South Bend news-times. (South Bend, Ind.) 1913-1938, 1915-11-11
PACKER PREDICTS
LONG PROSPERITY
Fear of Aftermath of War is
BaSeIeSS, Says J. Ogden
Armour.

CHICAGO, Nov. IL America is
rapidly rising to an unprecedented
prosperity; a prosperity which would
have been inconceivaOle a year ago,
and which will be enduring. 1t will
De boom-lke, say for three years, and
should not be affected by a termina-
ton of the European war within that
time"
This is according to ]. ogden Ar
mour, millionaire packer in an ex-
elusive interview given out Wednes-
day.
For captain of industry whose ret
icence, restraint and conservatism are
proverbial, the above declaration is
both interesting and instructive.
THE idea that the cessation of
European hostilities must affect us ad-
versely is, 1 believe. academic" he
said. I'm the first place, the emigra-
viii be prohibited. They will be fore
ed to take this step because the con-
flict means an exhaustion Of men as
we'll as of treasure. Men will be need
ed over there as much, if not more,
than money. There can be no COM
petition between a country of Amer
ica's great vigor and infinite resources
and countries that have spent them
selves.
Must Lead World.
America was destined to lead the
world commercially and financially in
10 years. The war simply fastened
that manifest destiny. For an Amer
lean to fear the aftermath of the war
appears to me baseless.'
The president of Armour & Co. then
proceeded to give reasons for his I'M
shakable optimism.
ours is not a war prosperity, al
though, to be sure, ammunition orders
are accelerating the pace. 1t is funda-
mental that the products of the farm
are the basis Of it. We are still large
ly an agricultural community and as
agriculture prospers the whole coun-
try prospers.
Look at our crops and the prices
ne are getting for them. Both have
no parallel in the country's annals.
THE demand for these necessaries
is in proportion to their supply Eur
Ope is buying as she never bought be-
fore, and the swelling of bank de-
posits reflect the heavy European pay
ments as we'll as the affluence OF the
farmer
Take for instance the National City
bank Of New York (of which Mr.. Ar
mour is a directory, a year ago the
gross deposits of that institution were
$245, 900, 600. Today they are over
5000, 600, 600 Bankers as a rule have
{ been hard put by these startling in
creases. Rates are low but the money
will all be profitably employed. 1t is
only a question of time; and the en-
ployment of so much money will mean
just so much more prosperity.
South Prosperous.
The south, which only a few
months ago was in despair. is now
drunk with prosperity Planters are
finding no difficulty in marketing their
cotton at good prices. That section
of the country, too, is fortunate in en-
Joying a revival in the lumber trade.
II have no doubt that the Pacific
coast, whose trade has been tagging.
will soon thrive. In fact, every lead
ing industry is fourishing or is be-
ginning TO flourish.
Building permits throughout the
country are at a high mark. So with
what might be called the luxuries or
semi-luXuries lines, such as jewelry
and furniture.
Then" continued Mr. Armour.
there are the railway revenues. These
are infallible indicators of trade tend
encies. Earnings are increasing by
leaps and bounds. / know Of west
ern roads that could use double the
cars they have at their disposal at
present.
In brief-we, the United States.
are-IT-with a capital I, and shall
continue TO be in that enviable posi-
i finn indp6nifalxr