Evening star., 1918-11-14
President Shares Optimism,
of tfBrains" Associated IN
Government Boards.
NEXT FEW WEEKS BELIEVE
ONLY CRITICAL PERIOD
Federal Reserve Board Counted on
as Great Financial
Safeguard.
By N. o. MESSENGER.

Ne W l46G96jxy
Bernard Barueh and the men sf
large business affairs Of this essntsy
associated in the conduct Of the W.
rious major government boards at
Washington are confident Of an era Of
great prosperity after the transition
from a war to a peace basis in indus
try. President Wilson shares their op-
timism and his judgment accords with
theirs.
It is felt that the next few weeks
will be the most critical, and too
abrupt suspension of war industrial
activity is to be guarded against.
After this first hurdle has been taken
straightaway course is discerned.
"Brains" to Stay on Job.
President Wilson, it is said. takes
assurance for the future in the fact
that much Of the best business brains
of the country now assembled Will
remain available as long as neces-
sary in the several war boards in
operation at the seat Of government
To stabilize industry and employment
of labor will be the first object of tho
best business thought of the nation,
geared up with the machinery OF gov
ernment competent to put that
thought into operation and practlcaI
effect.
When that is done the future wifi be
considered, and. looking forward. tho
men referred to in the foregoing SEQ
nothing but fair prospects for the
United States. They point out that
there win be work for the immediate
future, while the foreign trade OF the
nation awaits the reconstruction
abroad. There has been almost COM
plete cessation of domestic building
railway extension, Of street EeilWay
expansion, of a thousand and ono
homely- needs of domestic business.
These projects should, it is argued, be
taken UP at once H. .,,s.ss,.ss4. TIL, iz.
Tremendous Market for Steel.
There must be tremendous market
for steel. which will put into activity
collateral lines OF industry, operating
in widely separated sections OF the
| country. There are many lines Of In
dustry which have not been seriously
diSlocated by the war, srch as dye
stuffs making, textiles for non-mili-
tary use and the like, their number
/ them there is at present an acute
shortage of labor. Cessation of purely
war work should. it is 'contended, re-
| lease men who will return at ;once to
their ordinary ocations.
| For the more distant future the men
of large Affairs say that there can be
no question Of the expansion OF tho
business of this country upon a SoAl0
which the mind can hardly conceive
| at present. The United States will
possess merchant marine adeqoate
for all purposes. There will be new
| markets and new fields to be ex-
plotted. This country, with its advan-
tageS in raw materials, inland rail-
and water and coastwtse transporta-
ton, and with its domestic manufac-
turing plants less dislocated than any
foreign nations, will certainly, it is
contended, have long lead in the
commercial race The Webb foreign
trade act, it is believed. will facilitate
the extension of foreign commerce.
and will be utilized at once.
Count on Reserve Board.
Tho Federal Reserve Board. with
the power it possesses to assemble.
distribute and stabilize financial re-
SOURCES, is counted upon as ono OF the
largest practical assets OF the cour
try. Such a financial safeguard was
never possessed by the country at ths
close of any previous war.
1t is not indulgfng in exaggeration
to say that the business men who are
now associated in government ad-
yisory work here regard the existence
of the federal reserve system as sl
absolute guarantee against financial
disturbances at all calculated to sert-
ously disturb the country. Practically
they regard the financial outlook as
assuredly safe to such an extent that
the main thought can be devoted to
collateral issues.
They take comfort in the fact that
the heavy taxes imposed by the VIZ =
were assimilated by the country witt
out hardship The bond issues turned
out beyond the most roseate hopes in.
dulged by any one. They feel that the
country is able to stand another load
Of taxation and are willing to carry il
uncomplainingly.
The sum and substance Of all this If,
that the men in high position in bus
ness, financial and official affairs. who
are placed where they can know, feel
and declare that the future holds n y
dark shadows for this country in its
material welfare. The weighriest
iproblems are the most immediate and
they are held to be by no means be
yond satisfactory solution.
0DlMNE ANN nlIKE AMEN