The Detroit times. [volume] (Detroit, Mich.) 1903-1920, 1914-01-06
BUSINESS is
BETTER UNDER
PRESIDENT WILSON
Continued from Page one,.

reason for their talk is that the stock
and bond markets are bad. In the
face of their whining, the country
shows that its business is greater than
ever"
MIR. Hobbs surprised the Board OF
| Commerce by telling its members
that the tariff governs only one two
thousandth of their lives He had had
| large chart prepared, in which the
activity OF the community was repre-
scented by segments OF a circle. 80
much was represented by social and
church activity; 80 much by govern
mental and protective activity; only
20 per cent by business activity. Only
one-tenth OF this activity is included.
according to Mr.. Hobbs statistics, in
foreign trade.
The Importance Of the tariff has
been vastly over-emphasized.' Mr..
Hobbs said THE reduction OF the
tariff was looked upon as likely TO
cause a great decline in prices. Well,
It hasn't, and IL probably won't The
tariff is by no means as important as
the egg supply OF the country"
About the only effect the tariff Is
| likely to have Is to check for time
the rapid increase In the cost OF labor
European countries won't export
goods TO America and beat down our
prices. because Europe has begun to
face the problem OF a rapid increase
| in the cost OF living. Prices and
wages over there are going up much
more rapidly than they are here.
Even though Ii may be true that the
lower tariff has made IL possible for
many products TO be landed in New
York at figure that Is under Amer
lean costs OF production, the diner
ence has been about made up by the
time the goods are shipped 10 the in
terror OF the country and pass from
the retailer to the consumer. Euro
pean underwear. on which there was
reduction OF 35 per cent In the tariR,
may, perhaps. be brought five per
cent lower than before the tariff was
enacted but who Knows or cares
enough about European underwear to
buy 1t?
"The wooden mills in the east that
complain that they have felt the ef-
fects OF the tariff are not telling the
truth. Their trouble lies chiefly in
labor conditions. | have records to
show that the Globe Wooden mills, OF
Utica, resolved TO close 10 months be
+ fore the tariff bill was passed before
| II was even introduced In congress,
they decided TO close on Oct !, 1913
And when they did close. the papers
said that II was because of the tariff a"
! Mr.. Hobbs Is thin. wiry. energetic
man OF decisive statement He care
| fully explains that he has no ak to
/ grind
III I wanted publicity, I'd buy It,"
| he says.
He carries suitcase full OF fig
ure.s-government reports, trade re-
ports. statistics OF production for the
| past 100 years. all carefully fled
where he can lay his finger on any
item In moment. He is employed
by an association OF 200 business mon
10 do Just this thing-to keep them
posted on industrial conditions the
world over
You can't talk to the public In AZ.
ures-thc public isn't Interested IL
them" Mr.. Hobbs said. 80 let
about something he public Is interest
ed in. Let's talk about the tango,
which has caused the failure Of a
Great many retail shoe dealers. Why
Because they didn't look ahead and
sec tndt the phDllh NoNih VAN ~ bAN
tango shces--lOw heeled shoes
THE trouble with the American re-
taller Is that he consults his lawyer
instead OF his banker I'm NOT belt.
Ting the lawyers. but they don't be-.
gin TO know business conditions as
the bankers DO. Ia Germany, ths
business man. planning for new sea
son. calls up his banker.
81 want TO talk with you he says.
Friday at 2;30 replied The bank
err And on Friday, tho merchant
, spends half an hour outlining his
plans TO the ban kcr, and getting the
: bankers advice
"The Rothsclrild,s have bUflt up
their fortune bg keeping close touch
ON every movAment IN the world n
600 immigrants land on Ellis Island,
IL is carefully noted on their sheets
for II means that those immigrants
are going demand goods and WIZ
have to Ice supplied that their move.
ment 20 America will have some effect
on trade conditions
"In the same manner, the American
d merchant ought to keep IN touch with
what goes on about him he ought
rot to go ahead hlindly. he should
know exactly what he Is doing There
would be great mafX fewer business
failures n the American /fner0haht
would adopt the custom OF his Euro.
peau brother and consult his banker
with greater frequency"