Much gratuitous advice has been given to poor Europe. Europe is told to balance her budgets, to! re-instate the gold standard, or} failing this, to stabilize her! currencies; to levy higher taxes—|{ in a word, to behave according to} the rigid precepts of a conservative political economy. Good, sound, old-fashioned economics, but they are the preaching of categorical imperatives about as impossible to comply with as the friendly advice to a man_ falling off the Woolworth Building, to whom one would say, "Go slow, my friend, better take your descent in easy stages; or, better still, go back to your starting place and don't fall."
History, after all, like the experience of the individual, is the very besf- teacher. After our Civil War the recovery of the southern states, with their currency wiped out, their obligations repudiated, would have been delayed for generations had they not been part of the greatest inter-state free trade area in the world. Free interchange of goods, commodities and service unhampered by artificial barriers was immediately resumed. I believe and hope that Europe will sooner or later profit by this experience in our history. It is high time, now that self-determination has been at least measurably accomplished—though not in all cases_with full justice—that the snarling; and bickerings and quarrels of SSurops should cease and be replaced sound principles, mutual understanding and mutual ce-operation. It is high time that Europe should cease her criticism of the aloofness of the United States, and that the various nations get together for their mutual interests.
The British review, "The Round Table," observes that many Americans had felt acutely that the United States should take a hand in the work of reconstruction, but that these Americans had also felt that the greatest necessity of all was that the nations of Europe should begin to show some kind of Europe: community. This is well said. America is very little inclined to play a part in the European concert, and when she receives the flattering invitation of assuming leadership she must refuse to accept the baton of a guest conductor. But America will not withhold her ce-operation from a Europe which shows some sense of European community.
England, a creditor nation for More than a century, maintained her financial supremacy, not by} collecting and spending, but by; collecting and re-investing what she collected. The statistics of the: growth of her foreign investments, show that her foreign holdings have been steadily built up by the: accumulation of interest. America, back to her in the form of interest and sinking fund payments, will necessarily be on the lookout for safe and profitable re-investment opportunities. The problem of finding markets for her exportable surplus of goods will be paralleled by a not less vital one—the finding of employment for: her exportable surplus of credit. Not in the form of gigantic international loans—L must confess that my imagination stalls when they are under discussion—but the future holds for the American investor countless attractive opportunities which, as time goes on, he cannot afford to neglect, if once Europe gets together on safe, sane and practical lines. That such a movement is going on on the Continent is without question. There are innumerable instances where these sifent forees—constructive, friendly, ce-operative—are actively at work. A loan to Austria guaranteed by her former enemies; German Treasury Notes assumed by British and Dutch banks; a French group and a German group coming together in an effort to effectuate on a practical basis the reparations in kind; the Soviet government _recognizi the vested\ rights of a British corporation; Austrian banks re-establishing their branches in the succession states; are facts which show that Europe is fast coming back to her senses. These are not quixotic or fantastic suggestions. Europe is putting herself in line with them.
Keep faith with Europe? Surely there is no other way out either for Europe or ourselves. From the ethical point of view, our duty to stand by Europe attains the heights of a moral law, which we cannot possibly escape. I think that it was Plate who said that the man who could live alone was either a god or a beast, and this is as true of nations as it is of men. From the cultural point of view, America refuses to turn her back on the nations which have shared with' her their art and their learning. America's soul, so full still of the poetry, the songs, the legends of the old countries, can never give up her yearning for the European shores. America must keep, will keep faith with Europe, but Europe must do her part and keep faith with herself.
A deliberate attempt has been made to burn down the offices of a Chinese newspaper published in Hongkong, the "Yoi Kwong Po." A quantity of sacking soaked in kerosene was found by a police sergeant blazing on the open staircase, which was just beginning to catch fire, and only immediate action averted a conflagration. It is stated that the paper in question favoured the cause of Dr. Sun Yat-Sen previous to the latter's flight from Hongkong, but it is understood to have forsaken that cause recently, much to the chagrin of Dr. Sun's followers in Hongkong. It is believed in Hongkong that the attempt at arson wag inspired by. this change of policy.
Heals and Strengthens the Lungs:
Keeps Colds and Chills at Bay The discovery of the Peps breathable treatment solves the problem—hitherto only met by a costly visit to the Alpine pine-forest resorts—of applying a natural, volatile healing agent direct to the throat, chest and lungs.
Peps owe their wonderful potency to the ingenious idea of condensing lung-healing pine forest air into handy tablet form. When: stripped of their silver wrappers and slowly dissolved in the mouth, Peps instantly fill the throat, bronchial tubes and lungs with powerful healing and germkilling fumes. This volatile Peps medicine is at once soothing and comforting and it penetrates straight into the inner tissues, Cold and influenza germs lodged in the lining of the throat and breathing passages ore quickly exterminated. At the same time, sore inflamed membrane is healed and strengthened; breathing is made easy, and the cough and chest tightness are quickly relieved.
The Peps direct method of treating trouble in the breathing organs is thus different and infinitely more effective than the old method of dosing the stomach with liquid "cough-cures'' and nauseous syrups. Moreover these old-fashioned mixtures are usually loaded with opium, chloral and other dangerous opiates and narcotics.
Peps are the handiest and most successful remedy ever discovered for coughs, colds, bronchitis, bronchial asthma, night chills, early morning coughs, malarial colds, sore throat, laryngitis, cold on the chest, old age coughs or children's chest and lung weaknesses. Guaranteed absolutely free from all dangerous drugs Peps provide a pleasant, safe beneficial medicine for young and old. Obtainable only in sealed glass bottles of all chemists and medicine dealers in Shanghai, Hongkong and The Starits. Full directions enclosed.
Text read from the printed page and cleaned; old type leaves the occasional error.