Show A T V J THIS I Aid And Only n for r Thrifty I IA A CAREFUL review of conditions in various European countries offers proof of the soundness of the decision reached by the American government to take no steps leading to further loans of ofa I Ia a s substantial nature to any of its allies This action on the part of the Washington authorities leaves to private interests which soon may be able to operate in connection connection connection con con- with the institutions authorized by the Edge bill to grant such credits as are deemed necessary to insure a purchasing power on the part of Europe as a whole and thus create a market for American products It It lt is reasonable to expect that the credits credi s that will be arranged arranged arranged ar ar- ranged through the operation of the Edge bill will amount in the aggregate to only a a. comparatively small percentage of wh what t some economists of Europe have declared would be necessary in cash loans from the United States if Europe were to be saved from political and industrial ruin However these contemplated credits undoubtedly will be sufficient sufficient sufficient suf suf- suf- suf for the actual needs of and restricted to th those se countries which evince a sincere sincer disposition to work out their own salvation salvation salvation salva salva- tion through thrift and economy on the part of their people as a whole Europe needs foodstuffs foodstuffs' and raw materials and these in adequate adequate adequate ade ade- quate quantities will be supplied through continued credit arrange arrange- ments Until these these raw raw materials can be transformed into finished products and shipped back to American markets it is not reasonable reasonable reasonable reason reason- able to expect that the trade balance now so heavily turned in favor of the United States will begin to move in the direction of normality as indicated by any ad advance vance in the rate of exchange regulated to a 3 great extent by the trade balances between the various co countries Production and economy alone will restore the balance of exchanges and only those peoples who display these characteristics sho should be favored and and these only with judicious credits I |