The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-05-29


the board OF directors OF the United
States Steel Corporation. In al address
as president at the annual meeting OF
the American Iron and Steel Institute
,esterday at the Waldorf Astoria, pre-
dicted a world race of aggressive COM
merciai competition By the nations made
daring and fearless by the war.
In this race the United States will
hold supremacy or a minor position,
he said. according as We conduct our
affairs now. Much depends Immediately
upon cooperation OF the Government
and the business nan In this connec-
ton. he said. he begins to see the
sunlight OF better things and better
Conditions. lie spoke more optimisti-
caily OF domestic business conditions
In more than a year.
The captain OF industry Is again
becoming popular In the United States"
Re sad
A great navy. ''one equal. at least. In
ever: respect TO that OF n other
nation" Judge Gary continued. is i'm
perative. W. must not remain In a
position which permits the navy OF any
other Individual country to dominate
the seas"
Cnprcparrd for War.
Though this country should be pre-
pared to protec, itself In tho future.
when the olive branch IL smitten from
-,,s 80, III. -.tttA,,t "a, Ar nrnNnnnftnn
by a hostile Power hat seeks 10 destroy
U.S." Judge Gary shove that we are
wholly unprepared for war now. OF
the position OF the country In the pres
ent international crisis he said.
TT Is u~nthinkable that we should be-
come involved In war with any OF the
foreign countries at this time. We have
nc inclination. nor have we the ability,
to engage in war. Some OF tho bell'ger-
ent nations are now suffering because
they we're not prepared at the beginning
OF hostilities. perhaps because war was
not expected. but even 80 they prob
ably did not Immediately after war was
declared use the diligence required to
supply their necessities as they now
appear.
we may learn BY their misfortunes
But war hou be the last resort.
When the present combat shall have
ceased we must pe on a lrlenulN root
Ing with all the nations.
In the last analysis. tho conclusion
will be reached by the vast majorities
that the best interests OF the peoples OF
all nations will be promoted II the
present international equilibrium is sub
stau;ially preserved. The destruction OF
any nation would he detrimental to the
interests of all others"
Business Conditions.
or business conditions in this country
he said
at seems 10 me at the moment the
outlook for Improvement in our lines ~
activity are better than they nave been
for more than a year. This IL urdoubt-
eddy In part the result OF increased cx.
portations at fair prices. due to the
European wars. but In ny opinion. also
because OF a mango In sentiment
toward business. which TOW seems az
parent.
THE clouds OF distress. suspicion and
hostility are breaking. During the last
three years | have not been especially
encouraged as TO the immediate future,
but AS to the long future | ave been a
consistent optimist.
There has been an admon!t!on against
rocking the boat and we approve tho
sentiment. but we submit the business
mon have not been rocking the boat. 1'he
lack OF continuous business prosperity
and success In this country for "A numpe.
OF years has beer In part the direct re-
suit of undue, i'll considered or unjus;i-
fable assaults made by Governn eata,
agencies or by erroneous and unN,se
policies OF departments of Government"
Judge Gary spoke OF the position OF
the world after the war as follows:
The people. as distin guished from the
rulers. Will have a voice in bringing the
war to a close and in the settlements
which are to he made. The doctrine ~
the divine right OF kings will be only a
recollection. II Ia a 200 guess that
many kings and Kingdoms will be occu-
plying space on the transition slide.
After all differences are adjusted
We shall see the most active and per-
sistent efforts to rebuild and extend and
10 succeed In the international race for
supremacy that the world has ever wit
messed. From adversely will com
greater prosperity than ever before.
What to Prepare For.
Tt u not too much TO believe tina
after the close OF the war there will
be a feeling almost universal that there
must be established and maintained a
court OF arbitration-simple comprehen-
s've. effective n pe~rmanent-that will
sccure the adjustment OF all future diff
ferences without any protracted or gen.
eral contest by armed forces.
Now. what should the United States
prepare for' I made the statement long
before the wal that we might become
the leading nation in finance.
and industry. ! do not think we are
thus permanently established, but II
seems certain that we may reach this
position II we properly conserve our
resources. We may hold either a pri-
mary or n secondary place. dependlne
upon the wisdom. energy and discretion
OF our people. Much depends upon our
management Of affairs. There has never
in the history OF tho world been so great
a necessity for wise and disinterested
craftsmanship or for loyal II honor
able conduct on the part of the practical
business men as at present.
TT IL not active competition We fear
in tho commercial development following
the war. provided we are properly pro-
tected by our Government. All we need
and all we ask is an open field and a
fair chance. on an equal basis, to COM