New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-01-08
No Harm In Preparedness

The reason we are Cup in the air" is
that nobody knows what will happen
when the war ends. Mr.. Gary does not
undertake to say. He merely reviews
he cause and its effects:
When the war orders, so called. began
10 appear. their influence was Immediately
perceived The war furnished business and
money from other countries. and it inter-
rupted the practice of dumping into our
markets the surplus goods and wares pro-
duced abroad with cheap labor and offered
al or below even the cost 70 the foreign
producer II is difficult 20 exactly measure
the volume or influence, directly and indi-
rectly, OF a new or additional line OF bust
ness that is offered. For example. il
million dollars in value is offered by
foreign purchaser 70 an American pro-
Queer who has a surplus capacity. the lat
ter Immediately prepares to all the order.
This neeessitates the employment or re-
employment OF extra men, and they, in
turn, make increased expenditures for the
comforts Of life. The merchant who sell
10 them buys more goods, and these are
carried by the railroads, which hire more
men and so it goes on and on The
original producer. who is filing the order
received from the foreigner, increases his
freight payments 10 the railroads, and in
this way another circle Of business ex-
mansion is started. Besides, the producer
expends all or n part Of his profits for his
comfort or luxury. and this develops and
travels throughout the country like the
Others. Il is not necessary to multiply e1-
amples in order to illustrate the point.
When il is remembered the foreign coup-
tries have been purchasing TO the extent OF
billion. it IS realized that its influence on
our business has been tremendous.
whether satisfactory business will con-
tinue without interruption after the war
closes. what rate or percentage Of de
creases. il any. in volume or profit will
ensue. when, If at all. dminunon may be
expected. are mooted questions There are
differences In the opinions expressed. 1t
would not be useful for my purposes at this
for either view.
II is obviously the better part OF wisdom
10 prepare ourselves 80 far as practicable
for uufsyorsble change in the economic
situation. No harm can result from this
course, however unnecessary IL may here
after prove 10 have been; and much BEN
eft may come from the exercise of pre-
caution.
Mr.. Gary believes that when the war
ends the belligerents. Thoroughly
equipped for the contest, will reenter
the arena OF international financial,
and industrial rivalry with
a grim determination to excel. That
will be both their duty and their right"
However:
The problem for the people OF this eoun-
try TO make most prominent in their con-
siderations Is how. in what way. by what
policies and efforts. our rights and interests
may be protected and promoted, whatever
conditions may obtain. II Is not enough
that We have the most gold, the most cur
rency, the highest credit ths largest pro
ductivs capacity. For our own livelihood,
our existence. these may he sufficient, but
all civilized nations belleve that the highest
achievements, the most desirable results,
are reached only by mutual communication
between all nations. We desire 10 transact
business with all others, to sell to them our
surplus products and to buy from them
what We need and they have for sale. All
should have similar privileges and restric-
lions. and We should be able 10 demand
this on the ground that we are always fair
and reasonable ourselves. There should be
no undue advantage taken or possessed by
any.