Evening journal., 1919-02-13
REDFIELD Sees
ROSY PROSPECTS
Secretary Expects Dawn ol
American Prosperity in
Few Months
SAYS The BOLSHEVIST
is BUSY THESE DAYS

NEW YORK, Feb. i3-''The M@ chant
and Reconstruction" was the theme OF
the address OF William C. Reaheld
Secretary or Commerce. at the banquet
OF the National Retail D.y Goods AS
ISOLATION last night After an eloquent
tribute 10 the memory Of Lincoln ap-
propr ate 10 the day, he said:
when the war ended there we're GER
tain among US who seemed TO think al
hat America had TO do was TO go forth
into The world conquerlng and 10 con-
quer to take up again the thread OF
/ our business life separate from olher
nations, free from external problems
our purposes ooncent aled again upon
profit, seeking our own gain, forgetting
alike the lessons OF the war and the
past and regarding only the chances OF
the present and future.
1T d not take long, however TO hnd
that this could not be. The new days
were not as The old ones. The new OPP
pos:un ties we've not like those that had
been There were new duties, strange
environments We could not be a law
unto ourselves any more. We had grave
obligations 10 others that must be met
We had become In a sense our brothers
keepers. we must not cease TO be so.
We found that the thoughts and the
methods OF former days had passed
away and that we held a new place 10
/ the world.
"Our own economic structure has not
been shaken as severely as that OF the
nations associated with US In the war
but there is quite sufficient for us 70
do 10 set our own house In order we
are In a period OF business hesitation
A certain amount OF unemployment la
normal 10 this season Of the year when
outdoor work Of all kinds is In me
northern States almost impossible To
kthis the prevailing stagnat'on OF IN
dustry contributes and The return OF
thousands Of troops Is a third factor In
The problem.
.Tnemploymeni Is here, not upon
such a scale as we saw IN the bad WIN
Ter OF i9O7-l9Os. but enough TO make II
subject for serious thought because
The enemies OF society are taking ad-
vantage OF Il In our midst to teach
their dangerous doctrines. The Boishe-
visit is vusy and fnds a fertile sol
for his teachings In the anarchy OF
mind. which as one OF my associates
/ has said, arises naturally from ar
empty stomach. Strangely enough, thl.
stuatlop of unemployment is accom-
panied by strikes, so that 10 invoiun
tary unemployment there is added h
voluntary kind.
1.-TWO ways Of dealing with the stu
alton are proposed-one from the tol
down. the other from the bottom up
All commerce rests on individual pur
chases. The great, imposing fabric o
our Industry stands upon the basis o
what Is bought by the individuals com
posing the nation. III every one stop
ned buying there would be no com
merce and industry. To the extent tne'
stop buying, commerce and indusu!
slacken.
"The suggestion has gone forth that
while we must save for taxes, for wal
loans and because, most Important N Nol
all we must not lose the habit Of thriil
the war has taught us, still there are
necessities that every one must ron
| time 10 time have. 10 would be well u
/ these necessities were bought at once
for every such purchase contributes 70
the demand for goods and so to the
demand for making goods and so 70 the
demand for labor.
1T cannot be expected that prices
shall fall soon 10 their pre-war level.
Too much has been destroyed both OF
merchandise and productive equipment
10 make that possible. There is great
vacuum 10 be nlled The buying world
In many countries has been econimiz'ng
sternly for some years past, and when
once they get confidence that a reason
able price basis has been reached they
will come into the market in such a
way as 10 sustain prices and possibly,
raise them. Every one agrees that this
great. latent business demand Is here,
ready and waiting. The greater the
need. therefore, for using every efort
10 bring It into active effect as soon
as possible.
"The condition OF the country is
sound. The number OF failures Is small.
The bank resources were never larger
or more liduid America stands firmly
on her feet without fear OF the future
We have a great loan to face and heavy
taxes 10 pay, but we shall meet them
fearlessly and successfully, and in a
few months shall find that our faces
are turned toward a bright and pros
porous future
The only action taken by the Ma
tlonal Retail Dry Goods Association In
convention yesterday was adont'on OF 8
resolution for the repeal OF luxury-ta,
amendment known as section No. 90l
Of the revenue bill. In this resolu-
ton il was pointed out that the returns
from such tax would be negligible 4
enforced but the act would be gross
discrimination and would likelv be ron.
duclve TO economic and social disturb
ances.