The Richmond Virginian. (Richmond, Va.) 1910-1920, 1916-09-26
President Tells Grain Men u
8. Faces Busine % Era Of I'm
paralleled Opportunity
MUST GET READY
FOR FOREIGN TRADE
Should Now Be Arranging Con-
nections and Delivery Wag-
ons" for Greatest Business
America Has Ever Done

Baltimore. Sept. 25.-President
Wilson told the National Grain Deal
~ Association and an audience OF
esfeo persons here today that America
Gnst take her place in the business
world On q scale never before dreamed
Of. The promoters Of the meeting
announced that $4,000 persons who
could not be accommodated applied
Tor ttekets OF admission.
The speech was not partisan and
savored only in slight degree OF
politics.
a believe in party action, but l
have a supreme contempt for parti-
san action: nothing so seriously in
Aerferes with sincere consid ration OF
pubic questions as political cam
paign." the President said at the out
ct
Busy Heading Oh Trouble.
The applause was generous when
the President said his chief work for
more than a year had been to pre-
vent anything happening which might
interrupt the. improved business re-
lAtions between the United States and
the South American republics. Much
stress was placed on the reports from
the Federal Trade Commission and
the Bureau of Foreign Commerce,
which the President asserted would
be helpful generally to business men,
He declared II was high time America
was getting her own delivery wagons
and claimed that the shipping bill
recently passed by Congress would
provide a basis for substantial mer-
chant marine.
Approximately one-third of the au-
dience was composed of women. Mrs.
Wilson occupied a seat on the stage.
The theatre was decorated with the
national and Maryland colors.
The Presidents speech in part fol-
lows:
What i have come to say TO you
today ! would wish to say in an al
mosphere from which all the vapors
OF passion have been cleared away,
for ! want to speak to you about the
business situation of the world so
far - America is concerned.
The agricultural acreage of this
country ought TO produce twice what
Il n now producing. Under the
stimulation and instruction which
have recently boen Characteristic OF
AGRICULTURAL development l think we
can confidently predict that within.
Let VI say. q couple OF decades, IT will
be something like double. whereas.
there IL no likelihood that the popu-
S80Vo VI k4lA1 SouhtEy Will bG hooVtcd
within the some period.
But have come to discuss the
general relation OF the United States
70 the business world In the decades
Immediately ahead of us.
In New Business Fra,
We have swung out, my fellow
citizens. into q new business era in
America
Il need not remind you how re-
Gently 1t has happened that our at
<sntion has been extended to the mar
ksts Of the world.
ut happened that American pro-
auction, not only in the agricultural
aeld and In mining and in all the
natural products of the earth. but also
IN manufacture, has increased In re-
eent years to such volume that Amer
team business burst its jacket. II
could not longer be taken care OF
within the neld OF the domestic mar
kets. and when that began TO dis
close itself AZ the situation, w also
became aware that American bust
Aets; that they did not know the
ooRmeroe Of the world. and that they
11a not have the ships In which Ia
tA1e their proportionAte part In the
carrying trade of the world: that our
merchant marine had sunk 10 . negli-
nihao amount and that Il had sunk
10 it, lowest at the very time when
the tide Of our exports began to STOW
h most formidable volume.
One Of the most interesting cir
oumstAn0os Of our business history ID
this: The banking laws OF the United
States. mean Federal laws. did not
nut the national banks in q position to
do foreign exchange under favorable
conditions. and 1t was actually true
Z that private banks and sometimes
branch banks drawn out of other
countries. notably out OF Canada. were
established at our chief ports to dc
what American bankers ought to have
done.
"Only in very recent years have we
been studying the problem of pro-
viding ourselves with the proper in
strumentalities. Not only the recent
legislation Of Congress known as the
Federal reserve act, were the Federal
banks Of this country given the proper
equipment through which they could
assist American commerce, not only
III our country. but In any part Of the
world where they chose to set up
branch Institutions.
The scene has been changed by the
events Of the last two years. almost
suddenly. and with Q completeness
that almost daunts the planning mind
Huoineso on Greater Scale.
Not only when this war IL over
hut now America has her place In
fContir rec on Second PagAl