The Bozeman courier. (Bozeman, Mont.) 1919-1954, 1923-08-29
SMOOT FINDS EUROPEAN CROP
INCREASE.

Senator Reed Smoot has just re-
turned from an intensive study of
the European situation, and among
other views which he has expressed
is the following:
"One thing was noticeable in Eu,
rope, and that is that never for fifty
years have there been such wonderful
cropsAas this year. l believe Europe
will be able to produce almost enough
for herself, and as a consequence u
foreign markets will be restricted,
which will seriously affect the prices
Of farm products in this country,
which are at the present time very
law"
Senator Oscar Underwood, the in
ternationalist, and the democratic
; party generally, have been launching
attacks in recent months on the Re,
publican administration, melted os-
tensibly by the slump of our exports
Of foodstuffs to Europe, but due in
the case of the Democrats to that
! general bombardment of criticism
and invective with which the "outs'
assail the Gins"
The general tenor of their crit
cism is that food exports have fallen
off because we have done nothing to
help Europe, while some of them
c%onjure up their old bogy, the pro-
tective tariff, and blame that for the
slump. The farmers are advised that
if they will get US into the league
of nations, or return to a low tariff
basis they will profit by larger ex-
ports of farm products to European
countries.
But reports based on personal in.
vestigation by individuals who speak
with authority, and by commission:
and commercial bodies, are unanimou.
in ascribing our decreased exports Of
food to Europe to two factors; first
the swift regeneration of agricul
tural production on that continent
and second, to the lack of credit pos
sessed by European countries, anC
the first cause is the one most EN-
phasized.
A special committee selected by tn
department Of agriculture to make
study Of the probable foreign deman,
for American food products recent,
reported that:
"The European nations are gradu
ally approaching their pre-war leve
in agricultural production especial,
| importing nations, which are endeav
oring to make themselves independ
ent of outside food supplies. More
over, crop conditions are much NOR
l favorable this year. Revival of pro
duction in Europe is more NANTES
> in agriculture than in manufacture.
, AS for the credit phase of the sit
uation, George M. Reynolds, the Ch.
cago banker, after a six months tou
of Europe, returned to say:
"The United States can do nothin
: to help Europe, so it would be bette
7 to turn its attention to home prof.
lens, which are more important
this time. The people of Europe hav
no credit with which to buy whs
they need. There is no way of or,
ating this credit now. No one in Ell
rope can offer any suggestion for e
fect1ng a change. How, then, ca
we? All the money, all the brai1
and ingenuity of America has al
needed in America. Europe former
took most Of our surplus farm pr
ducts, bat can do so no longer"
The statistics of our foreign traG
indicate that during the fiscal We;
1928 cur exports of farm implement
to Europe were far greater than the
were curing 1922, another Indicate
of the rapid development Of agricu
ture on that continent. No party al
TO policy in America can change su,
conditions, but we can and ought
edapt ourselves to them.