Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1923-04-17
PROSPERITY DOOMED
SAYS BARUCH WHILE.
FARMERS UNORGANIzED
Producer Must Prepare 10 Market
Goods on Big Scale, Says For
mer War Industries Chief
INDUSTRY NOW ORGANIZED
Farmers Buy From Organized
4 Business and Sell as Weak In
y dividuals, He Says
By EDWARD THIERRY
NEA Service Staff Writer

lCopyrlght, 1923, by NEA Service.)
NEW YORK, April 17.-These are
the two big things that must be done
to insure continuation of prosperi-
ty in America, says Bernard M. Bar
ueh, fnancier, economist, and former
chairman of the War Industries
Board:
The farmer must organize COM
mercially to market his goods coop
cratively on big business scale in
order that he vii have a fairer rela-
tionship established between what he
produces and sells and what he buys.
Industry, labor, and business are
organized to help themselves. The
farmer remains outside. For his own
salvation he must organize CONNER
ciaIly or he'll get nowhere. He buys
from organized industry, and he sells
as weak individual The credit and
other legal machinery has been pro-
yided for his cooperative marketing.
but he has not yet been able to rise
above internal quarrels between rival
agricultural organizations to safe
guard his own pocketbook.
above all the Preparations cues
ton must be settled in an equitable
way; first, so that there shall he M
situation like AIsece-Lorraine, which
will surely end in another war; SER
ond, so that Germany shall not be
forced to undertake an impossible
payment; third, so that our farmers,
workers and business men will not be
injured by Germany's escape from
lust statement"
Baruch thus implied his statement
that a real danger now lying ahead
is in German domination of world
trade in case war reparations are
fixed at too low a figure. 1t would
be more dangerous to America he
declares, than if it were fixed at foo
high a rate.
Our prosperity is not the whole
ling" he said. ct is question of
@onor, with which business is mex
tricably bound, We are in honor
bound to see justice to Germany as
we'll as to France"
Baruch believes that America mnst
have a share in fixing Preparations be-
cause it is moral obligation under
taken at the tine the armistice was
signed.
-" will be rather grim Joke on
us" he said, ''if we will not recog-
nize this obligation even from a sell
fish point of view We ought not al
low Germany to escape on the ground
that she is too moor If we do, we
will find that it is ourselves who are
noor-made poor by hard times
and Germany . commercial power
ruling the world. Then Germany GER
tainly will have won the peace. Nor
should we permit Germany to be de-
stroyed by over-burdening her or
stripping her of her territory.
Suppose American railroads and
Industries, manufactures, cities,
states, and the United States govern
ment itself could get rid tomorrow of
all fixed charges, mortgages, bonds
and interest! Cost of production Of |
everything would decrease tremend-
ously; prices would go down. That
IS exactly what will happen in Ger
many with too low reparatiors-with
all fixed obligations practically repu- !
dated by initiation, with nothing to
pay externally or internally except
their own industrial taxes.
Our country has in our federal
budget alone annual fixed charges of
$4,000, 100000, of which $780,
100000 grew out of the war How
could we, or any other country, stand
up against Germany's low cost of pro-
HuctlOn When she eHefSeS Oh q new
gold basis that she is bound to set for
herself if the reparation is not fairly
determined"
This danger threatening American
will probably be avoided,
Baruch believes, if reparations are
set at 12,5OO,OOO,OO0, which figure
not including the $2,5OO,NO0,OOO al
@ady paid he was the first person
among world statesmen and fnan-
ciers to declare to be a just amount
He acccntuates the necessity of
freedom of action by Germany, the
restoration of her territory when the
amount has finally been determined