THE SUPREME NEED.
Needless to say, I am not suggesting for one moment that in these operations there is any kind of improper action or competition on the part of the United States. Such is far from the case. On the contrary, there is a sense in which America is performing a service by such loans, because, but for them, the New York exchangC might be even more adverse than it is, while it is also true that the money lent goes to stimulate international trade as a whole. Nevertheless, it is impossible to dis- regard the importance of these developments, and a consideration of them brings us back to the problem of all problems in this country, namely, the supreme need for a revival in our export trade and pos- sibly, for the time being at all events, a curtailment of all unnecessary imports. There are some points in finance and economics on which it is foolish to dogmatize. On this one point, however, namely, the necessity for an increase in our exports and an increase in the central wealth fund of the nation, there can be no two opinions.
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