Show AMERICAS NEW FEW PLAGE PLACE many americans fancy that because labor Is well employed and our industries have been reporting substantial cain ings and improvement over the depression period normalcy has been restored the truth Is what we must consider normal in the future will be an entirely different tiling thing from what was considered normal prior to the war ono one reason Is our new place in the world as the leading creditor nation that change Is a permanent one we are not going gain to return to the tha old position ot at debtor nation bankers in the agricultural communities have come to the conclusion that we cannot afford to main tain an attitude altitude of isolation and that opinion Is not a personal one the men I 1 have talked with are voicing the ideas ot of the people with whom they have dally daily business contact A great many poll politico tico econom economists ests have warned against americas en I 1 t n t a the european situation SY ahat that our foreign trade makes up P alsa than ban 20 per cent ot of our production and therefore la Is too small an item to be vital or to risk our investment in they forget arget and most moat peo ale who have listened to them forget that the unimportant 20 per cent Is the difference between full employment of our industries and labor and much unemployment and business de it if a manufacturing enter prise Is running at 90 per cent of ca opacity it may be making a airey fairly airly good showing ot of earnings but it Is not running at normal and la Is not earning the margin which it should earn in order to be ully fully prosperous it appears ob that we shall have to build up foreign investments in this country but it will be necessary to go slowly in the matter ot at foreign investments there must be assurance that what ever we loan will be used lor for prodie tive purposes william E knox second secand vice president Ameri american cap bankw association |