Evening star., 1916-01-06

country's industry. In part, the state
ment says:
TT will be admitted by all 1nanufac-
turers of these products that there Is
no reason for complaint at the pres
ent time as to the volume or urgency
of the demand, nor, in most cases, tne
prices received, notwithstanding tne
costs of production have been larger
during the last five years becauses OF
increases in wages, freight charges
etc.
Production Rate in q.
'The rate of production at present in
the United states is about 3s.OO0,ooo
tons Of pig iron and about 41,0G0.o0o
tons of steel ingots per annum. This
Is compared with a rate OF 1S,ooo'ooo
tons of pig iron and 100000 tons OF
steel ingots one year ago. ana 35.5oo'-
| 900 tons of pig iron and 35.000,000 tons
| of steel ingots at high-water marx IN
the year 1918 for pig iron ana lslz 1or
| ingots.
"Prices could easily be materially ad,
vanced and perhaps will be. although l
believe as to some Of the commodities,
at least, they are high enough; 1t is
| the reason that the requirements OF
purchasers, and the offers they make,
| fix the prices to a large extent.
apparently. about IS per cent OF the
sales is for domestic consumption and
the balance for foreign use. directly or
| Indirectly. The influence OF the ex-
port sales upon domestic sales l do not
undertake to say.
"Conditions pertaining to this indus
try reflect more or less those OF other
lines and perhaps are an indication OF
the general situation. Certainly there
are evidences which cannot reasonably
be questioned Of great prosperity. 1t
is not my purpose to discuss the rea-
sons for these satisfactory conditions.
They exist; and it now seems probable
that they may continue for three
months to come.
Draws an Analogy.
''when there is possible danger ahead.
the locomotive engineer Is directed by
his rules, formal instructions and
signs, to proceed with caution; and
sometimes to stop, look and listen. We
may draw an analogy. I would offer
words of caution. We are proceeding
at a rapid pace. There is great expan-
sion at present. ! fear there is great
imitation. Some of the circumstances
trial world are peculiar and not justi-
fed. There will be jars and jolts when
eyes are opened and things become
normal.
We shall be all the better for 1t. Legiti-
mate enterprises will be benefited II
we read all the signs. consider the past
and reflect upon the future.
with any feeling Of certainty? It may
be very dark and desperate. 1t will
be thus in Europe. and We in America
will feel the effects to greater or
lions upon billions OF property in any
country must necessarily affect, in
some degree, all other countries. Eco
nomic conditions in the United States
future, with the usual Interruptions,
II we are fully alive to our opportuni-
ties.
Probable Duration Of War.
II believe the war of Europe will not
be SO long protracted as many, II not
the most Of men, predict. This opinion
is based principally upon two grounds:
In the first place, 1t seems apparent
that little. II any. benefit to any bel
ligerent country or to the world at
large can result from the war, except
and unless 1t be the firm establishment
of an international tribunal for the
settlement Of international differences;
one that Is universal and practical, and
whose DEGREES are enforceable; one that
will prevent the prolongation of wars
in the future. This can be created. If
| so, negotiations for peace and such re-
suits should be opened at once and
pushed +. to h.tfer fenctns,on tme ihere VIII
"If one side or the other should alb
| solutely conquer the other side (Which
| seems impossible unless the war Is
carried to an extent ,,a,..; tnas you'd you leave
| generation OF all OF the nations help
| less and hopeless) there would be no
| need nor disposition for an interna-
| tional tribunal. The leaders Of all the
/ az
! these facts and are likely to act upon
| them soon.
"Starving for Men and Money"
| "The other ground for my belief is
| that each Of the warning nations is
| starving for men and money. both.
| They do not admit It. but the signs are
plenty and convincing. Any nation
that is prolonging the war beyond the
\ time when 1t can be reasonably and
honorably discontinued is slowly but
surely committing suicide.
But, whenever the war shall close,
| the business Of the country will be con-
| fronted with new conditions. The pur-
| chasing power of the whole world will
| have been very greatly reduced. For
| eign countries who are now buying our
products, because compelled. will with
draw their patronage in a leading
| measure Other non producing coun-
tries will md their financial resources
and credits lessened. More than this,
| foreign producers in great need will
strive more diligently than ever to
| supply the countries who are hnan-
| ciaIly able to pay at prices based
| upon cheap labor and low cost, as they
| have a perfect right to do.
| "Our producers, including our wage
earners, will find themselves in COM
lmercial antagonism with the most per-
sistent and difficult competition ever
| experienced. unless they shall be pre-
| vented by laws that are reasonable and
| sufiicient. This Is not a question of
politics, nor for political parties as
such. It is one of economics and of
good business and 1t affects all the
| people. It Is question Of the great
| est good to tho greatest number. There
| should be an effort to ascertain and es-
tablish . line Of Justice and fairness
between the producer and the con-
| sumer.
L