Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1916-09-23
business Needs Nilsson.

country bound less prosperity is fic
titious as we'll rs adventurous persons who
know more about the country's business do
not agree with this dictum. The 100 per
cent candidate is contradicted fatty on this
Issue by the 100 per cent merchant and man
uiaCturer
After the war, according to james A. Far
rel president OF the United States Steel Cor
poraiion, American trade will surpass all
records. and the country have the greatest
gold accumulation ever possessed by a single
nation Here is his further diagnosis of
tho post bCllum situation:
Tho United States Will be both the
itiEeSt customer and the most formi-
rostion. II safetuarded by a sagacious
n"I IN %n ,S, o NE total foreign trade
one-twclnh Of that OF tho world. aud
since both exports and imports serve the
interest OF our International neighbors
and ourselves. it would seem that some
method should he devised OF arriving At
I, friendZ 2djus'men, Of commercial re-
elimination, possibly leading to trad
wars
These views Of Mr.. Farrell were included
in a statement Of business conditions made bv
him as chairman OF the National Foreign
Trade Council at meeting Of the council
held ON Thursday in New York Economic
alliances negotiated among themselves by the
two groups OF warning powers, he said in
volved n system OF mutual trade prefer
enceS which may automatically create dis
ordinations against neutras." 1t is this
countrys duty, ne declared, TO prepare 10
meet thai situation
How this duty should be performed was
indicated in the report OF the councils com
nitiee on foreign trade. submitted by Willard
u raj Cht. The report finds there is a
necessity Tor greater elasticity than now
obtains In the American tariff system re
Eard.esS Of whether the tariff is maintained
Tor protection or for revenue" and that the
tribute this end
OF course it Will. The vigor with which
President Wilson supported the Tariff Com
mission WAS based his recognition OF the
very facts stressed by Mr.. Farrell and Mr.
straight. The rctaliatory legislation passed
by Congress enabling the President to deal
with determinations against our foreign
trade, Will be supplemented in due time by
other legislation, enabling the executive
within defined limits, to return favor for
favor To the wise solution of all such
problems a Tariff Commission is necessary
The essential circumstance, however. is
recognition by conspicuous men OF business
OF tho sound basis and enduring quality OF
tho national prosperity. Not only Mr. Far
rel and Mr.. Straight, but business men
everywhere diagnose the situation In tho
same way.
After tho war, as Mr. Farrell says. "wc
shall have a powerful position if safcguardcd
by sagacious policy" That is exactly the
sort OF policy We have had for the last four
years, since Woodrow Wilson became prcsi-
dent. It has brought wealth. contcntmcnt
and economic and political wcl-bcing to the
American people. To put the country's dcs-
TIMES into untricd hands TO substitute Il
foreign policy which has never been cx-
planned and can only he surmiscd for a for
cien policy certain and definite the bcnciiccnt
Influences oi which AL soc and understand