New-York tribune., 1919-02-12
Statesmen Urged to
Launch Campaign
Against Pessimisnn
Banker Says There Is Moth
ing Disturbing in Situa-
ton and Calls for Move
ment to Knock Out Doubt

Conditions in this country are pro-
pitious for the successful launching Of
a national campaign to sell the idea of
prosperity to the whole nation, G. A.
O'Reilly, foreign trade representative
of the Irving National Bank, declared
last night in addressing large gather
ing of men who make and sell silks.
The occasion was the annual banquet
Of the Silk Travellers Association,
held at the Commodore Hotel.
Manufacturers, distributors and bank
crs must join with statesmen. the
speaker said, in knocking out restrain
ing doubts and fears, which tcnd to
prevent business from taking the wa
tcrs for a long and prosperous voyage.
No Cause for Concern
"Thcrc is nothing in this situation
with which we are confronted" said
Mr.. O'Reilly, (which need give us Sc
rious concern, assuming that our pow
er of realization is properly awakened
and that we bring to bear upon our
ity we possess. TO a very considerable
extent the situation is rather normal.
With the exception of government
holdings there are no surplus stocks
which need be taken seriously. Our
productive possibilities are higher than
ever before. National wealth and ma
tional credit have been referred to as
ineXhaustblc. The buying power of
our people also is at a wonderfully high
point. The war has done wonders in
the distribution of wealth. The percent
age of our total population able to
purchase freely, eXtravagantly if they
SO desire, has been increased wonder
fully.
"On the whole, there is nothing in
the case to worry about, assuming,
again, that we realize the seriousness
of the few problems which do confront
us and act upon them with sufficient
promptncss. Even the labor problem
is not without its favorable possibili-
ties
"The otfhand statement VIC so fire.
Quently encounter TO the effect that
labor and capital must get together
and must realize that their interests
and sponsibilities in the situation,
after all, are Identical and mutual will
not get us anywhere in the immediate
solution of this problem. This point
of view is commendable and the theory
sound, but more time will be required
in getting labor and capital to realize
the mutuality of their interests than
is consistent with the demands of the
situation we are considering UnSor-
tunately, but certainly, labor and cap
ital speak different languages at the
present time, and they are going to
continue to labor under this disadvan-
tage until time has had chance to ac-
compllsh the seeming miracle.
Keep Labor Happy
"Just now, and for immediate pur-
poses, which are what we must con-
slider, the way to avert a labor crisis
is to keep labor happy to keep it en-
ployed, to keep the bread line out of
the situation. The fact is that the wage
scale is high and that any effort to
lower it within weeks or months al
most certainly will precipitate a situa-
tion which would be but poorly suited
to the theory of an after the war pros
perity."
If the factories and workshops of
the nation are to be kept open, if q
labor crisis is to be averted the great
purchasing capacity Of the American
people must be stimulated beyond its
present volume, the speaker asserted
"It is furthest from my intention" >"
he continued, "to recommend a national
policy of extravaganza, furthest from
my intention to minimize the impor-
tance of thrift and economy and con-
servation in a normal national policy,
but present conditions are not normal,
and until they are placed upon a rea-
sonably normal basis, and while we
tional emergency, special expedients
very consistently may be resorted to-
Tim Healy, president of the assoca-
tion, in welcoming the members and
their guests referred to General Per
shing and his troops as "the greatest
body of travelling men the world has
ever seen"