Arizona republican., 1916-12-17
Ilii PROBLEMS DUE TO ARISE
 AF TER THE WAR
Republican A. p. Leased wIrel

CHICAGO, Dec 16.-Frank A. Van derlip, president of the National City bank of New York, addressing the Chicago Bankers club tonight. warned his auditors that the United States would have to meet economic anu social problems as result of the war that would tax the ingenuity and resourcefulness or the nation, anc called upon bankers to prepare tc aid in the solution of these problems
 The belief that the United States could proceed along its way upaf fected by the war and seeking only e keep out of IL, he declared, seemed not only lack of imagination. but poorness of vision, and a complete failure to understand the unity of the industrial commercial and finan- cial world.
 Unless l utterly misjudge affairs
 he said. there are going to develop for this country problems of tht gravest importance-proSlems tha will need fer their correct solution the attention of the most enlightened minds.
 State socialism In Europe may de- velop problems the like of whict never concerned our minds We ma have 10 meet collective buying. state aided industries. forms of govern mental cooperation with business quite outside our range Of though. Governmental control of ocean -borne commerce and novel factors in in- ternational finance wodld be subject- for national consideration. Thers may come out of the war changes in forms of government that will have profound and worldwide influence.
 Mir Nanderlip reviewed the result of the war in the United States ut to the present. the increase in gold supplies. the developments Of credits. He discussed national lcgislatior with federal reserve net and the fei- eral trade commission. Mentioning tho federal form loan board. he sn d
 Does not the objection 10 the prin- ciple involved when governmental re- lations are infected into business life quite as much with bankers as with the legislators Will We not always find the people groping to do through governmental agencies things that arc left undone or are badly done by indi- yidual initiative Must We not safe
 guard the future from an unwise par ticipation of government in business by seeing that business Is so well con ducted. SO fairly administered. as completely responsive to legitimate | son for government participation
 Within a week l heard the repre- sentatives of four treat railway unions state his views before a New York
 club. To my mind they were views that contained the essence of anarchy We were told that we must not pas certain laws because suey would not hf obeyed. We were given clear intima e 1 iions regarding the power of these or ganization, but there was not a hint of their duty or responsibility 10 so- ciety.
 'I am hopeful that such utterances l do not voice truly the attitude of tho 1 people Of America nor of any great part
 of organized labor. but they certainly emphasize the need for a national
 awakening to the end for sound think ing on economic problems
 Tt is easy to see that the unsound pnwise. the wrong solution of the
 problems that are pressing upon us will
 cost an immeasurable sum of potential
 wealth. of individual happiness. and l national progress
 Mir Vanderlip declared he believed | the federal reserve board had ruled unwisely in advising against invest
 ment by member banks in short term 1 obligation of the belligerent govern ments.
 'I believe such action by the banks
 would be wise from a strictly banking | viewpoint" he said Such an invest
 rnent would tend to restrict further | gold importations, which may lead to dangerous domestic imitation ana
 would provide credits which would b.
 better than gold when eventually
 these exchanges turned against us"