New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-12-09
SHOWS 1915 AS
OPPORTUNITY YEAR
A. M. Harris Outlines
Prospects at Sphinx
Club Dinner.


point OF banker, Of what 1915 may
mean economically to the United States
was presented TO the Sphinx Club last
night at its dinner at the Waldorf
| Astoria by Arthur VI. Harris, of the
Harrls-Forbes Company. Opportunities
ore created by US, not for US, declared
Mr.. Harris. Intensive development,
economy, efficiency and cooperation,
he declared, are necessary if the Eu-
ropean war is to bring any advantage
to the United States.
Only a superficial view, said Mr.
Harris, discerns an unqualified ad-
vantage accruing 70 me United States
as a result Of the European catas-
trophe. Advantages in no way con-
nected with the war, such as the Fed @
eral Reserve banking system, the
Panama Canal, cooperation between
government and big business, the wane
OF undertaking, constitute tools with
which we can make our opportunities.
The Continent Of Opportunity"
South America the subject Of a
considerable part of Mr.. Harris's
speech. The path to those nations and
TO China, said Mr.. Harris, was partly
cleared by the new banking system.
1T must be said here, however" he
said, chat there is an aspect largely
overlooked in figuring a rapid growth
of trade with South Anne -ica. The an
aual value Of South American imports
from France, Germany and England
has been estimated at s400,000,000 But
a large share Of this aggregate goes
hand in hand with large loans to
South America by Europe.
For the countless enterprises there
in which European nations are inter-
ested Europe gives South America a
certain bank balance in London, Berlin
or Paris. South America pays for its
imports by drawing on that balance.
In the Argentine, for example, Eng
land. France and Germany have an
estimated investment of S500,000,0OO.
And of the Argentine's exports, about
S25,O00,000 represents the interest pay
ment on this investment. This is trade
that the United States cannot get.
"Our trade opportunities would seem
10 lie more in the western countries
than in the more usually considered
countries on the east coast. In gen.
eral they are poorer than the eastern
countries, but they are richest in the
specific things which the United States
can profitably import, such as gold,
silver, copper and nitrates, and in lie
turn for which we can sell our finished
products. In this particular connec-
ton, we find still another factor that
works in our favor az this critical
juncture-the Panama Canal"
It is Mr. Harris's opinion that tie
public at last has decided that the
Undertaking attitude" is not only
foolish but harmful and that we are
about TO see what you and | have
never seen-real cooperation between
the government and business" The
same cooperation, ne believes, Will
prevail between capital and labor.
More important than the hopeful
facts cited by him is our attitude
toward them, said Mr.. Harris. Hitherto
our prosperity has grown without our
bothering TO inquire as 70 reasons.
Extravaganza became a national vice.
Now, whatever our Ignorance regarding
the reason Of our wealth, we must
realize that material factors in its
growth have been destroyed. With
this realization a wave Of economy,
which will have a great bearing upon
the development of our resources, IS
sweeping over the country.
Jerome A. Crane, advertising mana
ger Of the Riker-Hegeman drug stores,
spoke on Drug Stores-Past and
Present" Drug stores, like every other
store, depended for success on adver-
Using in one form or another, he said.
In its evolution the drug store had be-
come a real public servant, he said, in
asmuch as it was the natural tirst-aid
station in every emergency, and was a
powerful factor in the campaign for
pure drugs and against the drug habit.
Il was announced that vote taken
as 20 the advisability of erecting a
building in New York fer advertising
and kindred interests had resulted in
1873 affirmative votes and 3 negative
votes. Eighty-one promised active CO.
operation in the project. There were
about one hundred present at last
nights dinner. Henry c. Brown pre-
sided. The January dinner will be
"made in L. S. A." function, all the
food and drink being made in the L.
S. A." and the speeches being in favor
Of the movement.
Among those present last night were
Joseph II. Apple, Collin Armstrong,
Thomas A. Barrett, Judge A. II. Gold
smith. A. C. G.. Hammesfshr, John lie
Boutillier, Philip lie Boutillier, Justin
Mccarthy, James 0Flaherty, G. YER
nor Rogers. Colonel A. z. Scott, Rich
ard II. Waldo and John Brisbane
Walker.