Every evening, Wilmington daily commercial., 1918-04-20
SEES VAST GAIN
IN WORLDS WEALTH
Head of u. S. Steel Corporation
Predicts Prolonged Period of
Prosperity After the War.

Cincinnati, Ohio April 20-''We shall
sec such AN increase Of the worlds wealth
as will go far to compensate for the ap-
pallng destruction which the past four
years have witnessed" asserted James 4
Farrell. president of the United States
Steel Corporation, i'll an address he de
lvered here last night at dinner m
connection with tho annual convention OF
the National Foreign Trade Council
Mr. Farrell declared that tho United
States and her allies would emerge from
the war victorious
Speaking on Foreign Trade Aspects.
Mr. Farrell said that the ephemerai wealth
Accumulated from the use of our mines.
mills and forests in the aId OF the allies
before We Joined the common cause, has
been mostly swallowed up in the military
expenses nf the first wear of orr own
participation in the war
Tho gigantic tack confronting the
United States meant, he said, not only
that the Allies must he protected against
defeat and the continuance of our own
national existence insured, but that "otr
great resources should hc fully utilized
FOR the restoration of tho decadcnt indus
try Of shiphuilding
Predicting long period Of industrial
prosperity after tho war, the speaker
said America, IL may be hoped, will
maintain the position Of offering 10 the
world All its requirements which can he
supplied here. on terms and conditions
that are fair and just There ~ no CYL
dcncc of any intention 10 take undue
advantage of our economic and productive
strength, and We shall IN the future he
as little disposed 10 turn 20 personal
profit the necessities Of n wsr-w0rn world,
or tho exceptional influence Of olr poal-
tlon as exporters and importers
Americas foreign trade both export
and import SAID Mr. Farrell, Is now in
evltahiy restricted tn transporting oir
armies to France and keeping them md
our Allies supplied with food and mum
tIons
Their arr, however, he asserted,
certain commodities procurable only
from overseas countries, which are es-
sential TO the successful prosecution OF
tho war We constantly need
meat rubber. coffee, cocoa, hides and
manganese orr from Rrazil, wool, meat,
hides, and wheat from Argentina; copper,
cotton and sugar from Peru; copper, tin
and rubber from Bolivia; nitratcs, cop
per, wolfram, tungsten and other ores
from Chile; tin and rubber from the
Malay Peninsula; jute and Iute bags from
India" and that the United States must
furnish the ships to carry these products.
The speaker also expressed the belief
that after the war, Germany would be-
come "as potent competitor for the
markets of the world as she was before :
and that the people of the United States,
therefore, must Immediately mobilize
their surplus resources
"As We have willingly devoted our
lives and our fortunes to the cause Of
the Allies who have already gwen most
of their wealth TO carry on, IN our behalf
as in their own, this titanic struggle for
liberty" said MIR Farrell, 1T would be a
natural corollary to this Joint enterprise
that there should evolve at the end of the
war a definite plan of international CO.
operation in the financing Of foreign
enterprises y