Salt Lake Tribune | 1919-03-22 | Page 6 | America Leads

AMERICA LEADS. Our European allies do not intend to purchase any more of our manufactured products than absolutely necessary dur-., dur-., ing the period of reconstruction. France has followed the example of Great Brit-aiu Brit-aiu in placing an embargo on imports. These two governments have established es-tablished a pool in this country to control con-trol whatever purchases they need to make, and Italy is said to be co-operating with them to a limited extent. The announced policy of the allies is to do without such articles as they cannot manufacture for themselves. There was more or less of an outcry in the United States when Groat Britain placed the embargo, anti-British and pro-German newspapers being especially ; vindictive. But the embargo was not leveled at tho United States alone, but took in all the other countries as well. It also developed that Great Britain is ' not financially able to purchase large j amounts of manufactured products and ', import vast quantities of food at tho ' same time. A heavy balance of trade against her would spell ruin. France is much worse off, while Italy is making a desperate struggle to make both ends meet. The British government has merely put a protective policy into effect ef-fect for the time being, a policy which has been in vogue in the United States ever since the civil war. So wo have no legitimate excuse for complaint on that score, especially when we take into consideration the fact that our tariff rates are certain to 'go higher in the near future. According to the Washington dispatches, dis-patches, the policy of the allies is expected ex-pected to result in a distinct advantage advan-tage to the United States, for the allies must curtail their competition in the foreign fields in order to take care of the homo population. They will be compelled com-pelled to depend upon this country for some of the basic materials, and it may be that American capital will be relied upon to finance the European countries. This would reverse the situation existing exist-ing boforo the outbreak of the great war, when so much of our earnings wont abroad in tho shape of dividends and interest. The United States has more surplus gold than any other country in tho world. We can supply capital to Europe, Eu-rope, South America and the orient, and have enough left for development purposes pur-poses here at homo. So there does not appear to be anything radically wrong with our present and future trade prospects. pros-pects. Our stores of natural resources are practically inexhaustible, we have no rivals worthy of note in the agricultural agricul-tural field, and we are certainly destined des-tined to become the greatest of all manufacturing countries if we take full advantage of our present opportunities and invado all the foreign trade fields with our wares. Ko doubt Great Britain will export her products to the full extent ex-tent of her ability, even during the period of reconstruction, but she is laboring under a heavy handicap at the outset. Our joint selling agencies, organized or-ganized under the Webb-Pomerene act, will prove of great help to American exporters in the struggle.