The Farmington times. (Farmington, St. Francois County, Mo.) 1905-1926, 1916-01-14
REDFIELD WARNS
OF WAR INITIATION
Report to President, However. Declares
U. S. in Most Prosperous State
In Its History

Washington, d. c., Jan. 7.--Secre
tary Redfield in a memorandum OF
business conditions transmitted t.
President Wilson today, pictures the
country as in the most prosperou;
state of its history. The warning is
added, though, that wars initiation Of
commerce will last only until wars
end and that business foresight alone
will prepare the United States fo1
peace.
The slump that will follow the wal
abroad, the Secretary's summary de-
clares, must find Americans ready to
take their share of the worlds trade
unhampered by provincial notions
False values created by unusual con-
ditions, he fears, may lull the United
States into fancied commercial Sc
curity.
Present Movement Abnormal
at is not to be expected" the Sec
rotary says, "that our business move
ment will continue in its present form,
No one dreams that we can now nor
in the future maintain an export move
ment of more than five billions actual
value, or that we may sanely expect
an apparent net balance in our favor
on merchandise transactions of three
billions in any one year.
at is alike impossible and undesir-
able that these things continue. 1t is
impossible for no other reason than
because the world has not the power
to pay to any one nation such vast
sums for any long period in addition
to the waste of war. The nations are
not spending their incomes in our
markets, but their capital, and vast as
it is, there are limits to which the
continuance of the process is undesir-
able, for it would make us the Midas
among the nations and produce NOR
al overstrain that would be danger
Gus.
Danger in Giants Strength
ave should be subjected through
having such giants strength to the
temptation to use it like giant. Ev-
cry evil that excessive power brings
to men would threaten u.s."
Opportunities for a normal pros
perity after the war are outlined, the
Secretary pointing out that the Unit
ed States has jumped to first place
among the nations in international
trade.
whether we shall remain the first"
the memorandum continues, depends
upon the vision and energy of our
bankers, manufacturers, merchants
and farmers. We have for the first
time in our history a sound system of
finance. In this one respect our pre-
paredness is complete. Our finances
can be modified on demand to meet
the needs of trade. Enterprise and in
vestment may move with a gertrude
never before known as regards our
financial system. We hold the great
est gold reserve of history.
Both financial power and effec-
tive means of using that power are in
our possession. Together they may
form basis of commercial and finan-
cial opportunity"
Nations Prosperity General
Prosperity has grown general and
no particular class is benefitting at
the expense of others, the Secretary
declares. Opportunity being open to
the railroads to take up long defer
red development work, will give work
10 thousands, he continues, and by its
indirect effects twill keep many a
factory busy"
students of the railway problem
know that in the past hard days much
needed work has been left undone,
and the vast expenditures are needed
soon to keep our railroads abreast of
the national needs" the Secretary
writes.
1.-THE earnings now exist for these
and the financial sys-
tenn is available to carry them out.
"The economies forced upon rail-
ways, industrial corporations and IN
lividuals in recent years are a potent
factor in maintaining prosperity. Our
business is being better done, less