The sun., 1916-10-21
WARNS ABOUT
AFTER WAR DANGER
Railway Head Speaks Before
Members Council of Mcr-
chants Association.
IMMIGRATION 4 PROBLEM
Organized Effort Pointed Out
as Vital Need Of T.. s. to
Win Trade.
IMMIGRATION A PROBLEM

\ solemn VA ming to business men Ia
prepare for conditions after the war was
voiced yesterday by l.. +. Lorec, prcsi-
dent OF tho Delaware and Hudson Rail
road. at the members council luncheon
OF the Merchants Association AZ the
Astor. Although the wealth Of Europe
Us pouring into our cofcrs, the present
stimulation of American industry Is en-
tirely artificial. he said. New problems
OF finance and problems Of labor arising
from the wur's effect on immigration
will confront this country when peace IL
declared and the solution Of our DIM
culties may he hard to md.
The United States seems to he In a
position to grasp the commercial SUI
prcmacy Of the world. MIR. Loree said.
but he pointed out that nations have
lad this opportunity before and failed to
profit by it.
IN the sixteenth century 1, appeared
to historians that the commercial SUI
nremacy Of Europe lay In the grasp Of
SPAIN he continued. 1.-THE scattered
units Of that country had been united
under a single King who had the rcpu;s-
ton OF being the most consummate poll
,ician OF his age. The Moor had been
driven out Of the confines Of the country
and France had been humblcd.
Fate In Oar Own Hands.
"A great trade was springinG UP with
sn.I,.sa 1etnni,s and IN or.as a.vr - Al.
precious metals was setting in from tho
colonies % the home nation. Spain
seemed To I've on the road to boundless
wealth. and yet In a few years she fell
into ni,ject poverty. ! think ,ha. Is the
situation we will have to face. I think
all the people OF the world to-day rccop-
nise that the commercial supremacy OF
the world lies In the grasp of the United
States.
= Now. what Is the answer 20 be: n
seems To- me we cannot say To ourselves
that II lies in the laps OF the gods. ]
think VIC must ssy that IL lies In our
W hands. and ! think We must say
what your chairman so felicitously said,
that IL does not lie In the hands Of the
individual II lies In the hands OF or.
gsnized enort. such al your instit ution.'
Mr.. f.Orce explained after his speech
''' ~ " ~ HsOAeSst W my
In the possibility hat the Government
would fail to make proper provision to
meet the conditions hat will exist after
the war. The individual may conduct
his business with perfect success, he con-
tinued. but unless conditions are antici-
pated by the Government and Adequately
dealt with the enterprise of the indi.
ridual business man may 20 for naught.
MT. Loree's words were foudly APP
rlauded by the members OF the assocln.
ton. who Allied tho large ballroom.
Among those present were Lincoln
Cromwell. Felix NJ. warburc, Pierre
JAY. Ira A. Place. Isaac y. Scl.gman. A.
Barton Hepburn. William A. Marble.
Cornelius y. Bliss. Jr.. Lawrence Nc
tiuirr. A. Il. Smith. r;corHe 7. Wilson,
VI. Percy feiNotto, president ~ the
American Chamber Of Commerce Of
Paris: Theodore r. Shonts, Joseph T.
Day. George w, Perkins, J. Clarence
Davies and william L. q. Gaillard.
Mr.. Loree showed the great changes
that have taken place IN the trade bal
ancc as a result OF the large rerurchases
nf American securities that had been
held abroad. the tremendous foreign
loans and the great accumulation of
gold IN this country, all of which mr.,
rcassurinE "a to the future. There are
other factors. he continued. which ar.
more diSquieting,