Bisbee daily review., 1909-08-03
GATES RETURNS PROPHESY|NG
 PROSPERITY

 United States is entering into a period of the greatest prosperity the world has ever seen" sad John W. Gates. who returned this week from Europe. MT. Gates was interviewed in the Kaiser suite on the Ka ser deck of the George Washington coming up the bay. He said he didn't see what diff ference it made whether U. S. Steel was listed on the Par.s Bourse or not. for he guessed a quarter of a million Steel common shares were owned in France now. Some Of the French bankers and steel makers would op- pose the listing of Steel common. he said, but that didn't mean it would not be listed after some obstacles were got around.
 America the Safest Place to Invest.
 Europe knows," said he, that there is only one safe place to invest, and that IS America
 Whether Steel is listed on the Bourse or not, there will be a great many shares sold over there. The French investor receives on the aver age only and 3 l-2 per cent, and has hard work to get i-2.
 Each year l come back am more bullish on America and American se- curities, because see the possibilities here and the impossibilities on the other side. Taxes are very nigh in England and Germany. There has been a large increase of taxation in Germany
 Mir. Gates was asked If the rich were alarmed al this taxation. Rich Men Do Not ConIrv,. T do not believe that the very wealthy men of England control her he replied It is the trudger that carries the dinner pail and the torch that control politics in America. The vote of a man worth 1000 counts for as much as the vote of a man worth $1 ,000. 900.
 .I have been a Republican all my life. but can see the value of getting in all the free raw materials we can to open up all the free America work shops We have got to have a free raw uidtttidA II We tO bN O Sh Sat manufacturing country.
 Wouldn't Canada run out of the market on free lumber?"
 You must remember that if we buy our lumber in Canada our forests will be growing. If Canada cuts all her for ests then we will save ours. It is like wheat and cotton-a question of supply and demand. No matter what
 A.A ct.f supply and demand will ultimately govern.
 Gen. Hancock, although people laughed at him, was right when he said: The tariff is purely a local question
 Prophecies Boom.
 Two years ago." said he, T made a statement that people would wear their old clothes. and now they are surprised to find out how much money they have saved. l said in 1907 that the people would econom,ze. The ex- tent of this economy is shown in the bank deposits today. Two years economy means a world of money.
 T think we are going into the pc riod of the greatest prosperity that the world has ever seen. It will be for three or four years the period of the greatest industrial development the world has ever seen Look at the amount of money. s200. 900, that the Unted States Steel Corporation has spent on improvements In Penn sylyania. We'll. it's worth it. Steel common at 71 today is intrinsicaily worth 71.
 Take |. P. which ss worth about 200 today Not much over twelve years ago I bought |. P. at s1o a share. The query is. What rate of in terest will stock pay? That's what the foreign investor has to figure on
 For the last two years 1t has not been a speculative but a liquidating market. For practically three years it has been so.
 q know hundreds of people. my friends. who have bought small blocks of stock. There may have been fifty or five hundred of them. That is the kind of investors that make the mar ket. It is not the man who buys 50.- 900 or 1000 shares at time that makes the market. think our coun- try is now on the most solid founda- tion. while entering upon an era of the greatest prosperity