Tulsa daily world. [volume] (Tulsa, Indian Territory [Okla.]) 1905-1919, 1915-02-09
Confidence in Restoration
Of Improved Times Es-
scntial, Says Farrell,
PREDICTS UNUSUAL
FARM VALUES 1915
American Dollars VIII Be
Spent in America This
Summer, He Declares.

l. and cooperation in business and
confidence I'm Il restoration Of pros
perity was the advice expressed by
James A. Farrell, president of the
United States Steel Corporation, In an
address before the Engineers Society
of Western Pennsylvania here tonight.
Among reasons for encouragement.
Mr.. Farrell quoted eminent Euro
pean and Americans AS authority,
as calculating that the United States
excess Of exports over imports in
1915 may easily reach one billion dol
lars; and he declared that the bal
ance Of trade In favor Of the United
states for the opening month OF the
year Is at the rate Of s. 500, 900, 900 u
year.
"The years OF greatest prosperity
In the United States have been when
tho balances were largely in our ia
vor," asserted Mr.. Farrell. ut Is not
imprudent to predict that out total
farm values for the current year, for
the first time in the annals OF this or
any other country Will pass the
so, 0,O00,0 100000 mark.
VIII OfcHlc Employment.
Il feel safe in saying that II we
will strain point just now and trade
q little more with each other and
talk encouraging as to conditions
rather than pessimistically the busl-
ness Of the country will take on
momentum which will carry us into
better times, and what Is more inn
portant, create more employment for
labor. Our best efforts should be
put forth to stimulate activity In busi-
ness and do everything practicable
to increase the number of working
peoule, not only I'm the industries OF
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 I'm operatlonsi more
men are obtaining employment and
tho trade movement Is progressing
and encouraging. and we should do
everything practicable to sustain and
advance It,"
Mr. Farrell said that up to within
few weeks 'it seemed as If the
prospects of a material Improvement
in business were doubtful, but ap-
parently the tide has turned and each
day records a marked Improvement In
the general situation.
Urges Cooperation.
1T seems to me-" he continued,
that the time has come when CO.
operation should NANTES itself
among business men to bring about
conditions which will result In a
larger employment Of labor.
"As business men let us give our
attention 10 solving Industrial unrest
by creating work, by toiling and spin
ming and creating a normal circula
tiOn I'm the arties Of commerce. In
my Judgment campaign for the con-
structive upbuilding OF tho business
OF our country on scale commensur-
ate with modern needs and opportun-
tiles should be inaugurated. our
problems are national, our opportun-
tiles are NATIONAL let US hear more
OF national common sense and see II
we cannot get back to work. Public
sentiment and governmental lnclina-
ton unmistakably favor llve-and-
lct-live attitude toward business
whatever may be the political out
come OF the European war IL IL OF
vital consequence TO Americas future
position that advantage be taken OF
the present opportunity 10 exploit the
products OF American inyestiOn. en-
terprise and quality 10 establish q
firm foothold In foreign markets"
Trade Balance Grows.
There is a strong sentiment. Mr..
Farrell said, for co ordinated effort
In trade activity. Confidence in the
business future OF the country, he de-
clared, Is growing and a balance Of
trade Ia piling up that Will place the
business OF the country on firm fOun-
datiOns.
I'VE are the only nation at the
present time I'm a position 20 assume
the role OF the worlds banker" he
said. american dollars Will be spent
I'm America this summer as never be
fore. The outlook for raising New
York to first place among the finan
clal centers Of the world IL declared
by able bankers TO be something sub
stantially more tangible than dream.
Money Is plentiful and low rates OBJ
tain. Cotton has recovered IN price
from ia cents in October % fully
8 IL cents per pound today ship
ments 70 date exceed four million
bales, or tw0-thirds OF the CORE
spending total Of a year ago.
The United states Is today tho
chief granary Of Europe. The prices
received should insure for our farm
ing population an unprecedented
measure OF prosperity and II has come
10 be an American axiom that when