uch isolated community,
lacking some of the essential resources. It is therefore quite natural
that her trade figures should show such a result. The same thing is of
course true of Japan, Germany, Holland, Belgium, Italy, France, and in
fact most of the important industrial countries. This is taken as a
matter of course. Oddly enough, however, it is likewise true of the
United States, which is as near to industrial self-sufficiency as any of
the leading industrial nations.

Among the 5,278 millions of dollars worth of commodities imported by the
United States in 1920, there were 40 million pounds of aluminum, 143
million pounds of rice, 345 million pounds of cocoa and cacao, 1,297
million pounds of coffee, 510 million pounds of hides, 152 million
pounds of fresh meat, 603 million pounds of India rubber, 260 million
pounds of wool, 510 million pounds of paper stock, 1,460 million pounds
of paper, 8,074 million pounds of sugar, 4,459 million gallons of crude
oil, 130 million skins, and so on. Here are extensive imports of hides,
oil, paper, sugar, coffee, wool and rubber--seven of the most important
items of modern commerce. Well supplied as it is with varieties of
climate and resources, the United States is nevertheless compelled to
import large amounts of some of the most essential raw materials. Like
the nations of Europe, it is forced to depend, for these and other
industrial essentials, upon portions of the economic world that lie
outside the national boundaries.

An examination of these and similar figures tells the story of the
industrial future--a story of limited, localized resources upon which
the expanding industries will be compelled to make ever increasing
demands. Since all of these demands cannot be met there must ensue a
ferocious struggle among the nations to secure and hold the resource key
to economic advantage. The beginnings of that struggle have already been
witnessed in the contest between France and Germany for the coal and
iron deposits of Western Europe. Its next stage will include a struggle
between Great Britain and the United States for the possession of the
world's reserves of oil. Such a struggle, with its appalling toll of
suffering and chaos can be obviated in only one way, by an
apportionment, among the users, of the chief raw materials, through an
agency in whose direction all of those concerned have a share. This
result could be accomplished by the resources and raw materials board of