Bisbee daily review., 1916-01-09
James J. Hill Believes Ameri- can Industry will be Affect ed Profoundly By Peace.- Refuses to Forecast.
RAILROAD MAN SAYS
 LOANS AID COUNTRY
Darwin P. Kingsley Hopes Result of War will be to Change Systems of Govern ment. Other Forecasts.
JAMES J. HILL.


 ! Ex-chairman Great Northern Railway:
 The present condition of business in the United States is marked by the unusual features that belong naturally to state of upheaval and demorali- zation in the industrial action and trade relations of the principal nations of the world. Prophecy is always dan gerous. and an attempt to forecast events is too often set aside by some unexpected fact; but the present sit uation of the world as to production, commerce, and finance renders any such attempt wholly uncertain. There has been lately a consider able improvement in the business con- ditions of this country Partly and owing to the immense and continued demands of Europe upo nus, not mere ly for food and munitions of war, but for all those commodities whose sup ply they have exhausted and for which they must now look to us, many of our manufacturing industries are flourishing, and comparatively few men are out of employment The fine crops of the year have spread prosper ity throughout the country
 la So far as part of our manufactur- es and large share of our. export business are concerned, present cir cumstances are not normal The sensible thing is to make the most of them without expecting their con tinuance beyond tomorrow or shaping our future policies with reference to an economic situation which can be only temporary. Encouraging aspects of business just now are something like the gifts received from friends at this season-a welcome and appre- ciated addition to comfort or enjoy i ment. which we cannot expect to have repeated daily during the coming year.
 1t is most obvious that our business will be affected profoundly by the con- clusion of peace. Certain lines of de- mand will be discontinued certain 1 others may show an expansion. But no one can draw a chart in which. the particulars shall be noted any more than he can state the events of the next thirty days or six months on the various battlefields There could not be time in which an attempt at def nite prophecy would be so rash and so certain to be contradicted by the event.
 One feature of the situation after the war, however, seems determined with reasonable certainty. There is. apparently. no economic possibility of a flooding of our markets by the pro- ducts of Europe; no dumping" as it Is called. Every country in Europe is utilizing every unit of it's economic forces to supply its daily demand. It has to supplement their products with imports in volume never before dreamed of. It has no surplus of any, thing; nothing to store away and re- lease later on. Economic poverty will be added to the extreme financial strain following the close of the war. Millions of workers have been killed and other millions incapacitated for productive activity While our ex- ports cannot continue in any such volume as at present, it seems certain that European industrial reconstruc- tion will call upon us for assistance for some time to come, and European economic competition be correspond ingly weakened.
 The bankers of this country will probably do in the future what they have done in the past in the matter of extending credit to European na- tions. Their action has not been all for the benefit of the borrowers. but for the interest of the people of the United States. It is largely because of their loans that our crops are be- ing sold and our factories are running today. Our own economic welfare is the test; and that will doubtless be applied, as it should be, to the particu- lar circumstances of any further de- mand that may be made. As to all other speculations on future condi- Continued on Page Two.