The Birmingham age-herald., 1913-06-05

became identified with iron and steel man.
uiaeturing in Illinois and in that work re-
vedied, possibly to his own surprise the
lurking but inherent ability he had for
very great executive administration. 1t
was the kind of administration that re-
! CURED constructive ability-what is some-
times called business craftsmanship.
NO one can read the verbatim steno-
srepnic report of Judge Gary's address to
1he members of the American Iron and
steer institute without discovering in that
ADDRESS, absolutely impromptu as It was,
some OIL the qualities of intellect that have
Jusuned the selection of him as chair
man OF the greatest of the worlds busi-
ness corporations. The stenographic re-
Port which few of Judge Gary's friends
| saw mad not even been corrected by him.
IL stands In the typewriter manuscript
| exactiy as he delivered it. It's English
therefore,, does not represent any polish
] ing. 1t is terse, vivid and there is not
| single cloudy sentence from beginning to
END. Cloudy thinking is always revealed
In the spoken written words. but If n
man thinks clearly and accurately his
language comes naturally. 1t is the un-
conscious expression of his thought
| Ihere are four or five especially impor-
tant thoughts to be discovered in the re-
port or Judge Gary's address First of all,
he makes Acknowledgement of a fact
/
ures OF modern American Industrial and
| financial life. Last fall the railroad COM
pan1es of the United States, particularly
| the grain carriers, demonstrated that thew
mad trained an exceedingly able body of
young men who are perfectly competent
TO take up the work of railway manage
ment when the older men have retired or
passed away.
The Younger Generation
/ 6oa
dress, paid glowing tribute to the younger
men of the iron and steel industry of the
| United States who are, as Judge Gary
said, rapidly coming into the places from
which so many of the older men will soon
| retire. These young men are revealing ex-
traordinary ability. Their achievements
| although not often In the public eye are
! remarkable. Judge Gary says that the
iron and steel industry of the United
States commands about as fine a class of
young men as could be found anywhere
BY education in universities or by prac-
tlcal education they are, Judge Gary ac-
knowledged, better qualified to make
great successes in the iron and steel in
dustries of the United States than have
| ever been made. In the high abilities the
energy and enthusiasm of these men of
the younger generation are to be centred
| the hope and confidence that the United
! States will make and maintain pre-emi-
nence in this great field of industry.
A Frank Confession
Judge Gary's reasons for admitting that
| business conditions of the present time are
not quite as good as the iron and steel
manufacturers would like to have them
are very clearly set forth. He starts with
the premise that there has been consid-
| erable recession in the iron and steel bus
mess. And he purposes pointing out what
4. @I.t to
for he assumes that when the causes are
known then the iron and steel manufac-
turers of the United States will be better
prepared to protect themselves against Sc
rious recession than would be the case If
they went ahead blndly.
First of the reasons which he presents
is the destruction of property of large
value through the deadly effects of war.
1t is impossible to have war in any coun-
try and escape harmful influences in all
others. The European wars have directly
and materially affected; general financial
conditions the world over. They have
compelled Europe to draw vast sums of
money from the United States. That has
caused some stringency in the money mar,
ket in the United States. This of itself
explains some of the recessions in the iron
and steel business.
Legislative and Political Conditions
Iho ulSpOS1tlOn OF some demaS0gueS to
thrive by creating prejudices do, in Judge
Gary's opinion, to some extent harmfully
affect business activity. But on the whole
the outlook Is encouraging. Judge Gary
is persuaded that the interstate commerce
commission will grant the request of the
eastern railroads for an increase of rates,
and this of itself will be very stimulat-
ing impulse to all business, particularly
to that of iron and steel.
What Mr.. Morgan said few weeks be-
fore his death, what Henry M. Flagler
said shortly before he was stricken with
his fatal illness, Judge Gary also said in
this address. Fundamental conditions in
this country, he asserted, were never bet
ter than now. In its natural resources it
is the richest country in the world. Our
wealth is very rapidly increasing. the har-
vests promise to be very large and what
ever apprehension may exist is due chiefly
to superficial conditions and not to funda-
mental ones. The address as a whole re-
veals highly optimistic forecast of in
dustrial conditions in the United States.