The Washington herald., 1919-07-11
EXPANSION ERA
AHEAD FOR U. S.
Political Partisanship Only
Bar to Growth, Says
Holland.

When asked this morning If he could
state briefly what, the 2resen5-d:ty sit
uation is. and what the outlook for
the future seems to him to be. Jnc OF
the ablest minds in tie New York
financial district. after considering
for a moment what he should say, re-
Piled in these words:
The year 1919 is to be a time of I'M
exampled reconstruction and OF Iead-
justment. These influences will con-
tinue throughout the year. In $50
and beginning early m that year. there
viii be demonstrated the beginning of
= what should be and what can be an
era of very great expansion. This
will continue for several years. l dare
not make a prediction which would
limit the time of the LIE of this ex-
pansion movement 1t may and should
last for several years.
The only thing which will. stand In
the way will be political interference.
an attempt at Washington and else
where to make use Of these new con-
ditions for partisan political purposes,
and when I say partisan. / do not
confine that term to either one o. the
two parties. If both political parties
forget partisanship aid give thsir
moral and as far as possible legisla-
tive support to the impulses which
wsll lead to great expansion, then we
shall have that expansion and the
world. believe, will stand looking on
in amazemcnt"
The man who thus summarized con-
ditions as he now understands them
has long been esteemed one of the
greatest intellectual forces in the
world of finance and OF business in the
United states. He Is no longer in &C
tive life, but he Is a careful observer
and Is able by reason Of his expert
ence which reaches BACK forty years
to compare conditions as they now are
with those which have prevailed in
the past. especially at times when the
United States was entering upon a
new era of prosperity.
Ii Would BE n Mistake.
lust at this time many en6eavors
are under way which. as whole,
cover the entire country and which
1--we for their purpose the facilitating
by Tie aid of the United States of re-
construction and readjustment There
does seem. however. to be apprehen-
sion that the disposition OF some men
whose vocation is solely partisan poli-
tics is 10 take such an advantage of
conditions as may in their opinion
help their party.
It was said this morning ttsat if the
leaders in two of the greatest indus
trial organize tons in the United
States we're asked of 4 sudden to IN
crease their working force. to enlarge
their plants and to prepare for an
output 20CO times greater than their
present output. these leaders, one of
them in the mana gemert of the
I-Eited States Steel COropration.
would find themselves in the same
situation in which the Federal gov
crument was placed Immediately
after the United States entered the
war. History will record in detail the
anna zinc swiftnesS and success with
which the United States goyernplent
called upon the nation to furnish an
army which might reach millions and
to SECURE sufficient shipping facili-
ties to transport the army across the
sea 1t was inevitable that there
should be son'e mistakes. Haste was
vital There was to be no oppoT-
fInity for long continued negotiations
with the industrial leaders. with thu
shipbuiIders or with the growers and
puryeyors Of food. 1t was necessary
that these thir-s be done upon the
Instant, and il was inevitable there
fore that there should be some sX-
trava gance and perhaps many mis-
takes
Now il some attempt were to be
made by politicians to take advan-
tage of mistakes and extrava ganCes.
then what really would De a false
ISSUE harmful 10 expansion might be
raised. OF course no ono doubts the
propriety Of such Investigations as
might reveal action which involved
dishonesty or other criminal conduct.
What Congress should Do.
What should he done in ;he view of
the financial and industrial leaders
&C present day conditions and the flu
ture so that the people of the United
states who are manifestly ready to
I'D i'm bringing about the wonderful
era of expansion and prosperity which
should be well underway in 1890, is
not to attempt to take pa artisan adj
vantage of conditions. but instead to
give whoIe-hearted support. reason
able and just 10 whatever efforts the
american business men. .he men Of
finance and the others arc making i'm
order to establish reconstruction and
to perfect readjustment
There seems to be some apprehen-
sion lest politics may interfere and
politics not confined to one party but
reflected by the partisan political lead
ers WHO may Try 10 utlllze 10 partisan
advantage the plan which is now un-
DER careful consideration by mems of
which ali of the resources of the
United states Industrial. commercial.
agricultural and merchandising may
ne so modified as to result in d per-
fec organization whereby the needs
of Europe can BE- speedily, adequately
and safely met. Bankers are holding
meetings every day both in this city
and in Chicago for the purpose of con-
sidering this plan.
Industrial leaders are now asso-
ciated with it and are giving it hearty
support. 1t may take some weeks
even two or three months to perfect