Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1919-01-01
HIGHEST OPTIMISM
AT THE CAPITOL
Official Washington Thinks
Country Stronger Than
at Beginning of War
PROSPERITY PREDICTED

COPYRIGHT, 1913. Ncic York EroHino Post. lac.
Washington. Jan. 1. -- Although the
country faces a multitude OF questions of
readJustment still unsolvcd. the almost
universal view of official Washington is
! that the future holds for American bust
ness nothing to cause other than a feel
ing or the highest optimism.
The sentiment, 1t Is hardly necessary
10 say, is in large measure reflect ion
OF the views expressed by the great semi
oihcial body of business men, who for the
Iast year and half have served the
Government as volunteer executives at
~ a year remuneration. These men,
returning now in large numbers TO their
own enterprises, are taking with them
impressions gained by study of the larger
phases cf industry. Their contacts have
Deen both national and international. and
thelr opinion is that the United States
emerges from the war stronger and in
duStrially more resourceful by far than
IL was when the country took up arms.
For the prediction that the longer
future promises unprecedented business
prosperity in the United States. the two
chief reasons given are these: First. In
moDiiZing for war American industry
has demonstrated that production can
De multiplied under proper methods of
industrial cooperation. Second. Stocks
nave been depleted to such an extent
that there already is an enormous de-
mand for materials, despite an apparent
holding back on the part of some pur-
rhasers. who look for reduction in prices
The Two Elements Of Hope
There are numerous other factors. but
these two stand out in the judgment of
washington, as the controlling influences
today. Since they are permanent factors
more or less, officials who have studied
the questions involved hold the belief
that the resultant conditions will ex-
tend over long period of time. There
Is some feeling that readjustments in
prices and in other matters may cause
disturbances at first. But II is also held
that as the machinery of business gets
under way, even prices and labor condi-
tions will steady themselves.
The demand for goods will be great,
Washington believes, and it will come
not only from the American purchaser
but from abroad as we'll While indus
try during the last year delivered its
output in increasingly large amounts to
the Government. ordinary stocks of mer-
chandise dwindled until today the man
who buys is hard put to it for goods.
This demand, which has had no outlet.
'"h' III lnc btlltI OF OllClalS, De counted
on to keep prices up for a long time
to come. 1t is probable that if enough
buyers hold off in sufficient numbers,
waiting for drop in prices, then prices
Will fall to greater or less extent. But,
on the other hand. there will be such a
rush to buy in case prices go to a sub
stantially lower level that the effect
would be to cause recovery Immediately,
and that there they would remain. As
to Government price restrictions"
those, except very few, have to do with
maximum prices only.
This view is strengthened by the at
titude many large corporations are as
suming toward their labor. Officials
look for high wages to continue, except
perhaps for unskilled labor. and even this
class of labor, they believe, will con-
tinuc to get more than in previous times
of peace. II will be some time before
the army any navy are dcmobilized The
tide of immigration, If II ever assumes
its former proportions. will start slowly.
Nobody in Washington looks for a large
scale of unemployment. In normal
times building operations and the indus
tries that supply building materials
take up a large part of the labor slack
There has been little building in the
United States lately except for Govern
ment account, and with the coming of
spring a great amount of building is
looked for.
Our Foreign Trade in the Future
Nobody knows what the foreign de-
mand for goods will be, but Washing