The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1903-09-23
WE ARE
GOING TOO FAST
Business in the United States as
Seen by an EngliShmaH.
SEES SOME LOST CHANCES
CRASH TO COME AFTER PRESI-
DENTAL ELECTION.


London. Sept 22.-In the course Of a
two-cOlumn article from an occasional
American correspondent. the @London
Times today printed an interesting re-
view of the development OF business
IN the United States. The writer, who
returned home after an absence Of
nearly two years." took an extended
trip through half the states in the
Union" He says:
Never were my countrymen 50 de-
voted to business. The average man
in the United States is giving at least
an hour more per day to his business
concerns than he did ten or twelve
years ago"
The writer attributes this increased
energy, first. TO the renewed national
spirit and the increased responsible
ties resulting from the Spanish Amer
lean war, and, second, to the, sense OF
economy "imbued from the severe de-
preston of 1S93-1S97,' though he does
not overlook the display of vulgar
ostentatiOn and almost criminal waste
by a small number. of rich. idle people
in the lager cities.
In minutely analysing Americas fu-
ture in the world of trade. the writer
says:
In the matter Of foreign trade the
manufacturing American has great am
billions. He would like to trade with
all the world.
Belief in Destiny.
He could not explain this aspira-
ton. but he might fan back upon his
belief i'm destiny, which is as strong in
him as il is in a MOhammedan soldier,
whose death in battle carries him into
| Paradise. The American has come to
/ have the strongest faith in his gift for
IA, - nfh
| people somehow are losing that power
and he is convinced that it is only a
question of time when the financial
! center will be shifted to New York or
/ Chicago. He does not take into &C
count the fact that he has not YET de-
veIoped a banking system flexible
enough to adjust itself to a commercial
I crisis"
Trades unionlsm, the writer declares.
! is weaker I'm the United States than
/ before. and while the wages in skilled
| trades advance, those in UnslKilled
| trades decline.
Replying to a question as 10 how
| long the present period Of prosperity
/ is likely 10 continue. the writer says
| the general feeling in the United states
! predicts it viii last until the next
presidential election is settled" He
/ concludes with the following remarks
anent foreign trade:
Lost Chances.
ITO my mind nothing is clearer than
I that whatever chances many Ameri-
/ cans had at one time Of getting slowly
| but surely a paying foreign trade in
manufactured products have been lost
/ for the present
First. through ignorance in not
! knowing and not learning the condi-
I tiOns existing in foreign countries.
Second by trying to make a place
I for their products in crowded COM
( munities whose peoples have great ex-
/ perience and ample capital, instead OF
! outside or neutral markets.
Third. by inability to seek or take
| the advice of those who knew or who
J had the chance to know.
| Fourth, by inOppOrtuneness Of ef-
fort and, as If these were not enough,
! Fifth. by rushing blindly into COM
! binatiOns. many of which are purely
, speculative. and then proceeding to ad-
! vertiSe all over the world their inten-
ton to take everything and leave moth
ing for anybody else. This laundering
in index has not left much for the text
to say or threaten and little for its au-
| thOTs to do.
Makes a Prediction.
These. however. are mistakes thai
| will be overcome in time. When the
home demand declines, when prices
and profits. both in America an,
/ everywhere else, have come down t
their natural level when half or three
fourths of the sO-called trusts have
gone To- the wall like other speculative
I companies. and. finally, when the
overwhelming desire for publicity anC
/ advertising has given Way TO a careful
study of the conditions I'm the fou
quarters Of the globe. then viii Amer
lean competition become pT0fita bic @
itself without being of necessity hurt
full or dangerous to the industries o