her prodigality Amer
leans have long been the champion
spenders of the world, but now they
are making all previous records in that
line look silly. 1t is not merely money
they are throwing about but every
thing-copper, cotton, zinc, oil, lead,
tinber-you can hardly name any OF
the staples of industry that they are
not literally devouring. 1t is an amaz-
ing spectacle.
Will Have to Import.
I'm America you have 130000000
people feverishly tearing from the
earth its irreplacable wealth and using
it to maintain rate Of growth utterly
without precedent in human history.
This terrible consuming power is the
biggest economic fact in the world to-
day. 1t is terrible because it is already
outrunning production. Before long,
while the demand will be as voracious
as ever. the supply will have run
short. Then will there be smash.
Sir Edward recalled that in 1914
America produced about 65 per cent
fof the worlds supply OF cotton, oil,
copper. lead and zinc. Then America
consumed roughly about IS per cent
of the total supplies. Today, while she
/ is producing relatively the same, her
consumption of these commodities
amounts to over half OF the world S
output Ten years from now America
will be producing relatively less and
consuming relatively more. She will
be producing about half of the worlds
output; she will be consuming some
thing like 20 per cent of it. In other
words, she will have to import.
Costly Experience.
It is difficult for an Englishnan to
imagine the United States importing
cotton. Yet this is going to happen,
according to this British industrialist.
voracity of American demands"
30 YOU realize that America is this
wear using in her own mills about 20
DER cent of her cotton crop?" Sir Ed
ward asked an interviewer. Before
| the war she used 20 per cent 1t seems
| that the time is coming when there
will be precious little american cotton
| for the rest of the world to buy. The
southerners seem to think that they
do better with small crops fetching
high prices. What Lancashire, Eng
| Hands textile district, is going to do
| to obtain raw material for her huge
mills | honestly do not know"
America has already reached the
importing stage in oil, and IN FIVE
wears she win be taking in from
abroad. if she can get il, not far short
Iof 1000, 000, 600 barrels, according to
/ Sir Edwards calculations.
ssThat IS what she will require if her
present rate of consumption contin-
lues.1 he said. 1T is with oil as with
cotton, copper. lead and zinc-the
world is nearing a shortage not far
removed from a famine because OF the