The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1920-01-03
BUSINESS OUT
LOOK FOR YEAR
World Commerce Promises to
Be Immense in Volume

Washington, Dec. 81 (By the Asso-
ciated Press) Secretary Alexander Of
the department OF commerce sums up
the commercial outlook for the year
1920 as follows.
1.-THE closing year witnesses a fabu-
lous growth Of American foreign com
merce. far beyond the dreams Of bus
mess men five years ago. Our trade
balance for the year 1919 will be
approximately $4,000, 100000. A great
feet Of merchant ships, new indus
tries, new sources Of supply and in
creased knowledge Of our own re-
sources are some Of the assets gained
from our war experience with which
we are fortified to meet new condi-
tons Before the war we were engas-
ed for the most part in the develop
ment Of our own business, with little
serious thought of extension Of our
activities into world markets, and we
were too Indifferent as regards our
position Of inferiority on the high seas.
Today we are awake as never before.
The pride Of ante-bellum days is re-
vived and we look to see our flag at
the masthead Of an American mer-
chant ship in every important seaport
of the world, carrying American goods
wherever markets may be found.
abnormal conditions, we hope, are
passing. The tremendous increase IN
the exports OF war period made >up
largely Of military supplies, and the
still greater exports Of the months
following the war, in which food
stufTs figure largely may not continue
indefinitely. These tremendous figures
have brought satisfaction to all but
give grave concern to those who look
forward to conditions in 1920. The
exchange situation in Europe is a
grave problem and is so uncomfortable
for foreign buyers as. to necessitate in
some cases government restriction on
buying. The tendency is to limit pur-
chases to necessities. If we would
continue our foreign trade at its pres
ent high level there must be a freer
and fuller exchange Of commodities
and a very large extension OF credit
to European buyers. Let us look for
the return Of normal conditions in
which buying and selling will be OF
benefit and profit to both sides. On
that basis we may build commercial
structure which will result in a firm
foundation.
It is too nsnrh 10 expect that norm
al conditions for which we are so i'm
patient sncuad4 come within the "A
months since the signing OF the armis-
tice. The wonder is that the situa-
ton is not more unsettled. Existing
conditions are not unlike those fol-
lowing other wars, only the problems
are Of greater proportions and more
complex. Our domestic situation is not
free from difficulty. Let us hope that
in the year 1920 there will be less So
ciar unrest; that production will in
crease, and living cost be gradually
reduced and that by intelligent cooper
ation and unselfish regard for the
public welfare our national prosperity
may continue"
Washington, Dec. 81 (By the Asso-
ciated Press Samuel Gompers.
president of the American Federation
of Labor, in a New Year statement,
pledges Americas workers to do
their full share in working out the
country's problems in 1920. Mr..
Gompers said:
( Americas workers stand ready in
the new year as in the past to do
their full duty as American citizens.
We have always placed our obliga--
tons as citizens above all else. AS
citizens we are true to the American
ideal of equal opportunity for all.
THE great struggle Of labor iH the
past has been to assure to workers. in
their industrial relations the rights OF
free citizens. We have fought to give
the ideal Of America dominating in
fuence in shops and factories. Our
militant struggle has won general rec
ognition for our demands. But our
work is not all militant. We are IN
q position to contribute to the i'm
provemen+ Of production processes
and organization.
The immediate problem Of the
world is to develop production or
ganization that will benefit directly
those who are the real producers and
will also serve the needs Of starving
nations.
This is a big job, but it is essential
for well grounded development in the
years 70 come It is essential to that
ideal which is America-equal op-
portunity for all Americas workers
will do their full share in working
out all our country's problems. Hail
to the New Year 1920!' May it bring
freedom, glory, and happiness to al!
our people