Evening star., 1917-05-25
SAVINGS Of FUTURE
MUST PAY FOR WAR
Mr.. VanderIip Tells Editors 1t
Is Unwise to Burden Nation
With Heavy Taxes. :,
PUBLISHERS TO AID U. S.

PUBLISHERS TO AID u. S.
Editors Of about 800 engineering.
technical and a trade publications met
here today with the council of national
defense to discuss plans to assist the
government in the conduct of the war.
The editors. along with the publishers
of daily newspapers, are observing vol
untary censorship restrictions and are
cooperating with the government in
putting before the people the country's
war aims.
Speakers today included Secretaries
Lansing, Baker. Daniels. Lane, Houston.
Redfield and Wilson and members Of
the defense councils advisory commis-
sion.
Virtually every business, technical
and trade paper in the country was
represented at the conference, whose
purpose. according to the call for the
meeting. was ito further the mobiliza-
tfon of the business press, and to throw
light on the most important problem in
the campaign for nation preparedness"
The meeting was not open to the pub
lie.
Success Based on Organization.
Frank A. Vanderlip, president of the
National City Bank Of New York. who
was invited to address the conference.
that the success of the United States in
the war would be measured by it's de-
gree Of organization.
'4The business of Americas business
men is to cooperate with the govern
ment." said he. THE government is or
ganizing for q new business. The busi-
ness of war no longer is that solely of
fighting, but all are combatants, all are
ured by the degree Of our organization.
THE government asks for $7,000,000,-
600. Nobody knows what that means.
We haven't got that much money, and
IL we haven't got 1t where are we to
get it? We must get it from the wealth
of the country, which is estimated at
$3.50. .000. 100000. But we can't subscribe
railways and houses and business. All
that our forefathers or ourselves have
saved is in property. You can't invest
money over again.
This war must be fought on the
sayinss IT The sansn whGls
credits. We muSt borrow in advance
of our saving ahp liquidate as we
save. This appliee to all. millionaire
and .employe ALIKE. You are seeing
his employees pay for them. The -
cannot be financed ON the savings Of
the present.
Must Learn to Economize.
~our lob in one way is more difdsuit
thaa Rritain's. The British people had
oo4An1aeAss1aeAed ont on fQppign
biiH. hit We have no foreign RESOURCES,
and re. must borrow to pay. Thav
teaches thrift. We arc a nation Of
spenders and we must learn to econo-
mize. This is . lesson of tremendous
Importance. We should Interest mil
lions OF persons, and il we succeed In
teaching them thrift we will have
nually to the amount of this bond
issue.
"Some think economy will be bad for
business. but no; business will be dif-
ties. We cannot give Ss'ueeS the sovernment 20 sEss
81, ,000, 100000 and expect to have a.
much left as at present to spend. It ID
unpatriotic to spend money for anything
but necessities now. You should cease
employing labor in unnecessary things.
I'VE are about to see the greatest in.
dustrial activity the country ever has
known. We will see the most intense
activity and the bigeest wage scales. but
it will be in the business OF war. We
will throw no one out Of employment.
but into a situation where two men are
needed instead Of one. Men engaged In
producing luxuries should cease at once
Heavy Tax Unwise. >
There, has been an idea, now appar.
emily dissipated, that the sovernmknt
can spend the same money three tines
by buying below the market price, bY
taxing profits and by subscriptions II
bonds. This cannot be done. We haYS
got to have the power Of accumulstto0
to fight this war successfully. beliST4
business men possess patriotic wte6
to pay wise taxes, but It is not wise -
lay discouraging tax. and we must
have prosperity to win. We must nos
put the whole burden OF this war On
the present generation at the beginning
Of war.
that there will be no real lighting and
that the Germans are almost beaten.
You must not act that way. Contin-
gencies are possible, although not prob
able. which might put q different sitrs-
one knows what is happening there.
Already there is a partial paralysis
to her military forces. but believe
conditions will get no worse. And .
separate peace is possible. although not
probable.
II see many wonderful by-producfs
to come out Of the war for US. Our
people will learn thrift and we VIII
learn that we are fighting for democ-
racy. Never did a nation go into .
war fighting for such principles ~
were expressed in tho Presidents dec
laration."
Question Of Existence.
Secretary Lane deplored feeling
that America is fighting for some Ab-
stract principle.
I'VE are in the war;" he said. ito see
which shall exist. combination OF
feudaiism and science or a combination
of civilization and science"
Secretary Daniels declared that. al
though the country faces q grave sit
uation in combating the submarine, he
believed 1t would be conquered.
IT have the faith and the hope" he
said, that we will overcome it soon.
We will have to follow Farragufs
method and Damn the torpedoes. 80
ahead"
Secretary Baker outlined the courss
to be pursued under the selective df4ft
law. Exemptions would not be made by
industries. but in individual caseA ~
though most men in some trades would
be relieved of military service.
The labor problem was discussed BY
Secretary Wilson and Secretary Re4-
field outlined war preparation WORK of
the Commerce Department bureauS.
Other speakers were George Cree1,
Walter Clifford, director of the cop0cA
of national defense: Frank Scott, c6Sly.
man of the general munitions bo&fA:
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