The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1916-09-29
Ally STATE JoURNAL-FRDAY EVENING sFPTFNPFR 29 1916

bankers, business men and railroad
men at an informal dinner.
II short talk after the dinner Mr..
Trumbell was optimistic as to the re-
suits of the wage controversy. He said
the dispute had attracted the public
eye to the railroads and their prob
lens with the result that the public
has a clearer understanding of the
questions of the day and has more
friendly attitude toward the roads.
Unlimited Territory.
Z. L. Copeland introduced as toast
master C. S. Gleed, an old-time
friend of Mr.. Vanderlip and Mr..
Mr. vanderlip made the principal
address which held the careful atten-
ton and admiration of all present He
asserted the United States has an un-
limited territory for trade extension
in South America and Russia
The financier warned that Amerl-
cans must prepare for competltloh
with financial Europe after the war;
away from London, he believes, is go
ing to be no easy task
London has not only the money
and men trained to handle invest.
ments but England has nation q
people educated to invest he said.
The task of America, he asserted, IS
to educate it's people to invest, from
the man who controls millions to the
man who controls dollar.
In South America.
Snealxing of South American trade,
Mr. Vanderlip believes the United states
has already made a stride IN trace
extension there. He believed one N
the brightest fields for young Amer
cans is South American, Russian anu
Oriental trade extension
He asserted. in his adaresS 70 W.
bankers Thursday night. that the
United States is experiencing the
greatest prosperity in history because
of the European war he peheNes
prosperity will continue after the war
unless some nation taxes away our
excess gold. That. he fears.
Greater efficiency in manufactur-
ing lines was urged. He pointed out
that it is necessary in order to com
pete with Europe. Women he said
"have proven themselves more effi-
cient in munition factories than men
in Europe. Having proven their eff
ficieney. they will continue in indus
trial lines after the war"
Mr. Vanderlip said the predicted fl
nancial calamity to the United States
deceived financiers of the country and
that prosperity followed what at the
outset appeared to be forthcoming
doom. He cited the closing of the
New York clearing house at the open
ing of the war. referred to its early
re-opening and the most remarkable
financial growth of the United, States
after the war got under way. Here
tofore, the figures have been in the
millions; now. he says, they are stag
gering-into the billions.
"One dollar in gold reserve means
five dollars in credit. Our credit ex-
tensions have thus been mounting
five to one While it is difficult to
prophesy what may happen after the
war is over. 1t must be evident that,
If our gold reserves are withdrawn to
foreign countries. our line of credits
would be taken down just as they
were built up, five to one. There are
several things which will offset or
check gold Withdrawals.
"Our first-line of trenches will be
the return Of foreign securities. At
the opening of the war. the foreign
securities held in this country were
0.00O.000; now they are in the
neighborhood of $1,100. 100000.
"Our great defense, however, will
be to increase our exports. We will
not find, so large as predicted, debili-
tated factories, for in England alone
a million women have taken the places
of the men who went to the front and
are doing more efficient work than
the men did.
THE National City Bank is endeav-
oring to help the United States to be-
come a worthy factor in world bank
ing, for more than ever will the
United States now assume the position
of a world banker. We find that
what we lack most is men equipped
for banking in the large cities of the
foreign world, for We must have
Americans there and We must train
them, not alone in banking but in the
language and customs of the coun-
tries where they will take up their
work and their living. The National
City Bank has this summer taken
sixty college graduates whom we are
putting thru a training in banking
and language. In three years we
hope to have them equipped so that
many of them will be able to take
dominant positions in the branches
Genoa, in Montevideo. in Buenos Aires,
! in Rio Janeiro and in the Indies"
Mr.. Vanderlip said American finan-
cial circles see no end to the war in
sight. He asserted the end would not
be brought about by bankruptcy of
nations
Trip Thru Kansas.
The Vanderbilt TrumbelI train ar
rived in Manhattan at $50 o'clock this
morning. The remainder of the days
schedule:
Junction City, 10 o'clock.
/ Abilene, IL o'clock.
Salina, 2 o'clock.
Ellsworth. 2 o'clock.
Hays City. 4 o'clock.
Ellis, $50 o'clock
A stop of approximately forty-five
minutes was scheduled at all the