Show r. r I Good Move for or America I INAL passage by congress of the Edge bill which now goes to F FINAL the president for his signature might light be considered an epoch in ill the financial relations of America as well as of prime importance I I- I in connection with the trade and financial relations with European L I. countries and thereby of great moment to the industrial life of th the ther e r United States ji As pointed out in a discussion of the Edge bill a few daya days day a ago g o the measure measures in reality is an an amendment to the present federal reserve law or rather the enlargement of or the scope of operations f the federal system in that its main function will be in t. t Connection with export trade affairs t T w L Through the operation of banks to be incorporated under the provisions p pr visions of the Edge a alan bill or which may become associated with t t 1 tile helan plan lan of operations contained in the new financial law l. l w necessary ft credits may be arranged directly or indirectly and by means of oft t ti wh which ch Europeans may continue to resume the purchase of needed f. f American l rican products or raw materials J. il By this means the United States government will wilt feel itself t of any further obi obit obligations to make loans directly and to i t which plan there has arisen strong opposition in this country while J 4 atthe at the same time the new method will ha have ve at least t the e moral support support sup- sup 3 port of the government Reports from Europe are most encouraging as showing the rte pa progress being made by various countries in their plans for recon- recon J T r 8 4 and rehabilitation but it is generally conceded that in order or- or Z der fer to insure or hasten the culmination of these efforts long term f 1 credits must be arranged Sf 0 Such credits can be established under the new financial plan f 4 wand 1 and nd at the same time the investments of the public in th iii banking J l t departure will remain at home j- j F Most certainly the he plan should should- be given hearty s support b by y pili institutions which depend to a great extent upon European Europea trade Arade and which have been urging the adoption of some means byj by bythe j the prevailing exchange problem might be solved o 0 2 |