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The day book. (Chicago, Ill.) 1911-1917, November 05, 1914, LAST EDITION, Image 11

Image and text provided by University of Illinois at Urbana-Champaign Library, Urbana, IL

Persistent link: http://chroniclingamerica.loc.gov/lccn/sn83045487/1914-11-05/ed-1/seq-11/

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vjx' J-ikMfmy lgyNWirpffliffap
(Banker and statistician and student
of international economics.)
"Since the first of August the na
tions of Europe have dropped, back
to the middle ages," declared a Bos
ton banker today, in commenting on
the war.
"You are mistaken," said a lis
tener. "We have never passed out
of the medieval stage. In centuries
to come, when our history has been
written, our century will still be in
cluded as a part of the middle ages."
This remark especially appealed
to me in view of my studies of the
self-supporting features of the vari
ous nations, for history clearly shows
that an advance in civilization and
which they turned to shipping and to
Prance is fairly self supporting,
having a good, sensible mixture of
industries. Agriculture is well de
veloped, mining is encouraged, and
manufacturing is carried on efficient
ly and to a reasonable extent. Prob
acy Prance is the most "all-round"
developed nation in Europe and is
the most to be envied economically
of any of the warring nations.
Russia still stands for agriculture
in the old way, havmg not yet
emerged sirom the medieval stage.
She has -unlimited land; her people
have no ambition beyond tilling the
soil, and she not only can feed ner-
self, but exports large quantities of
the interdependence of nations go j foodstuffs to other countries.
hand in hand.
During the middle ages, to which
the Boston banker referred, every
nation was self supporting and for-H steel works, machinery plants and
eign trade was indulged in Only for
the luxuries of fife. Nations were
not dependent on other nations for
necessities, but each was sufficient
unto itself.
As civilization advanced, nations
gradually developed, certain national
industries and exported their excess
products from other countries upon
which they finally came to be de
pendent ENGLAND
England stands for commerce and
her great industry is shipping.
England is the great middleman
of Europe, performing the same ser
vice on a big scale that the commis
sion merchant in any town renders
to the -farmers and retailers of the
Once England was self supporting,
but with the development of the
steam engine and loom, her-people
forgot the soil and became enchanted
with the wheels ofjindustry, after
Belgium is a strictly manufactur
ing nation. Here are found the great
the most busy factories and mills of
Europe. . The people of Belgium have
left the plow in the country for the
more stirring,life of the city. Belgium
in many ways resembles New Eng
land, as her children have left the
country homes for the city. Hence
Belgium is 'far from self-supporting
and is absolutely dependent on other
nations for her foodstuffs.
Austria is more in the class with,
Russia than the others. She is still
in the middle ages so far as a large
proportion of her population is con
cerned. Her people are ignorant and
inefficient, but they are satisfied and,
industrious, tilling the soil along -tht
old lines. Although such a condition,
greatly handicaps a nation in time.
of peace, yet it helps make that na-j
tion independent in time of war. 4
This leaves us only Germany tOj
consider, Most of our economists-
lfWA . , .-otW

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