Arizona republican., 1919-06-08
.HAS SNOFEARFOR FUTURE; TRADE
 OUTLOOK GOOD
Resume of Business Condi-
 tions By An Expert Shows Every Department
 Headed toward Certain Progress {.

IrOgfcSS In the c. W. W. bulletin for May, a copy of which has just been received by the chamber of commerce, H. s.. Martin, assistant secretary New York Stock Exchange. presents a resume of business conditions under the cap- ton, "What is the general business out look?", He first takes up the matter of the labor and employment problem, considering it broadly and in numbers, stating that approximately 6,000,OOO men were taken out of the ranks of producers and replaced by older men, women and those who had not pre- viOusly for one reason or another been producers. With the exception of pos sibly a quarter of a million, these men are returning to become producers again, and in answer to the great ques- ton. Will they find their old or some other place open for them ?" he in con- siderable detail shows that the danger Gf it be a danger.) of women holding The jobs indefinitely is not as import ant as some have thought. He be- licves that the most hopeful sign is in the new business that has been created and is being created.
 Absorb all Soldiers
 This additional business he thinks will absorb all and possibly more of the returning soldier labor. In proof of this he states that we had billion dollar government a few years ago and now we have a four billion dollar government The needs of the army { he lc,I-p men than ever before The govern ment will too, take up great construc- ton works such as irrigation. water ways and other public utilities. He says that there is progress in every line and phase of human endeavor is infallibly certain. We can feel sure that the great underlying moral force which terminated this great cataclysm in favor of law and order. and which will terminate every other such com bnation of events in like favor, will continue to work for progress"
 He proves by figures that while we spent the enormous amount of SEA- OO0,000,000 in the prosecution of the war, including the money loaned to the Allies, the valuation of property has increased $11, 900, ,00O0 900 above this eXpenditure or s35,000,000, 000 in all.
 Three Signs
 He states that there are three de pendable barometers Of trade-'the stock market, the steel trade and the railroads. The steel captains tell us that we will have to supply Europe with construction materials to such an extent that we must curtail our own building program, which we all know, is a year and a half behind already; the stock market shows all the in cipient signs of a coming boom, while the railroads despite increased freight and passenger rates, are crowded to their capacity. Fundamental pros Derity, therefore, seems assured
 Summing the world situation in a broad way he says
 We have the money; we have the brains: we have the experience: we have the nerve; in fact we seem to have everything we need We need fear no bolsheviki; where we have one vicious laborite, we have thousands of the other kind; our land provides only one class of citizens-first-class. We are not automatically divided here, as abroad, into lower class, middle-class and upper class; only the one class first-class.
 Russia may undergo her dreadful experience for another fearful year but sense will emerge there, as it al- ways does, and triumph. Its un- touched resources will make of it a wonderful country.
 South America Promising
 China has wealth of which we can only make a surmise; Brazil, Vene- zuela, Argentine, Columbia one with coffee, another with beef and cereals, fhe others with oil reserves, such as our engineers have said are 'second To none in the world" copper, nitrates asphalt, spices, all within five days oi our ports, and that much nearer to us than to England. There is something ahead to do.'
 So far as the expansion of trade il America is concerned he considers South America the logical and most promising field. European nations have enough to do to supply Africa China, India and other countries close at home, leaving America for Ameri cans. In conclusion he says:
 Tt behooves us to move in upon the South American field, slowly at first but with growing confidence and i'm proved ability, so that the Monroe doc Urine, originally only a political meas ure, will gradually become a partner ship agreement between the continents destined for the great place in the world reserved for North and Soul America. Considering these things i seems only reasonable that we car look forward with implicit confidenc, to prosperity-in fact 10 unparalleled prosperity"
 MAXWELL HAD ALI EEATuRES