The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-08-30
EASTERN STATES.

10 w. ~ pTtslueut IutIpT
Mai Chute Company and member OF
the Chamber of Commerce.
ROCHESTER,. n. Y, Aug. 2~S.-Replying
TO your request for an expression OF
opinion on the subject. the present con-
dltion OF general business II obviously
unsatisfactory, and while there APP
pears to be some slight Improvement
here and there II is not reassurlng, be-
cause merely spasmodic.
Bank have more money than they
can proftably employ. because the slow
ing down OF business and a feeling OF
anxiety and disquietude on the part Of
those who would ordinarily he investors
paralyzes investment demand.
. The Fundamental trouble seems to be
an unreasoning antagonism against
public service and private corporations
m against wealth or accumulated cap
ital in any OF Its various manifestations.
Railroads are %strangled and slugged
ana other large business prosecuted
with the same irrelevance and i%rrespon-
sihility that children show In pulling
the legs off a grasshopper.
And organized labor does not seem to
see that in cheering the d~emagogues,
legislative and executive. who pander to
Its unreasonable demands II Is killing
the goose that lays the golden eggs The
Ndl III EsuToIt lS the convenient SCaDe-
goat. but the serious cause In much
nearer home. Labor is not effective
without capital with which II can be
employed. Capital cannot he coerced
either by statute or by organized labor
into unpromising investment. n 80
money piles up In the banks. railroads
go into receivers hands. retail trade
lsnguishes. and men wonder why they
cannot get work.
Never having learned that natural
economic laws cannot be suspended for
the benefit OF labor, any more than the
law OF g~ravitation Is suspended In the
interest or the innocent occupant of a
sea and unstable building. the fool
ishness seems likely to 20 on until COM
mon sense application of the fundamen-
tails OF economics is substituted for
emotional insanity in dealing with bust
ness conditions in the United States.
CHARLES =. HILDRETH. general
manager OF National Machine Tool
Builders Association
WORCESTER. Mass. Aug. 2s.-Reply-
ing to your inquiry relative to my views
ON the business outlook for the next six
months. would say they are very op-
timistic. should the war continue foi
that period or longer. demand for NUM-
tons and supplies must continue as al
present and the money being received
for these commodities continue as a,
present TO stimulate other lines of IN
dustry.
Now whether the war closes or not
money Is rapidly depreciating. or. In
| other words. its purchasing power /:
falling and the prices OF commodities
are pr~oportionately advancing. yet nc
money is destroyed. but Is ever increas'
ing. while that which money exchange:
for is being rapidly lessened in guam
| tity.
The logical consequence OF this dis
: turbance I'm the relation of the quantity
of money TO the quantity OF commodi'
ties is bound to stimulate the produc
| ton OF commodities of all kinds or. ir
4 other words. to stimulate all sorts %
productive enterprises. This means sim
ply that good business is to he thu
, consequence of this war for a period o.
years. barring unforeseen contingencies
. The bumper crops this fall will a:
I always contribute to this. This loglca
! increase should bring such a tax OF
I the railway carrying capacity as e
compel their appearance in the marke
which in the past has always preceded
general prosperity
The demand for machinery abroad
has been so insistent that the absolute
necessities OF the home market hav'
been set aside. These necessary pur
chases alone will constitute a big buy
ing before long. Practically any way
YOU can look at the situation II STOW
the brightest prospects for this countr!
for several years to come.
WILLIAM T.. DOUGLAS. executive
committeeman of Chamber OF Commerce
Of the United States:
MAGNoLIA. Mass. Aug. M-Grea'
prosperity will favor our nation unless
all signs fail. Business is sound excep
I'm the South and a firm national policy
regarding our cotton rights should
largely relieve that situation. Oul
tariff troubles fortunately will remain
side issue during the war and our hom'
industries will be free from severe out
side competition.
The mo important question to solv'
TO insure our continued prosperity a
home and to expand our commercial i'm
portance abroad il the shipping problem
which becomes daily a more serious
menace to the farmer. the cotton grower
the manufactures and the mills makini
all classes of goods. The rates charged
by alien companies are exorbitant, de
lays great and it Is practically impos
sible to secure tonnage for special carg'
requirements.
The Government should abandon III
stupid policy Of proposed ownership an
operation and listen to the advice o
those who know something about ocear
traffic and its necessities. The countr,
will approve OF any expenditure, no mat
ter how large, for relief during the war
and will also indorse ample yearly eN
penditure necessary 10 establish our owl
lines to all important foreign markets.
The export trade should be energeti
ally cultivated by our merchants an'
manufacturers. The Argentine an,
Brazil are showing signs of financial i'm
provement also Peru and Chile, Aus
tralia and South Africa are buying
freely. The East generally and espe
cially China and Japan are placing fat
orders. We should clear up the Mexican
situation promptly before the European
war IL over, and above all we must keel
out OF that miserable AFFAIR.
Events are shaping TO max us tn,
leading world nation, Therefore let al
our citizens help 40 W. may be worth,
the position we will be called on to o.
cupy.