Courier Democrat. (Langdon, N.D.) 1891-1920, 1916-02-03
trade Initiation
TO END With WAR
Secretary Redfie|d Warns COun-
Try TO Be Prepared.
EXPECTS PRICES TO DROP.

This Country Must Fight Hard to Re-
tain Worlds Commerce That Is Now
Bringing Millions and Millions to
Our Shores Annua!ly-Normal Pros
perity Only Expected.
Secretary Rcdiield, in Il memoran-
dunn on business conditions transmit
ted to President Wilson, pictures the
country us i'll the most prosperous state
of its history. The warning is added,
however, that wars imitation of com
MERGE will last only until the war ends
and that business foresight alone will
prepare the United States for peace.
The slump that will follow the war,
Nh. Redtield's summary declares. must
lind Americans ready to take their
share of the worlds trade unhampered
by provincial notions. False values
created by unusual conditions. he fears,
may lull the United States into Il fam
cied commercial security.
1T is not to be expected the sccre-
tary says, that our business move
ment will continue i'll it's present form.
No one dreams that we can now or in
the future maintain an export move
ment of more than five billions actual
value or that we may Sanely expect an
apparent net balance in u favor on
merchandise transactions of three bill
lions i'll any II year.
Nations Spending Capital.
1T is alike impossible and undesir-
able that these things continue. 1t IS
impossible because the world has not
the power To pay 10 amy one nation
such vast sums fot amy long period.
in addition to the waste Of war, the
nations are not spending their incomes
in our markets, but their capital, and,
vast as it is, there are limits to which
the continuance of the process is desir-
able, for it would make us the Midas
among the nations and produce Il NOR
al overstraiu that would be dangerous.
1--WE should be subjected through
having such Il giants strength to the
temptation to Use it like II giant. Ev-
cry evil that excessive power brings to
mon would threaten us
Opportunities for Il normal prosper
ity after the war are outlined. the soc
retaIy declaring that the United States
has jumped 10 first place among the
nations in international trade.
"Whcthcr we shall remain the first
the memorandum continues, depends
upon the vision and energy of our bank.
crS, manufacturers, merchants and
farmers. We have for the first time il
our history a sound system of finance
In this ono respect our preparedness
is complete. Our finances can be mo
b:liZed on demand to meet the needs
of trade. Enterprise and investment
may move with Il gertrude be
fore known as regards our fiscal SyS
TEN. We hold the greatest gold re
serve of history.
peace Munitions'' Here.
Both financial power and effective
means Of using that power are i'll oul
possession. Together they may form
Il basis of commercial and financial Cd
portunity."
Of the change to come at the end o
the War the secretary says:
The war order must be replaced b.,
the peace order, and, as has been said
the whole foreign trade must readjuS
itself to a more normal basis.
I'VE are. Furthermore. the sourc,
from which purchases for rebab;lita
ton must be made. Already from boil
groups of belligere!tS there is assur
ance of heavy purchases of munition,
of peace to offset. in part at least. til,
sales of munitions of war.
IF my analysis be sound we @llal
lose the abnormal part of our eNFur
trade and shall fail back to Il DlSi
which we may fairly expect vii: b
larger than that before the war. w
may keep if we Will the first place
1t depends on ourselves. About it onl,
this one thing can be said With Ger
t~ainty-this opportunity and the pros
pcrity affected by it will be just wha
we choose to make it"