Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1919-06-10

tdin dDOunt OI lOOQ, OIL equipment IOr
her railroads.
I'VE are going to be the financial
center Of the world, think. don't
think that that's going to come easily
or as matter of course. London has
been the financial center Of the world
In modern times; and has well dis
charged her obligations to the world in
that respect. But no matter how well
worn the channels Of world business
ara, the world financial center must be
able to pay its bank balances In gold II
depositors want 1t so
paid.
Requirements of Foreign Trade.
Our advantages are not going to be
financial alone. We are going to have
a vast foreign trade. but we have got
to learn one thing, that foreign trade Is
not exclusively disposing Of something
you have got. Our necessity in becom-
ing great international trading nation
Is to find other people with goods that
we are prepared to buy. Goods must,
in the main, be paid for in goods. We
cannot go on accommodating gold or ac-
cumulating securities, and we do not
want to. We must open our markets
so that other peoples can have an op.
portunity to pay for things that they
want, else they can not buy the things
that we have.
I'VE are going to stand, If Europe
comes back, the nation which Is the
reservoir Of the worlds credit, the
storehouse Of raw material. There
never was that combination before in
history. Here we have got the great
est richness Of both and back Of that
combination, our manufacturers have
q condition that Is unmatched and
never was matched in all the world.
They have got this great HOMOGENEOUS
market Of America 106,e00,000 people
who wear the same kind Of hats, and
the same kind Of shoes, who haven't
a tariff barrier. who have no barrier.
We have got this vast market in which
we can build up mass production, as
1t cannot be built up anywhere else in
the world, and then oyerfowing from
our domestic production. we can 60
into the markets Of the world, and, I
believe, be invulnerabie.. can see no
other way.
To-day we are making steel In the
United States $50 ton cheaper than It
Is being made in England. The high
cost of coal, the high cost Of transport
tation, the advance in Rages have all
there in raising the cost OF
production. Just think Of that simple
market statement, $40 a ton cheaper
of steel in the United States
than in England.
Must Share With Labor.
81 believe these rises in wages In
England have been absolutely neces-
pary. think England's differentialin
the Industrial markets Of the world has
been under-paid labor, and believe
she has lost that differential because
she must now pay labor better. But
there is q lesson we might well taxa
home. We cannot have under-pey-
ment Of bor.lfere4 TIA. r3tl61s
that dominates the world Is going TO
be the nation that brings about harmo-
NOUS relations between capital and Ia
Dor.
IT believe the greatest question In
the world today Ii this adjustment. OF
differences between capital and labor.
It has got to be approached with an
understanding and liberalism on the
part of employers that goes further
than anything we had heretofore; but
IL 1t Is so approached. and If we can
add to these other tremendous advant-
ages that this nation has, a real under
standing between capital and LABOR
which will bring labor gratefully to Its
lob, will make labor see that produc-
ton is for labor's benefit, and the
greater the production, the greater ths
benefit, then I believe that labor can
have a greater share than ever 1t has
had, and that capital can have a great
er share too. The greatest opportunity
that America can have is to reacf that
settlement"