The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-06-05
VANDERBILT. SEES
AMERICA DOMINANT
First Nation to Be Both FL
nancial Centre and Raw
Material Storehouse.
SAYS EUROPE MUST WORK
Warns Employers They Must
Display Unstinted Liberalism
to Settle Labor Problem.

While In no way attempting to modify
the impression created by his speech Of
a week ago before the Economic Club
in II he portrayed economit con-
ditions In England and Europe IN set
ting so alarmingly pessimistic as to
create much comment and dbubt in
financial circles Frank A. vanderlip,
who resigned on Tuesday nom the
presidency Of the National Oty Bank,
turned the canvas around. and in a
speech on Americas Opportunity at
a luncheon OF the Merchants Associa-
ton at the Hotel Aston yesterday ex-
pressed not only the hope Tut the belief
that a rehabilitation Of Industry would
follow in Europe and fhat America
would play big part IN that work
Mr.. vander1ip was the chief speaker
at the luncheon. which, unless develop
ments necessitate q change OF plan, will
be the last Of the season and his ad-
dress was heard by about 1900 mem
bers. The only other speaker was Dr.
David 2. T. Yui, who n 1918 was score
tary OF the Chinese National Board of
Trade that visited America. DR.. Yui
spoke with considerable feeling about
the attempts on tn part of certain peo-
ple--he did not melton Japan by name
to obstruct political and economic re-
form in China, and made an urgent
plea for assistance from America, which
no described as the best friend China
has, to bring about the moral awaken
ing necessary IL the Chinese Republic.
Denie, He's Pessin,i.t.
At the o,tset Mr.. vanderlip dis
claimed any and every suggestion that
no was a psssimist. He predicted that
America was soon to become the finan-
oial centre o. the world and pointed out
that for tho first time in history one
nation was at once the reservoir OF
worlds credits and the storehouse of
raw material. He believed, he said, that
America could make a short cut to In
dustrial peace, the same as she made a
short cat to a military peace, but he
added that the problem of an adjust
ment Between capital and labor had to
be approached with a liberalism on the
part q employers that must 20 further
than anything that has been seen here
tofore The nation that 10 to dominate
the world. he said. will be the nation
that first effects harmonious relations
between capital and labor. Mr.. Van
derlb said in part:
II am glad to follow what I have AL
rea6y said by something further in re-
gard TO what the European situation
means to us; but I am warned that
/ Mould not pass over entirely the pic
tue that have already painted. There
nay be some of you familiar with II
~ Is dark picture. 1t Is one that 1
c!nnot change from what I have said
1t before, and while want to speak
. you along the more hopeful, the more
obstructive lines of our possible relation
20 this situation I will, in Difference
10 what your chairman has suggested,
say just word about the original pic
jture Of what has happened TO Europe
Il believe hurt has come to Eu-
rope that may be greater than any hurt
that Is measured by the obstruction that
war has wrought directly, a hurt that
might be more terrible than the hurt
of wac In its toll OF life, and that hurt
Is the Reorganization OF the whole in
dustrial machine of the Continent of
Europe. and In a lesser degree of Eng
land.
THE disorganization of that indus
trial machine is astoundingly complete.
l am not speaking of the destruction
across northern France and Belgium
that. Of course, you know, is disor-
ganized in n way that will at the very
best take some years to rehabilitate,
but in those districts where factories are
unframed, where you might anticipate
that there were now admirable labor
conditions, certainly you might well sup
for the things that those factories could
produce. still you ind idleness. closed
factories, disorganization.
And flowing out OF that lack Of pro-
duction, out of the idleness and want
and the hunger. there may come forces
more terrible than the war itself. Now.
/ do not minimize that possibility one
whit when l turn later to look at a
more cheerful side OF the situation. That
picture of grave danger TO the fabric
OF civilization of Europe is a true pic
ture. 1 am hopeful, very hopeful, that
the worst possibilities OF that picture
will not be realized.
There are SO many things that I would
like to take up. that hardly know
where to begin: but 1 want to leave
this dark side OF 1t in Just moment.
But to grasp that side / must empha-
size one point in your mind, and that Is
the point OF the vast influence of Europe
under the sway OF the Industrial system
that has been built up In, say. the last
sixty or seventy years. All Europe is
IA great manufacturing community. Very
few OF the countries OF Europe are self
sustaining so far as their agricultural
production is concerned. Europe must
operate its factories II Europe Is to live.
Now. get that into your minds.
Europe Must Get Busy Again.
Factory production must be started
Europe can save herself only by going
TO work. And Europe is idle to terrible
degree at the present time. Europe must
go to work, must start producing. and
she is going to need help to do 1t; and
the main duty and burden of giving her
help will lie with US. Some other nations
can help. In the main we must give
Europe credit, not credit TO rehabilitate
her treasures, which are very empty
but credit to rehabilitate her manufac-
lures credit In the form OF raw mate
rails. of machinery, Of certain amount
OF food. of equipment for her railroads
That is the great need. That ID
what must be furnished before Europe
can 20 to work, and unless Europe goes
to work very promptly. Europe Is going
into trouble that Is deeper than any
thing she has had.
"But this isn't speaking Of Americas
opportunity. Let me simply say that
what / am telling you Is true about the
European situation. but believe 'iisia
Is a good chance to cure Il. to start Eu-
rope back toward a normal life. think
somebody ought TO get this thing started
pretty soon. 1t isn't a thing to wait
about, but believe 1t can be done. and
let us suppose 1t can be done. Ana theh
what OF America?
Some people have been calling me
pessimist. but II you could share my
opinion OF the opportunity that America
IL going to have in the world-the oppor-
tunity OF service, OF responsibility and
of recompense-if you could share my
opinion you would be the most optimistic
crowd OF men that ever was got together
under a roof.