Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-03-03
What of Next Four Years?
Continued From First Page.)

tration may bring forth. Mere prophec
is Idle but, on the other hand, Their
Is nothing more legitimate than to con
slider what are the outstanding element
in the political situation at the mo
ment of change, and what forces, boil
in America and in the world outside
are apparently gathering power, wha
interests seem likely TO dominate. ant
what are the means for dealing will
them.
One thing is clear. The next foul
Vears-or eight yearS-wlll not be ike
the last. There are signs that the
period Of "stand-patism" is over, not
only in home affairs but in foreign
affairs as we'll. The country has beer
making itself over. materially. during
the political quiet Of these last years
and now there are many signs that it is
beginning to demand that politics also
shall stir with the new life Of an era
unprecedented in material power. II Is
quite probable that there would have
been a swing in the pendulum toward
more energetic forward-looking policies
even without the stimulus of new
wealth for eight years is about as long
as any vigorous nation is likely to pur-
sue policies Of patient waiting while the
world is moving so rapidly in other
ways Moreover. there is strong ele-
ment in American life which is natural
ly impatient of inaction. President
Eliot was right when he reminded us,
in the course Of the discussion over the
League of Nations. that the American
people love adventure The romance OF
Lindbergh and the interest in Byrd's
expedition are significant Of passing in
dlcations of this interest which has
been unsatisfied in politics these last
eight years.
Industrial Revolution Apparent.
In the field OF foreign affairs now
that the old controversies have died
down, there is q new and forward-look-
ing outlook in the popular mind This
does not mean that the country as a
whole gives foreign affairs the right OF
way. We are still more interested in the
days work at home. The outside world
is far away from most of us, and in a
country so largely self-contained with
immense internal commerce ard indus
try, the problems of domestic politics
are likely to remain the chief interest
for years to come. Nevertheless, the
sense of self-sufficiency is gone. Policies
built upon our historic isolation fail to
satisfy the country as a whole. This is
partly due to the influence of the World
War. but the chief reason for 1t is the
new industrial revolution which is
sweeping over not only this country but
the rest OF the civilized world as we'll
The influence of the World War upon
the United States cannot be easily meas
ured. Politically the country was car
ried back to where it had been before
the war; conservatism during the last
eight years has been the chief keynote
Of administration, and this undoubtedly
reflected the first reaction from the war
itself. Wartime emotions soon sub
sided, and as is always the case with
emotions the reaction was strong in the
opposite direction.
But while the subsistence left the
country apathetic, it was not permitted
to recover the old-time provincialism
and to go back to the quiet isolation Of
the prewar days. Something more real
than sentiment began to hold the at
tention of the United States to the
world outside. This time it was a ma
terial interest, one which did not call
for sacrifice, but promised gain instead.
The United States began its new career
as an exporter of capital to other coun-
tries, and moving swiftly and with the
power of its great reserves became al
most overnight the leading banker Of
the world.
War Debts Caused Breach.
First there were war debts to arrange,
but the element of politics in these
tended rather to separate nations than
to bring them together; the industry for
which they had been loaned was one Of
destruction and could not yield its diyi-
dends except by the taxation of those
whose property had been so largely de-
stroyed. But the funds of private Amer
lean investors went for productive pur-
poses, or at least were supposed to be
devoted to such ends and soon these
funds, drawn from the savings, the
earnings and the loose capital Of all
parts of the country. became so large as
to measure in the aggregate as much as
had been invested In the course Of q
century in some Of our oldest estab-
lished industries at home.
The factories Of Germany and France,
Of Czechoslovakia and Poland, as well
as of South America and Canada, are
now earning incomes not only for great
flnanciers. but for those who live in
little towns and farms as well, from
Montana to Florida and Maine to
Texas. People who a few years ago
had not known the meaning Of bond
are now studying the markets of Ham
burg and Rio de Janerio. A great new
chapter OF American history has been
opened-one which, while 1t lies In the
field of foreign affairs. touches the home
life OF the nation as well, and so. sooner
or later is bound to call for political
adjustment TO its new realities.
This movement of capital abroad is
not merely a product OF prosperity. II
is also a continuing cause Of 1t and,
therefore, is or should be a matter Of
real concern TO the Government, even
II 1t watches without interfering. The
outgoing administration was by no
means unaware of the significance Of
this movement of American capital.
But during the last eight years it has
acted upon the principle which has
generally been followed by governments
in the early stages of new economic
era. 1t has. upon the whole stood aside
to let that era work out its own prob
lens in terms Of business
Government Relatively Inactive.
Except for the vigorous Department
OF Commerce and the competent bank
ing system Of the country, the Govern
ment itself was relatively inactive. The
period OF Mr. Coolidge's administration
viii stand in history chiefly as BUSH
ness era ratner IMAM one OF notable po-
litical achievement, with the exception
Of Mr.. kellogg's treaty negotiations in
the closing days of the administration.
Now the policy Of laHsez-faire in for
eign affairs comes 10 an end sooner or
later, just as 1t does in home affairs.
III the course OF the nineteenth CEN
tury every civilized nation learned the
same lesson for ltself--that with the
growth Of industry there were national
interests TO be protected and conditions
OF labor to be prescribed. The problem
OF social justice could not be left TO
these whose self-ntereSt lay in the ex-
ploitation Of either the laborer or the
consumer The scope OF government
was then enlarged in most countries TO
something like paternal oversight, II not
control and management. of some OF
the chief industries This Is the move
ment from liberalism 10 radicalisrn
l0y in the Six ,e