New-York tribune., 1919-06-05
This Country Faces Greatest
Chance in History, Banker
Declares to Big Gathering
of Merchants Association
Terms Self Real Optimist
Europe's Gloom Very Heavy,
but America Will Reap
Reward in Tightening 1t

' ' PAS'A"on' VI Iue Natlonal City
Bank, yesterday once more sketched a
gray picture of Europe almost suffocat-
ing from industrial DISCRIMINATION: but
explained he was hopeful, very hope
full, that the worst possibilities of that
picture will not be realized" He was
speaking at the last monthly meeting
OF the season of the Merchants Asso-
citation at the Hotel Astor.
Let me simply say that what I
am telling you about the European sit
uation is true but 1 believe there is
good chance to cure it, to start Europe
back toward a normal life," Mr.. Van
derlip said to 1900 merchants who had
gathered to hear his opinions about the
future of the Old World.
II think somebody ought to get this
thing started pretty soon. 1t isn't q
thing to wait about, but l believe it
can be DONE" he went on. "And then
what of America? Some people have
been calling me a pesslmist, but, if
you could share my opinion of the op-
portunity that America is going to have
in the world, the opportunity of serv-
ice, of responsibility, and of recon-
pense, you would be the most optim-
lstlc crowd of men that ever was got
together under roof
Shows Bright Side
Mr.. Vanderlip's emphasis Of the
bright side of the situation, which he
failed to touch in his speech 10 days
ago at the Economic Club meeting,
which attracted international atten-
ton, won storm of applause The
men of business who were his audi
ence warmly greeted his suggestions as
to how America could meet her new
opportunities, which Mr.. Vanderlip as
serted were greater than those ever
before possessed by any nation.
The man who just retired from lead
ership at the National City Bank de-
clared that circumstances never before
combined in such a way as they now
do to indicate the future bigness of
a country.
eve are going to stand" he in
sisted, eff Europe comes back, the ma
worlds credit, the nation which is the
storehouse of raw material. None
there never was that combination
before in history. There have
the world.
been nations like England that we're
the reservoirs of international credit,
but she lacked raw materials. Here
we have got the greatest richness of
both, and, back of that our manufac-
turers have q condition that is un-
matched and never was matched in all
"They have got this great homoge-
neous market of America-105, 100000
people, who wear the same kind of hats
and the same kind of shoes; who
haven't a tariff barrier, who have no
barrier. You have this vast market
in which you can build up mass pro-
duction as it cannot be built up any
where else in the world, and then
overflowing from your domestic pro-
duction you can go into the markets
of the world, and, believe, be in
vulnerable. | can see no other way"
Capital and Labor
And after referring again to the un-
rest of European labor and to the fact
that in every country considerable
minority" question the validity of the
existing social order, Mr.. Vanderlip
reminded his hearers that "the nation
that dominates the world is going to
be the nation that brings about har-
monious relations between capital and
labor"
Labor" he added, "is pretty clear
that it has not been having its full
share, and I was astonished to see the
agreement with that view on the part
of many of the large employers of
labor in England. Some of these en-
ployers have a vision of industrial
peace that to me is very great
vision, vision that such an under
standing can be brought about that
will enlist not only the back of labor
but the brains of labor on the job
the brains and the sentiment and good
will of labor; and I believe that we
can make a short cut to industrial
peace just as we have made a short
cut to peace that has freed us from
81 believe the greatest question in
the world to-day is this adjustment
of differences between capital and
labor. 1t has got to be approached
with an understanding and a liber-
alism on the part of employers that
go further than anything we have
had heretofore; but if it is so ap-
preached and if we can add to these
other tremendous advantages that
this nation has a real understanding
between capital and labor which will
bring labor gratefully to its job-wil
make labor see that production is for
labor's benefit, and the greater the
production the greater the benefit
then I believe labor can have a greater
share than ever it has had and capital
can have a greater share, too and that
will be the greatest opportunity
America can have if it can reach that
If Europe recovers, Mr.. Vanderlip
predicted that the financial centre of
gravity would shift from London to
New York.
'Now, all that is based on the sup
position that Europe is going to
gather herself together and start back
toward a normal life under the pres
ent capitalistic system of society" Mr..
Vanderlip added. Remember, l am
NOT c,u.o +he+ Evroon - 49,