The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1919-08-19
BIRTHDAY MESSAGE
BY HENRY CLEWS
Nv HOLLAND


New York, August 1S.-(Special Prob
ably the most interesting part in the in
formal statement which was made for
publication by Henry Clews on his 18th
birthday was his reference to the oppor-
tunity which now awaits the United
States with New York as it's financial
center to gain the prestige and influence
which are associated with the financial
center of the world. Certainly his com
ments upon this point has occasioned
greater discussion than any of the other
interesting things which he said.
Mr.. Clews has been identified with the
financial life of New York, and in some
measure with that of the country for
many years. He has gained recognition
zens. He overcame trials and tribula-
tons, which through no fault of his
own beset him many years ago, and did
it in such manner as to gain for him
high credit which has never been inn
paired-double credit in fact, because all
that he has said has been deemed worthy
of listening to and of needing and also
credit as a financier.
Mr.. Clews is not unlike many of the
leaders in the financial district and in
fact in other parts of the country in
maintaining courage, faith, hope, which
are qualities that constitute optimism. He
has never been a bear on the United
States, not even in the days of his early
manhood when he as an Englshman by
birth, came to New York and began his
career as a banker.
His optimism in his recent statement
was voiced in few words. 1t is based
upon the fact that the United States
possesses unexamped natural resources,
and in fact is the only country in the
world which is able to live upon its own
| resources not being dependant upon out
side aid. Among the resources of which
| he speaks are our cotton fields, and he
looks forward to greatly increased pro-
duction of cotton that running concur
trent with a large development of other
agricultural industry in the south. APP
parently he regards cotton as next to
| food, steel and iron, as the chief re-
source of the United States since we
can depend upon the cotton fields and the
4 iron mines for abundance of raw ma
terial, and also upon our vast acreage
| of farm land for food.
THE OIL INDUSTRY
| He also refers to oil, meaning petrol
cum as among the most important of
the natural resources of the United
States. evidently making mental reser-
lvation respecting the ability of the
American oil fields to produce year after
year as nearly 350,0O0,c7o barrels of oil
| as they are now doing. In other words,
| this is natural resource which may be
| exhausted. while cotton, which is OF
yearly growth and iron of which the sup
ply is inconceiyably great, are in no
danger of exhaustion.
/ So also like all the leaders in indus
try and finance he looks upon the pres
ent industrial unrest as due almost ex-
clusively to the high cost of living. He
! is also persuaded that commodity prices
will gradually decrease SO that perhaps
more speedily than many think possible,
a dollar will buy dollars worth of the
necessaries of life. having regained its
/ full value in relation to commodities.
THE DAY OF COOPERATION
Mr.. Clews is in full agreement with
| John D. Rockefeller and others in his
belief that the principle of cooperation,
as distinguished from drastic, cut-tnroat
competition, should be adopted and in
fact is likely to be adopted. If that prin-
4 ciple be wisely utilized he regards it in
eyitable that the United States, with New
York bearing the same relation to the
country which London does to Great
Britain, may become the money center
of the world.
Something more than mere national
pride lies behind the purpose to take ad-
vantage of this opportunity and establish
the United States through New York as
the money center of the world. For our
national interests would be, thereby en-
HANGED. -
But we have a great deal to learn. Some
of the able financiers cannot be persuad-
ed that New York may permanently take
away the prestige from London OF be-
ing The money center of the world. Leo
poid Frederick does not see how we can
force London into the background.
Barton Hepburn, understanding Wen
what credit facilities which are IN ,ne
rossession of the great banks of Lon
don. and what the standard Of foreign
exchange namely the pound sterling, is
for the merchants of the world, doubts
whether it will be possible for New YORK
in view OF these london advantages to