New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-01-08
SEES U. 5. MIDAS
AMONG NATIONS
Redfeld Warns of Danger
i'm War-Made Pros
perity.
MUST MOBILIZE FOR
RETURN OF PEACE
Business Should Prepare TO
Fight to Hold
Markets.


Washington. jan. T.. Secretary Red
field. in a memorandum on business
conditions transmitted to President
Wilson to-day, pictures the country az
in the most prosperous state OF its his
tory. Tho warning Is added, though.
that the wars initiation Of commerce
will last only until the wars end, and
that business foresight alone will pre-
pare the United States for peace
'Tt Is not to be expected" the Sec
rotary says. that our business move
ment will continue in its 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 our favor
on merchandise transactions Of three
billions In any dne year.
at Is alike impossible and unde-
sirable that these things continue Il
is impossible. and for no other reason
than because the world has not the
power 20 pay TO any one nation such
vast sums for any long period, in add
ton TO the waste of war. The ma
tons are not spending their incomes
in our markets. but their capital, and,
vast as II is. there are limits to which
the continuance Of the processes IL un-
desirable, for it would make us tho
MidN among the nations and produce
a moral overstrasi that would be dan
gerous.
Must Have Vision In Future.
whether we shall remain the first"
the memorandum continues, depends
upon the wisdom and energy OF our
bankers, manufacturers, merchants and
farmers. We have for the first time
in our history sound system OF
finance. In this one respect our pre-
paredncss is complete. Our finances
can be modified on demand TO meet
the needs OF trade.
THE economies forced upon rail-
ways. industrial corporations and in
dividuals in the recent years are
potent factor in maintaining prosper
ity. Our business is being better done;
less wastefully done. than heretofore.
There is a new tone Of efficiency in
factory, in office, on the farm and in
the WORK of the railway manager.
"Our horizons are wider. Names
that were strange are common az our
breakfast tables. Our relation with
the whole world is more conscious. l.
is not as strange thing as 10 was TO
many Of Us TO 90 business across the
seas. II am correct 90 tnls an4ly SIS,
,he buying power Of the United states
Is greater than 10 ever has been, and
TINS power ls more widely distributed.
The selling power OF the United states
is greater than II ever has been,
and TINS is more widely distributed
than heretofore. The loaning power
Of the United States is greater than 70
ever has been, and this Is more widely
distributed also. The saving power OF
the United States is greater than ever
before auu more widely Distributed
Conditions at Wars End.
OF the change to come az the end OF
the war the Secretary said:
1.-THE war order must be replaced By
the peace order, and, as has been said,
the whole foreign trade must readjust
itself to more normal basis. Certain
good customers. however, have not
bought much OF Us in the last year, and
their business must in large part re-
turn with wars close. We sold 10 Ger
many, Austria-HunEary and Belgium
about S44O.000.O 900 in value annually.
Much Of this must return with the
coming OF peace. Our annual sales 20
Mexico should increase by S30,OO00O0
20 reach their former limit.
ave are, furthermore, the source
from which purchases for rehab.lita
ton must be made Already from both
groups OF belligerents there is assur-
anee Of heavy purchases Of munitions
OF peace i1 ,. -rt. OBJ part, at east, the
sales of munitions Of war
"U mg ..l...Is be- sound, we shall
lose the abnormal part OF our export
trade and shall fall back TO a basis
which we may fairly expect VIII be
larger than that before the war. We
may keep, II We Will, the urst place. 10
depends on ourselves. About % only
this one thing can be said with GER
tainty: This opportunity and the pros
perity affected by il will be just what
we choose to make IL.
"But there seems nothing that threat
ems the continuance of a general pros
perity based upon sound and well I'M
derstood economic forces. Our mer-
chant marine is larger than 1t ever has
been, and is growing. Our commerce,