Evening star. [volume] (Washington, D.C.) 1854-1972, 1925-12-31
More Freedom to Business.


Generally speaking, the administra-
ton has tried 10 get out Of private
business, has proclaimed IL principle
of minimum interference and maxi
mum freedom to the individual and
to industry, but the intervention of
the Government in business for the
protection of the consumer has been
unoificially almost as powerful as II
might have been with specific legis-
lation requiring such intervention.
For the truth Is the business of the
world. so far as the United States is
concerned, has become so great that
regulation is a natural function for
the Government TO pursue. Thus has
il been evident that economic Wash
ington has superseded political
Washington. Fiscal economy, tax
reform, combinations of business in
foreign fields. systematic plans for
cooperative marketing of products of
the farm, supervision of foreign loans
and the administration of tariffs have
absorbed the Government, along with
problems of land and ocean transpor-
tation, 50 that even so large q sub
ject as the American adherence to
the World Court has been treated
as a relatively secondary matter ex-
cept as it might imply larger aspects
of economic cooperation later on
among the nations Of the world,
Deep Interest in Europe
While the cry OF the politician has
been to remain f'aloof" from Euro
pean affairs, the actual process has
been to take a deep interest therein
every minute of the time. America is
INTERVENING itself gradually in the
economic life of Europe, and the
Washington Government Is watching
the process with apprehension lest its
political cooperation be at any mo-
ment sought, or lest the extent of the
economic cooperation go beyond the
bounds of reasonable expansion.
All this is vitality important, not be-
cause it discloses the trend of thought
in Washington during the past year,
but because it portendS what the year
1926 and the years thereafter may
bring. Officials are not given to ex-
plicit prediction. They know no more
about future events than the sooth-
savers outside the National Capital.
But they analyZe cotemporaneous
happenings with a knowledge of
cause and effect in past experience.
And the biggest single fact is the
utter confidence of expansion which
characterizes almost every converse
ton.
Old World Improving.
Everything is relative. Of course.
but to start with Europe as a basic
factor no one here will deny that Eu-
rope today is better off than the
Europe of unsettled reparations; the
Europe Of Poincare and intolerant
nationaism; the Europe of a discount
cd M n Of
American dollar, and the Europe of
revolutionary and communistic scares
Of five years ago. Europe may be far
from the goal. but she is better off
than she was a year ago and five
years ago.
American prosperity Is not depend
ent by any means on Europe, but 1t
is nevertheless affected by 1t and
aided by economic stability rather
than confusion abroad. America also
is disturbed when Europe begins to
turn back American SURPRISES. The
year 1925 has shown a vast improve
ment In American foreign trade and a
distinct tendency on the part of the
American investor to risk his capital
in foreign securities. This has been
so pronounced that the activities of
the Federal Government have risen to
the point of friendly counselor with
respect to large foreign loans, check
ing the abuses that might have fol-
lowed the overzealous solicitors Of
American funds. Thus the American
Government is watching the opera
tons of the Dawes plan, cautioning
investors and bankers to be sure of
the way the transfer problem is going
to be solved. urging the world to solve
the question Of payments In exchange
teither with goods or gradual ABSORB.
ton Of capital.
Hardly less vital has been the