The Birmingham age-herald., 1917-10-11

l the office of one of the high executives
 associated with the United States Steel corpora ton, Is exposed to view, nicely framed, an apothegm consisting of these l words: .sIn time of war, prepare for peace"
 Already this corporation Is looking far ahead so that 1t may be in position to
 meet some of the exigencies and the
 conditions that are without precedent which are to follow the termination of the world encompassing war.
 It is observed that many of the indus trial leaders and almost all of those who are leaders in the steel industry and in
 banking are now taking time to con 1 slider what our situation Is to be after the war is ended. There does not seem to be general agreement upon conditions as we shall find them when the war is
 over many persons think that the gov ernment and Congress, having learned l the remarkable lesson which has been taught through the coordination of the 1 railroads, the cooperation and co-ordl- nation of industries and the vital neces-
 
 l sity for increasing our shipping, will be prepared so to act as to facilitate the l speedy readjustment of industries and especially the settlement of the vital l railway problem
 l Organizations have already been per l fected whose purpose Is not only to 1 mai.itain but to increase our foreign trade after the war. There Is no doubt tha, the leaders in tho steel industry 1 look confidently to . very great in- l crease in our export of steel commodi- ties of all kinds to other nations.
 In speaking of the period of reorgani- zatlcn, Frank A. vanderlip recently wrote that while the period immediately 1 following the war is looked forward to with more or less apprehension, never- theless in the realization of possible dam I ger Is to be discovered the best assur-
 ance that it will be averted.
 l Some have spoken with concern about the effect upon industry which would
 be occasioned when the war is over by Hons of mon who have been serving in I the armies. That was an apprehension
 which was voiced by many leading men of the country in tho last year of our l civil war. They could not forecast the :, effect upon industry of the mastering out of 100000 men who had been for l four years occupied In fighting. These apprehensions were .groundless for these honorably discharged soldiers. 100000 or
 moro in all, were swiftly and without appreciable disturbance of industry ab- sorbed in commerce and industry and many of them in railroad construction. It used to occur to Gen. Granville E. union army. that there might be some industrial disturbance when the war was over and the soldiers returned to their homes Tn the last year of General I Dodge's life when he visited New York,
 he was accustomed to say to his friends that the nation absorbed speedily and with very bepeficial results all of the soldiers because there began the work
 made necessary by the reconstruction of our material forces and especially by the building and repairing of railroads. General Dodge himself IS executive head 1 of the Union Pacific railroad. which was
 under construction when the war closed,
 employed many men who had been Con- federate soldiers and who rejoiced at the opportunity of securing work from the
 railroad.
 Labor is now 30 scarce as to compel, as the textile industries of New England have just done. the granting of an in- crease in wages Whether the return of the American soldiers will tend to sta-
 biiize wages and prevent further in- creases or not, nevertheless they will be of great assistance when we como to re-
 adjust our Industries and commerce to the reorganization conditions.
 ll Many have said that labor will not be
 furnished In sufficient amounts when the
 war Is ended to make 1t possible rapidly
 to build up industries and restore devas- tated countries and ruined railroads. There will. therefore. be q very great de-
 mand for labor. Mir. vanderlip h quoted
 as having said that one of tho great questions whose answer involves the sue cessful readjustmcnt Of our industry. agriculture and commerce to the new
 conditions that will be established after
 the war refers to capitai and to credit.
 Many people are fearful lest capital Yill
 be exhausted and credit reduced to
 fninimurn.
 That Is not Mir vanderlip's opinion. Great as our war debts may De and great
 as may be those of England and France.
 the payment of them absolutely depends upon the swtft and healthful reconstruc-
 ton of industry In the monthly review
 prepared by the National City bank
 under tsn ~ Of President vanderlip, 'it'