The Glenwood post., 1917-05-26
Armour Opposes False Econ
ony in Face Of the Great
Boom in Trade Here
keep WHEELS TURNING

The United Stttes is i'll a position
where optimism is Ju.t'leG. according
to j. Ogden Armour in an interview
discussing the economic condition and
future of the nation.
1.-THE prompt adoption by the Ameri-
can people of the business as usual
idea is going to enable this nation to
prosecute war without experiencing
temporary depression such as England
and France have recently recovered
from,' said Mr.. Armour. "Modern
war requires the expenditure of huge
sums of money and means maximum
employment and high wages for all
workers. Other conditions, peculiar to
this war, make it certain that this ma
tion will enjoy period of business and
industrial activity the like Of which
has never been seen and which is as
sured whether the war lasts several
months or several years"
"But suppose people become overcau-
tious as the result of the preaching of
war economy-then what?" he was
asked.
"There is some reason to believe"
he answered, "that economy rules will
be misapplied for while, but eondi-
tions are such that the public will soon
tsee,1if they have not already, that there
is no occasion whatever for them to
become alarmed. a.
Continuation Of the great prosperi-
ty that has ruled in this country for
two years is assured. There is an alb
normal demand for everything the
workers of this nation can grow or
manufacture. There is work at high
wages for every man and woman who
wants work: the earning power of the
people is restricted only by physical
limitations: the buying power of the
public is greater than ever before.
These are certain guarantees of con-
tinued prosperity and of an ever widen
ing scope to our business and indus
thal life'
"How about the billions of dollars
We are lending to our allies?' he was
asked. "Wouldn 7 it be better to keep
that money at home?'
"As matter of fact. it is mis-
nomer to call it a loan to our allies.
Mr.. Armour said. "Wc are primarily
extending them credit Instead ~
sending billions of dollars out Of the
country. the transaction means thai
hillors of dollars will actually he freed
for circulation in this country. Prae-
ticallv all of the billions we lend our
allies will he snrnt in this country for
the nrodncts of our soil and our fac
tories and for ravment of onr workers.
"We are The storehouse and the fac
tory of the world now. and the more
money the world can get hold of the
more will be sent here. and the more
that comes here. the more work and the
more business will resrlt. And in this
connection. remember the government
of the Tinted States is now buyer for
war purposes and the dollars Of Uncl:
Sam have already begun to ponr forth
to stores. factories and farms to paw
for the expense of mobilizing, drilling.
eouipping and feeding the army and
navy.
"Under the civilian boards gathered
together bv the president to direct the
great work Of preparation, this nation
is going ahead, fortified against delay
and mistakes through the inteIligeut
application Of the lessons learned in
England and France. This applies to
industry as wen as war.
"T consider the present the most
auspicious from the standpoint Of ns-
tional prosperity in my memory. There
is not one good reason why the business
Of this country should not proceed in
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