The Detroit times. [volume] (Detroit, Mich.) 1903-1920, 1916-09-26


process 81 which the full product OF
our agricultural acreage 10 to De o.
tainsd -
what Ii Is now producing and under
the stimulation and instruction which
nave recently been charaCteiistic OF
agricultural developments think We
can confidently predict that within.
let Ne say. n couple OF decades. the
agricultural production or this eoun-
try will De Something Like double.
But. a. 7 have sad, I have come
20 discuss the general relation OF the
United states 10 the business o. the
world IN the decades Immediately
ahead Of Us We have swuns out IN.
10 new business era In Arneriea
wttk your association who does not
remember the time when the whoIe
Emphasis OF American business as
eussion was lAii upon the domestic
recently IL hss happened. that eYr
attention hAs been extended 10 the
markets OF the world
!, one OF the most Interesting cir
eamstanees Of our business eistery 70
this IKE banking laws or the init
ed states mean the federal bank;
ing lAws-dit no, put TIE naoonai
banks IN . position 20 % foreign et-
change under favorahis eondstion
BANKS and som et!rnes branch banks
drawn out Of other countries ne.A.
bly, out OF Canada were AStAeli shed
a, our chief ports 20 90 what Ameri-
Not until ths present legislation
OF congress known as TIE federal re
serve act. were the federal BANKS
given the proper eeuirmsnt through
which they soHlt = .'s ssr o Han. sasn,
:ry but In any part q THE wcria
where they chose TO set up ersroh
institutions British banks had been
serving srirsh ns-ehsst' AZ ever ever
serving German merchant al ove-
m. world. and no national bank or
the United States had heep seTvins
Americas merchant. Anywhere Ell
cspt "a the United stStes
Not emily when ,Ais war - ovsr, bat
now, America has her place n tpe
world and must take her plaoe IN ne
world OF nnanee and commerce rpon
scale that she never dreamed OF
There was recently created tho
federal trade commission. II has
transformed the government rom Pc
ing an antsgonist OF business 80
Years ago American business men
took up their morning paper with
Some degree OF nervousness 20 see
what the government was doinE 20
them. I ask you q y9a take Up IN.
And then you know We have rust
row done what II WAS common sen.e
20 DO about n. ;srir We have az
.ns other ws were talking theories
and MANAGING policies without suY-
Acient knowledge % the taets UPON
which We were acting and. therf
intended 70 be a non-pa artisan tsric
oorn riission 20 study the conditiers
with which Legislation has % Seal
IN ~. matter 81 the relations OF
American Win foreign business
ya,,- know tAsrs xas- introduced IN
the house 90 representst recent
II the Webs siil 70 stat. I, q. IN.
g9l,cy e the ,, Law OF ,,s tSs e n, !,
laws now existing should be inter
pretei 70 interfere with the proper
sort OF cooperation among export
s II: f s;s re s:'d .df. nDs asie Il:
fluff 81 combinations meant 20 re ex-
elusive. The antitrust laws OF the
United States are intended 20 pre-
United States witch shall De exclp-
s,ve Of new enterprises within the
United States. any combination which
shall set up monopoly IN Anerlca
bat the export business Is q very
big business a very complicated busi--
ness very expensive business. and
n ought 20 BE- possihl. and u viii
be possible and legal FOR men en-
and manage X in groups. 50 they can
manage II al an advantage, instead
Of q, a disadvantsg. a. .1mpsrec
combination but for The purpose Of
cooperation; and there IS a very
wide difference there. for myself
despise monopoly. and I have en-
We must address ourselves I'm
mediately 70 the recreation ot =
great American merchant marine
our present situation IS very Ike
department. store aid not have Co
livery wagons. and depended upon
MS competitors 70 deliver his goods
yop know what would happen. They
would deliver their owr goods 1rst
and they would deliver yours only ~
yours were TO be delivered upon the
routes followed by their wagons
That Is an sxac, picture = vhe' is
Foreign v~ssels carry ogr goods where
they. the foreign vrsssls. happen 20
be going and they -2rry Them only
II they have room = aGi son 20
pie You cannot conduct trade mat
way That ls Conducting trade On
sursrancs Ther~ffr@. we cannot l1se
any time 81 gsff re delivery wagons
max. good our new connections
Our new connections are wien the
great and rich republics 20 'fe south
OF US FOR the arst time In my rer0i-
lection they are beginning - trust
and believe ia Us and want as and
one % my CHIEF concerns has bean 20
see that nothing was done that dit
not show srisndship and good faith
on our part
Ther. - only one thing have ever
been ashamed about IN America, and
that was the timldity and feArfu,uess
81 Americans ia The presence OF for
eign COM etitoTH have dw~lt
among Americans all nay lifs ard I
know from experience that there are
more inventive brains IN America thar
anywhere IN the world, Enterprise.
the Ehrevfness which Americans
have shown. the knowledge Of bust
ness which they have shown-au
thsse things are gotng q make for
I, hat peaceful and honorable conquest
- foreign markets which n our rea-
FOuable ambition.
America has stoo< for that sort OF
political undertaking. among men
which would let everf man feel his
rights were tn. same a. those OF
another and the mission OF America
lr the Hsld Of the woylfs commerce
American comes into that oompeti-
ton be comes without any arms that
would enable him 70 oonauer By
q re bat only with the psosrul
Influence Of intelligence. q dssirs %