New-York tribune., 1909-03-30
]. J. HILL CHEERING UP
SEES GOOD TINES AHEAD.
Returns to Val Street from, North
scest 5cith Encouraging Reports.

James !. Hin returned 20 this city from St Pam
yesterday. after an absence Of over a month He
was rather more optimistic than usual over the
business outlook, of which said.
business : not going back-in fact there ys
some slight Improvement You might say that
The business Of the country is gradually tina wing
ont from the great frost which struck II in 1901
snd which continued in 1908. There will be no sud
den revival Business was slow going down. and
II VIII ha slow coming up. Nothing else is to be
s,necred But every who has faith in his
country is confident Of Ultimate return of pros
rsri-1. There is nothing in sight to cause A re-
t1l~u to panic conditions Business men are in
cnad TO be more cautious and conservative M
TAT is a sane. Ievel-headed man. and don't
think he Viii Try any rank experiments"
Mr.. Hnl said that one OF the greatest problems
before the country was how TO put end the
s1r-avaEanca OF the government and the peoule
not merely IN money expenditure. but that Of
natural resources For years. lie said ''our peo-
y1e have been like heir come into a vast and
wealthy estate We have been wasting and squan-
der5ug the great inheritance which Providence pro-
,ided And. worst Of all in our prodigality we
have been una BILE distinguish between income
and liquidation of our estate. We have cried In
come. income:' when with income there has been
great liquidation
we cannot plant coal and copper and iron nor
-sn Ne restore fertility to lands that have been
,rc-led 70 death Agriculture Is the rnainstay Of
o,r prosperity. Lat yea the income Of the coun-
,rr from agriculture S7,SGo,O00 1000. That
zeal income To conserve ana increase the pro
6uc-iyity OF our son and TO conserve the unSquan-
de-d o~ticns Of our great estate are objects which
shorld he kept constantly before our minds.
one Of the great things hanging over the coun-
Try * the enormous expenditure, not merely fed
e-aI but and municipal, and the consequent
,aort to produce to meet this expenditure.
I believe This expenditure could be reduced. al
though recognize the difficulties that stand in the
-av of any reduction. and serious effort should
he made in this direction. Economy in government
should be the vatchword.''
Asked regarding the probability Of the railroads
heing in the market soon for equipment, Mr. Hill
said that he did not think there much Ukeli-
hood of while there were two hundred and
seventv-fve thousand idle in the country.
Neither. he said were they buying rails or other
material beyond what was needed 10 keep them up
to the proper physical condition. He added that.
while the roads We're economizing in many direc-
tions, they not doing in the direction OF
heir upkeep. do would not be economy,
but expense. in the long run.
Speaking OF the crop outlook in the Northwest,
Mr Hill said that II was too early Yet To say what
il would be the season little backward
and spring wheat vas in the ground Yet. He
believed. however. that the farmers there were
prosperous and that many OF them were turning
bankers and lending money on property in their
localities al and Per cent
For instance" he said II wants to raise
& loan piece OF property, instead Of going 10
the country bank Re viii go to the farmers in his
locality who have the money and get his loan
Everybody is satisfied and the transaction is sim
plihed. The farmer prefers this TO putting his
money in the local bank at and per cent 10 be
lent back again. AS d result the country banks
are sending their money the cities in search OF
commercial paper This abundance OF money Is
one Of the healthest signs that in the North
rHest'
p Asked as 10 the truth OF dispatch from San
Francisco that his son Louis Hill. president Of
the Great Northern. had had a conference with
E 4 Hartman at which the problem Of terminals
n Portland Gre had been definitely settled, and
an agreement had been reached between the Hill
and Hartman interests in regard 10 dividing traffic
in the territory belonging to each, Mr.. Hill said
r there was any such conference my son has
evidently not thought 1t of sufficient Importance
10 tel me anything about II. There were no de-
tails TO 5e arranged in regard 10 the Portland
matter that I know Of. any agreement 10 be
made with Mr.. Hartman in regard TO division
Of territory The whole thing is simply this: If We
have piece Of property that We are not nslhs
and the other fellow wants II, We let him have IL
We don't rry 10 keep him out II we can oeat
him without doing that deserve to go out OF
business That is the onl yagreement that know
o. and as 10 the reported conference, my son
rrots oly happened to get the same car in which
NJ Hartman was riding and they rode along Tor
Z block or two. chatting together
In repI- 70 the question whether ne had Teah an
article In one Of the April magazines. charging
t,r, and hts associates with having made $4,000
~ out II nothing the expense Of the people, Nj
E5fr1 said h. had not. and then added Some ro-
rsrcss are based on fact, and some on illusion
wish had saved some Of that $4e2""0P-
On being told that there had been sharp rally
IL -ra stock market on his arrival in Wall Street
n Elrl v-rfa expressing surprise that his pres
ercs I'm the financial district should have any ef-
feet on prices said that he was glad To near sucn
had been the result, and that he would come again