Show Our Da Dangers gers as Creditor 1 I Ir j r H HE Uni United e States may ay b. b be a an isolationist r-l. r in m politics but it isn't in m finance t American money in fabulous sums has hasi t een i flitting into the fa far corners of f the globe on all aU sorts of speculations and investments This country in a few short years has f j jumped from the debtor class to creditor creditor I I f Even England the worlds world's great lending t ower- ower has been taking a back seat New NewYork York has been superseding London as the worlds world's s 's financial cen center ter All All that sounds wonderful We boast of th corner on gold that we have in our nati na- na ti inal treasury Yet we overlook the Uie fact that in in a a few years ars during and after the World war r the 1 United States States' has experienced experience a revolution of gi gigantic a tic proportions Its It's a stupendous revolution revolution revor revo revo- r lution ution for a country to change from a borrowing bor bar rowing nation to the worlds world's chief creditor And dont don't t forget that such a revolution has its IHs dangers af Economists tell teU tellus us we must give up our notions about tariff walls How is the borrower to pay his debts unless the creditor him to send the thin things s he produces produces' 1 On the other hand the idle gold that mat lies Jn in our vaults may maybe be the worst thing for us Gold Goldis is only valuable as it itis is used Unless we fe can put the gold to use in industry and development it is a curse it is about as usel use- use l s as so much dirt Herbert Hoover and andone one of the country's n tl ading ing financiers Thomas W. W Lament Lamont 4 warnings this week on the great international in- in danger our money may cause tt money plentiful and cheap in this county coun coun- y ty investors have turned to foreign n specula- specula t m in hope of richer returns Millions of dollars ollars sent to foreign n co countries un tries since the thew w ar never will be repaid Much indiscriminate indiscriminate indiscriminate nate nate loaning has been done But the grave risk to the the- United States is that those who t. t have splurged in wildcat international loans rihl will seek the aid of this government in collecting col col- 1 the worthless debts The more money that goes into foreign fields the greater will willbe 1 be the demands of American financiers for governmental protection Our financiers may be b preparing the foundation for imperialism imperialism- q So Sp it was timely that Mr Hoover and Mr L t. t urged more careful loaning to foreign for for- eign governments g and corporations corporations- 4 The he United States still is filled with wih limit- limit J ss potentialities for investment and develop develop- j 1 nt to Investors do not need to hunt in far f Mands for golden opportunities Our national resources es and human possibilities are scarcely O Touched l For many decades yet American i finance finance can render its best contribution by I working at home |