America and the Balance Sheet of Europe (Classic Reprint)

Many people still believe that present disturbed economic conditions will soon be adjusted, that problems will solve themselves particularly if we refuse to look facts in the face and to admit that conditions are serious. It is urged that business is, after all, merely a matter of psychology and that if we will only banish pessimism and smile confidently though conditions look dark, everything will shortly automatically adjust itself. This economic hypnotism is supposed to have remarkable restorative powers notwithstanding the fact that such things as the foreign exchanges and national budgets have hitherto proved impervious to psychopathic suggestion. In any event, it is believed that time is still the great healer and that somehow or other the world will blunder through to normalcy. The purpose of this volume is: first, to determine the economic and political status of Europe at the present time; second, to appraise the probable effects of the international settlements (including reparations) that have recently been made; and third, to suggest in broad outlines an international policy such as it is believed the situation demands. It is time that the United States cease drifting with reference to international affairs. It is time that we examine, in a spirit of scientific inquiry, the international economic and political situation as it stands today. It is time that we attempt to ascertain the probable results of recent political and economic developments in Europe.
(Typographical errors above are due to OCR software and don't occur in the book.)

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