Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1917-05-12
Expert Tells Why Business Win
Expand Rather Than
Slow Up

Increased instead Of restricted pIIr.
chasing power, an extraordinary boom
N general business and consequent
country.wide prosperity are the op.
fIrnistic prophecies Of business men
who are asaiyEing the situation
brought about by the entrance OF the
United States int the war.
One OF these prophets Of Optimism
fs Harry n Jewett, president o! the
paige-Detroit Motor Car Company. HIS
eminent was the result OF certain
pertineft questions that had been PIT
iip to him to answer. He was asked,
fcr example, what effect the war
would have on business I'm general
He was also asked n there would Dc
iloIdup In the production OF aTto.
mobiles and other commercial prod
nets, whether the equipment By the
Enited States OF an army Of two mil.
lion men and the financing Of seven
billions Of dollars would not seriously
affect the financial condition Of the
country. Finally. be was, asked tie
signincRnt question whether the pdr.
chasing power OF the people would be
contracted TO certain degree. His
answers were not only flat denial
on any harmful results. but an enthns-
ftstlc and confident declaration II OF.
timisn based on convincing facts and
logic. @. e.. -
"The financing OF seven billions OF
dollars by tho government is some
thing that should lIayo been started
years ago" said Afr. Jewett. Tine
government SHOULD have continued 10
epend for our army, navy and coast
Defense until this country was In 8
position OF absolpte impregnabiIIts.
"The spending OF billions for our
own defense. which Seems To be the
present plan, Is not a matter OF a day
or d month, II takes time 10 equil
m army OF two million men, but our
factories are equal TO the emergency.
The money used Is only released Tor
circulation. as II comes back TO the.
people IN wages and through the pur-
chase Of raw and finished products.
As for the proposed loan to the Allies,
the financing Of this operation will not
be felt In the United States.
III one VIII only take a glimpse al
the banking situation IN this count1j
one viii be convinced Of this fact. It
a estimated that the capital, surplus
and deposits Of our banks total APP
pfoximately thirty.f1ye billion dollars
81 the present time Therefore, the
hanks alone could loan the national
government at least ak billion dol.
lars and at the same time carry on
the loans they are now making In the
regular course OF business to finance
the Industries Of this country
II this is the banking condition OF
the country at the present time, how
can anyone think that the financing Of
seven billions Of dollars by the people
q the United States is going to make
3 disastrous impressionl
The United States government can
raise seven billion dollars and Eeen or
With several billion. more without cons
tracing the purchasing power Of fhe
people to tho extent that general busi-
ness win feel the sting, for Il takes
time to spend these billions and IN the
meantime the reopie OF the United
States will be getting tf4f much more
cconomic wealth. Instead Of contract
ing business the war IS going 10 ex.
Dand business. Il Will give the people
~ tuc QAttcQ STATES tuA@ utuNn htOlc
purchasing power
what is making GOOD tilnes2 Every
factory In tie country running to full
capacity. every iaborins man getting
Iofnotch wages and every factory sell
Ing rs product ct fair profit; every
farmer getting t0Snotoh prices for his
grain and cattle why should anyone.
think under these conditions, that.
there Il going 70 be any contraction.
IN the purchasing power Of the people2
The people have the money and they
want manufactured materials Of all
IIndf
The government e not going 10 In
Itfiere with general business in this
tcuntry or commander the manufac
turing institutions. Have We not sup
rIied more than two million troops OF.
the allies witt munitions. clothes.
arms. motor trucks and other articles
used IA war without taxing our manu-.
I6ctnrlns resources beyond the limit2'
The allied nations have caught up
now and the factories Of America are
now open to the task Of s1nplyins the