Ottumwa tri-weekly courier. [volume] (Ottumwa, Iowa) 1903-1916, 1916-05-18
WILSON SUGGESTS
COOPERATION FOR
AIDING BUSINESS
WOULD HUNT OUT "UNHEALTHY'
INDUSTRIES AND HELP FIND
THE CURE.

COuulSSIOu duu DuSAAOcS III iAc SAAo
commercial organizations with the OBJ
ject of standardizing trade Is recon-
mended by President Wilson In a let
ter to Edward N. Hurley, vice chair
man Of the commission, made public
today at the white house. The presi
dent urges that the commission In
vestigate industries, and, If 1t finds
any not "healthy," 1t suggest "a prac
tical and helpful remedy"
The president wrote to Mr.. Hurley
to commend him for suggestions made
in recent speech at Boston in which
Mr.. Hurley told of efforts being made
by the commission to assist the small
manufacturer and merchant in better.
ing his condition by helping him i'm.
prove his cost accounting and book.
keeping methods.
Should Know Costs.
"This is step In the right direc-
ton and one OF the main fundamen-
tails of any successful business" said
the president. 1T is most important
to the future success Of business
man that he should know what his
goods actually cost to manufacture
and to sell. If he has these facts, they
will enable him to present modern
balance sheet to his bank and as a
result he will be better able to obtain
credit with which to expand and de-
velop his business.
"Your suggestion that trade assoct
ations, associations of retail and
wholesale merchants, commercial
clubs, boards of trade. manufacturers
associations, credit associations and
other similar organizations should be
encouraged in every feasible way by
the government, seems to me very
wise one. To furnish them with data
and comprehensive information In or
der that they more easily accomplish
the result that they are organized for
is a proper and useful government
function. These associations, when
organized for the purpose OF improv
ing conditions in their particular In
dustry, such as unifying cost account.
Ing and bookkeeping methods; stan
dardizing products and processes OF
manufacture, should meet with tho ap.
proval Of every man interested In the
business progress Of the country.
standardIze Trade.
"Too much emphasis can not be
placed on your suggestion that materi-
ais methods and products in industry
should be standardized upon the basis
OF specifications drawn up in friendly
cooperation with engineering soci-
eties, Industrial experts and trade as
sociations. Further standardization
in our industries will not only reduce
the cost of production but assure the
producer better materials and more
eff ficient workmanship and to the con-
Stunning public the manifest benefit re-
sulting from not having to pay for a
wide and increasing variety Of prod
ucts and materials. Judicious stan.
dardization also means a greater re.
turn on a given investment. Capital
now tied up because Of inefi1cient
methods will be released and can be
used effectively elsewhere.
Must Be Thorough.
"If we are to be an important factor
In worlds market, we must be more
thorough and eff1cient In production.
The encouragement of trade associa-
tions and standardization and the in
stalling OF better cost accounting
methods in our business concerns will
go q long way toward accomplishing
this end.
''It is my hope that, in addition to
the other work which the federal trade
is doing it will ascertain
the facts regarding conditions in our
various Industries. II 1t finds that an
is not healthy, 1t should.
after carefully considering the facts,
in cooperation with the parties inter.
ssted, suggest a practical and helpful
In this way many Of our diff
icult business problems might be
solved.
II am very anxious to see you con-
,inue to cooperate with, the business
men OF the country along the lines up.
IN which you are working"
U. 8. TRADE EXPANDING.
New York, May 17.-Despairing OF
obtaining adequate tonnage to ship
heir exports and to bring to them in
,eturn needed manufactured articles
rom the United States, numerous big
shippers Of Central and South Ameri-
"a now are buying in this country
with which they may turn
heir raw products into manufactured
articles for their own trade, accord
ng to Robert Lee Dunn, secretary OF
he All-America association, Pan.
American trade organization with
headquarters here.
1--WE are finding more than ever"
said Mr.. Dunn, "that the people OF
Central America want to do their for.
,ign business here and we also find
hey are learning that 1t pays to elm.
nate the middle man from their
and deal direct with the
producer. They are also willing to
.rade on a cash basis. Through this
we have handled since
January / almost $500,00O in gold
coin, deposited here to draw against
n their transactions. In addition to
this gold, South American buyers
nave brought to the United States mil
ions in negotiable paper