Pine Bluff daily graphic., 1919-02-26
RESUMPTION OF
 BUILDING URGED
 BY U. 5. SENATOR
Is Proper Way To Stimulate Business He Tells
 Convention.

in Baltimore, Md, recently, urged the resumption of building activities throughout the country as the proper way to stimulate business. The New York Senator emphasized the sound- ness of America and the certain pros perity ahead, submitting there is no good reason why builders should re- frain from getting projects under way immediately. On the building and busi- ness situation, Senator Calder said:
 '"The building industry is one of the most important in the Nation. 1t al- ways seemed to me that it was really the most important for it has to do with the construction of homes in which our people live, the places of business in which men and women are offered an opportunity to learn a livelihood, and then too, our public buildings, churches, great art galler- ies and great institutions of learning and places of amusement. 1t always seemed to me that it was fundamen- tai business and the men who were en- gagged in it came only after those who till and soil and produce the things that keep people alive.
 "You are now met with the prob lem of whether one can afford to build under present prices. My own opinion is that. prices will never return to, where they were before, and, while there is bound to be period of re- construction serious to your trade, and ingenuity of the American builder is such that, he can, by substituting materials that will answer the same purpose, obtain a lower price, and make up, to a. certain extent, the diff ference in increased costs.
 "There is real demand today for housing all over the country, and if were to offer advice it would be to urge builders to watch their oppor- tunities and be prepared to take ad-a vantage of them when they are pres ented.
 Pessimism Shown.
 q presume you would like to have me discuss with you the great prob lems that are confronting the Gov ernment at Washington. The United States entered this war for the pur- pose of saving popular government from destruction. We have been suc-. cessful, but in the great preparation we were compelled to disrupt our en- tire business fabric. Today we hear on every hand the suggestion that we take account of stock and then wait until things become normal again. If by that is meant that we should re- frain from business activity until the return of conditions that prevailed previous to the war, then indeed, in my judgment we will never begin. If I judge aright, our people today are inclined to pessimisn. We have just passed Revenue measure which will require the people of this country to pay into the United States Treasury the sum total of $6,000, ,00O, ,O00. The Secretary of the Treasury has asked Congress to authorize the issuance of bonds totaling $10,O00, ,000, 900. This tax bill and bond issue have caused great uneasiness, and because of these two great drains upon our exchequer, men are afraid to enter into new ven- lures. The extraordinary high cost of everything today has also led to great timidity.
 Ut would be absurd for me to sug- gest that there is no cause for appre- hension. The profits of war made a few men rich, but as the result of the war, business necessarily suffers and after such great war as we have just come out of, there is bound to be q readjustment of affairs.
 Resume Business.
 '.It seems to me, however, at this it would be we'll to recall the stirring words of John Sherman, when, while he was Secretary of the Treasury, he was asked concerning resumption of specie payment, he replied: The way to resume is to resume I say to this audience, the way to establish busi- ness confidence again is to resume business.
 [ Ut is estimated that the financial resources of our insurance companies, /, savings banks and other institutions have accumulated during the last !, four years to the extent of $4,50O,- , OOO, 900 It is also estimated that the plant of the country required this amount to put it in efficient working condition and to rearrange it for eff 1 cient peace production.
 "The Nation should immediately in- tcrest itself in the investment of it's labor and surplus capital in the basic industry of construction, because ev- cry dollar and every hour of labor :, thus invested has earning power and will ultimately cheapen the cost of production of commodities.
 "This problem will be met if public interest is centered upon tiff the people as a whole cannot solve this. i problem, no committee or officials of the people can settle it. i "Whilc we are thinking of foreign trade, we must not forget our oppor- !, tuintics at home.
 Tt is estimated tbat the wealth of the Nation is two hundred and six ty-five billion dollars, greater than the wealth of four of the wealthiest nations of the world.
 Ut is also estimated that nearly three-fourths of the tools of the in-. dustry of the world are here.
 vs.l.