The Sentinel=record., 1915-02-09
BALANCE OF TRADE IS BIG
Predicts That the Exports Over Inn ports Will Reach Ten Billion Dol lars During This Year Which Has Never Been Equaled.

IitJSDufg Feb. S.-COurage and CO., operation in business and confidence in a restoration of prosperity Was the advice expressed by James A. Farrell. president of the United States Steel Corporation. in an address before the Engineers Society of Western Penl- sylyania here tonight.
 Among the reasons for encourage ment, Mir. Farrell quoted eminent Europeans and Americans as author ity, as calculating that the United States excess of exports over im- ports in 1915 may easily reach one billion dollars, and he declared that the balance of trade in favor of the United States for the opening month Of the year is at the rate of $l.50O.. 100000 a year.
 The years of greatest prosperity in the United States have been when the balances were largely in our favor" asserted Mr Farrell Tt is not imprudent to predict that our total farm values for the current year for the first time in the annals of this or any other country. will pass the $1o.O00. GOO 000 mark.
 T feel safe in saying that if we will strain a point just now and trade 8 little more with each other and talk encouragingly as to conditions rather than pessimisticaMy the business of the country will take on a momentum which will carry us into better times, and, what is more important. create more employment for labor Our best efforts should be put forth to stimulate activity in business and do everything practicable to increase the number of working people not only ia the industries in this community but throughout the whole country
 "The elements of prosperity are at hand the developments from day to day are favorable The steel trade has been called the barometer of business; there is a marked increase in orders and in operations; more men are obtaining employment and the trade movement is progressing and encouraging and we should do everything to sustain and advance it."
 Mir Farrell said that up to within a few weeks "it seemed as if the pros poets of a material improvement in business were doubtful, but apparent ly the tide has turned and each day records a marked improvement in the general situation.
 Tt seems to me he continued, that the time has come when co-oN- eration should manifest itself among business men to bring about cond, tions which will result in larger employment of lahc~
 "As business men let us give our attention to solving industrial unrest by creating work by toiling and spinning and creating a normal cir culation in the arteries of commerce. In my judgment campaign for the constructive upbuilding of the busi ness of our country on a scale com mensurate with modern needs and opportunities should be inaugur9ted. Our problems are national, our oppor- tnnities are national, let us hear more of national common sense and see 1T we cannot get back to work. Public sentiment and governmental inciina tion unmistakably favor a live-ana let live attitude toward business.
 'Whatever may he the political out come of the European war it is Of vital consequence to America's future position that advantage be taken oi the present opportunity to exploit .the products of American invention, enterprise and quality to establish firm foothold in foreign markets.
 There is a strong sentiment. MT Farrell said. for co-ordinated effort In trade activities Confidence in the business future of the country, he de clared. is growing and balance of trade is piing up that will place the business of the country on a firm foundation.
 We are the only nation at the present time in a position to assume the role of the worlds banker me said. American dollars will be spent in America this summer as never be- fore. The outlook for raising New York to first place among the tnan- cial centers of the world is declared by able bankers to be something sub stantially more tangible than a