The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-05-31
New Enterprise.

There Is a vast difference between
the business conditions which exist
when trade. industry and finance are
engaged In supplying the ordinary
consumptive requirements Of domes-
tic and foreign markets and those
which obtain when what 10 called
new enterprise 10 going forward
briskly on an expanding scale.
When money is going into new en-
terprise II shows that business cour-
age Ia hardy enough to take a chance
with the future in the hope Of profit.
When the stimulus of new enterprise
Is applied to trade and industry we
have a state Of full employment Of
labor because Of the increasing EN-.
ployment Of capital. and the result IN
prosperous activity all around.
Nobody needs to be told that in the
last few years new enterprise has
been waning in the United States and
the consequence has been a progress.
~lve reduction of business toward the
level OF volumes required for the sup
ply Of mere existence needs. Prices
have fallen and profits have dwindled.
and the proportion Of idle labor and
idle business equipment has risen.
What the outbreak Of the wal
last year did to business was to &C
celerate tendencies toward contrac-
ton and depression and accentuate
hard times. What the war has since
done has been to generate an impetus
toward recovery through the opera
ton Of forces which are compelling
a revival Of industrial and financial
activity in the United States. But
there is still something lacking.
Business confidence. which has raj
lied 30 remarkably despite the un-
certainties bred Of the colossal con.
fiict In Europe, 10 still suffering from
the causes Of impaired confidence
which preceded the war. II Judge
GARY Is right In the statement which
he made to the American Iron and
Steel Institute on Friday that "the
captain Of industry ID to DO popular
again in the United States" II II Is
true that U politics Is becoming
humble in the face Of the now need
of the business man. Of business
brains, business courage and business
dollars, 1t should not be long before
the complete restoration Of confidence
Is evidenced by tho development of
new enterprise in every direction.
1t has not been the European war,
nor even the remote chance that our |
country could not maintain entire
neutrality, which has been holding
new enterprise in allegiance. 1t has
been the past impression made on
business minds by political attitudes
expressed in all manner of declara-
OF n governmental intention to
to business, restrict Its op-
portunities, limit its profits, interfere
with its conduct and even menac II
the competition Of Government
engagement In business, a competition
which relies on taxes TO make in.
come and expenditure balance.
There is every probability that
Judge GARY is right and that we
come 10 a new order of things.
It Is inevita BILE that there should be
, change in political attitudes. It Is
4 new world into which the Euro
Dean war Is carrying us. Business
las got to 30 pioneering again. Even
I'D enterprises have had p~erforce TO
AXE the nature Of new enterprises.
In such a situation politicians, who
I've of the product of private In
can help very little and they
AN be n tremendous handicap.
There have been many indications
II recent months that Government
las begun to sense the coming change
TO feel that the time is arriving
o ask the business man what he
wants and to try to give it to him
hat the time has gone by for Gov
'rnment TO take the position toward
he business man that 1t proposes to
ell him what he Is going to get. Signs
re multiplying that politics has be-
to understand that there is no
Aviation for the tribe Of ofiicehold-
rs unless the country gets back to
work., beginning with the real work ,
ngman who has been getting out of
employment because Of government
al a~ntagonism, the man who makes
he work and provides it for the
'orkingman 50 called.
So far as the war goes It is fur
fishing the opportunity for new en-
For proof Of this in one {
ERECTION consult the reports OF the I
an-American conference last week J
Washington. The war Is also
roNidins the means for the prosecu-
Of new enterprise. For proof I
f this consult the foreign exchange I