The Washington herald., 1918-11-06
WILL DISCUSS
U. S. INDUSTRY
5000 Leaders to Consider
Postwar Conditions,
Says Holland.


Thanksgiving certainly 1900, and pos
sibly as many as 5000, Industrial lead
ers of the United States will meet at
Atlantic City for the purpose of dis
cussing not only present conditions In
the world of American industry, but
those which will arise when the war
is ended.
These leaders are to listen TO a num-
Der of men who will speak with high
authority. The Secretary OF Com
merce, William c. Redheld. who Is
understood TO have been diligently at
work upon certain problems which in
dustrial conditions after the war sug
gest. will probably give some hint
to this great body of which will show
the trend of his present thought, Then
there are to be A. c. Bedford. James
A Farrell and Paul Warburg. Very
likely Mr.. Bedford will refer TO the
relation which the oil industry bears
not only to present conditions. but to
the very important situation WHICH
will be speedily developed when peace
comes. Mr.. Bedford has devoted the
best part Of the year TO service for
the government in attempting TO con-
serve and properly to regulate. and,
IL possible. greatly TO increase the oil
supplies of the United States. He has
probably worked as hard upon this
problem as he ever did upon any
which came before him when he was
president Of the Standard Oil Com
pany of New Jersey.
Cooperation the watebword.
James A. Farrell, president Of the
United States Steel Corporation.
whose name will go into tradition
as the up-builder of the marvellous
foreign trade in steel and iron pro-
ducts OF the United States, is to tell
the members what he things condi-
tions will require for the mainte-
nance and increase OF our foreign
trade. when the world is ready
again to engage in international
trade. Paul wsrbUrg will give
these industrial leaders something
to think about respecting the future
financing which will be necessary il
the United States is TO meet its op-
portunities and responsibilities.
Those who have been arranging for
this conference, which is called a
war emergency and reconstruction
conference, are of a common opinion
respecting one fundamental purpose.
and that is the determination OF
practical methods whereby American
industry may cooperate still more
closely with government through a
well centralized scheme Of organiza-
tion. That is the purpose OF the con-
| ference and it is not improbable that
it may be decided that the best way
TO accomplish this purpose will be
through the creation OF a federation
( Of all the war service committees.
The reason for this view is 20 be
/ found in the belief that single indus
tries. IL each one acts alone. stand
/ ing by itself, cannot hope TO assist
/ IN reconstruction on the scale that
will be necessary. and for that rea-
son a federation Of all the war serv-
l ice committees of all the industries
will be the surest and perhaps easiest
method of bringing about co-opera-
ton with representative agencies Of
! the government which will be ere
ated to deal with reconstruction con-
ditions. This gathering will, from
one point OF view, admirably supple
ment the meeting OF the American
Manufacturers Export Association.
which took place in New York last
week.
! This association seeks the perfect
/ ing of organization whereby the
/ United States will be able vastly TO
extend its foreign trade. We are
! sure TO have the ships that will be
needed We are likely to secure such
modification Of the statutes rs will
/ nut end TO certain erlbarrassments
which American shipping has n"re-
tofore met with. We are 10 hsve
vast industrial plants fully pre-
/ pared to meet any demand which
may come and. with the return of
/ the soldiers, many Of these plants,
J il not all. will find themselves re-
lieved so far as the doubt respecting
labor is concerned
! But il was pointed out TO this eN-
port association that there is an
other factor associated with the de-
velopment OF our foreign trade to
which full consideration must
given. That is the financial factor.
I We shall be called upon unquestion-
ably to send to other countries an
! enormous aggregate Of commodities.
I Next year alone, even IL the war be
speedily ended, we must send to
other countries at least ., ,oo0. 900 tons
of foodstuffs. We must export
large amount of raw material and
also Of manufactured commodities
But how are these to be paid for?
CertalnlN not lot a EOOu NlllAt bg
imports. because the countries Of the
world with which we were accus-
toned to deal upon a large scale, ex-
cepting Canada and South America
will not be in position to send us
many Of the commodities produced
in those countries. Therefore we must
lend these countries the money with
which TO pay for these commoditier
That rndoubtedly will involve the
floating in this country OF vast
amounts Of foreign securities.
Possesses Liquid Market.
Fortunately the United States pos
sesses the only free and absolutely
liquid market for the flotation Of
| securities that is to be found any
| where in the world. This market has
been spoken of by some whose opin-
| ion is worth needing as one Of our
chief national assets Mr.. Vanderlip
spoke the thought of many who have
been giving this subject careful con-
sideration when he said to the eX-
port association that the banks and
the organizations which distribute
securities will have responsibility and
opportunity Of the utmost Importance.
For upon them win be devolved the
duty Of making wise selection OF
| foreign securities and then of so hand
| ling them as to give them such pop
ularity as will induce the American
people to invest in them.
| II this can be main Z
II this can be accomplished then
/ there is no doubt whatever about the
maintenance and increase OF our fore
( ign trade. There is also no doubt