The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1923-01-16
]. S. WASTING
RAW MATERIAL
sAYSEC0N0MIST'
British Student Sees America
:: ao Wastrcl While World
Crisis imperils
COUNTRIES AFFECTED

London, Jan. 16.-America's de
mand for her own natural resources
oil, metals, cotton and the like
is so great that a worldwide short
age of these commodities is fore
seen; while an economic crisis, even
a;collapse, is predicted for the Unit
ed States as result of the unsati-
able and voracious consumption of
the raw materials of the country, ac-
cording to Sir E. Mackay Edgar, well
known British industrialist and fl
nancier who has returned to London
from his annual visit to America.
All countries will be affected, but
the United States most Of all, and
the best policy for Great Britain, ac-
cording 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 indispensi-
bles of life and industry.
"In all the years l have known
America" said Sir Edward, 81 have
never been so struck as during the
last two months by her prodigality.
Americans have long been the cham
pon spenders Of the world, but now
they are making all previous records
in that line, look silly. 1t is not mere
ly money they are throwing about,
but ything-copper, cotton, zine,
oil, lead, timber-you can hardly
name any of the staples of industry
that they are not literally devouring
1t is an amazing spectacle.
"In America you have 130,O00,O00
people feverishly tearing from the
earth it's irreplacable wealth and
using it to maintain a rate of growth
utterly without precedent in human
history. This terrible consuming pow
er is the biggest economic fact in
the world today. 1t is terrible be-
cause it is already outrunning pro-
duction. Before long, while the de-
mand will be as voracious as ever,
the supply will have run short. Then
there will be smash"
Sir Edward recalled that in 1914
America produced about 65 percent
of the worlds supply Of cotton, oil,
copepr, lead and zinc. Then American
consumed roughly about 35 percent
of the total supplies. Today, while
she is producing relatively the same.
her consumption of these commodi-
ties~ amounts to over half of the
worlds output. Ten years from now
america will be producing relatively
ess and consuming relatively more
She will be producing about half the
worlds output; she will be consum-
ing something like 70 percent of it.
In other words, she will have to i'm
port.
1t is difficult for an Englishman
toimagine the United States import
ing cotton. Yet this is going to hap
pen, according to this British indus
trialist.
do you realize that America is
this year, using in her own mills
about 70 pefcent of her cotton crop ?"
Sir Edward asked an interviewer.
Before the war she used 20 percent.
It 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 price.
What Lancashire, England's textile
district, is going to do to obtain raw
material for her huge mills 1 hon
estly do not know"
America already has reached The
Importing stage in oil, and in five
years she will be taking in from
abroad, it she can get it, not far
short of billion barrels, according
torSir Edwards calculations.
"That is what she will REQUIRE if|
her present rate Of consumption con-
tlnues," he said. at is with oil as
with cotton, copper, lead and zinc
the world is nearing a shortage not
far removed from famine because
OF the voracity of American demand.
Our business as Britons," con-
ciuded Fir Edward, sis to sit tight
on what we have and to exploit all
the oil, cotton and metal possibilities
of the non-American world. In that
way we shall do more than safeguard
our own positions: We shall be able
to supply America with the commo-
dities she must have to keep going.
She will have to come to us for some
of the essential means of livelihood
1t will be costly experience for her,
but, so-sfar as can see, America
cannot escape it,"