The Arizona copper camp., 1920-01-24
&c. ". BARRON ON BUSINESS OUTLOOK FOR 1920

Il. v. BARRUN UN BUSINESS UUlLUUk FUR ly2O
Continued from last week)
The reporter next inquired as to the outlook capt.
tai and labor although the outlook for labor
good Mr. Barron replied and must be until the world fills
the empty shelves begins surplus the outlook
for capital good This the most serious aspect in the
whole situation 1t is that labor will feel time in the
future
Fortune Building Sport
For 100 years the great sport of America has been fortune
building 1t has employed the keenest minds developed the
greatest business financial and inventive talent In the old
world worked for social position honor for
position of leisure when they had passed middle
But in the United worked for dollars and
Tor millions They have thought honor
social position comparable to the for millions.
"They have acquired millions to make other millions and
worked the end of their days for mupes of Millions with
the result that they invented they built they stimulated they
consolidated they expanded and through all they bid
and more orabor They employed first ten then 1o0
then 1000 Then they delighted count their business organ
cation giving employment to tens of thousands.
Land of Opportunity
This what has United States the land of
portity Thousands of and billions of dollars bid
ding additional labor and people year
States industrial SYSTEM giving them and their children oppor
tunities they could have had in the old world
Now these millions and most of these still in the
ring They cannot get out Their millions must creating
and earning
"But while last, no mllionaires
created
every million in this country pay taxes
from 70 cent to 80 per Formerly made million
and kept nneenths of and set work make other mil
lions Now he make million and the government will take
on the of it and spend it, and little
OF will employ labor construct anything of permanent value
To-day a must make five millions to keep one
Must Reduce Taxation
Therefore the future United States looking
to years depends upon taxation
be unshaced and labor bid for and enterprises
begun after the shelves emped by the been filled
Labor with high wages and low taxes top It is
occupying the front theatres shopping counters
while the people who have been trying to live their income
have take back and their expenses
for renvestet for the promotion of enterprises
is very much reduced.
But in the end the people who will be the winners
It is great fooshness the part of
ing big today not to invest their bonds and
ferred shares, which inviting capital at higher rate of in
terest than has prevailed before in this generation
Preferred Shares Attractive
There preferred shares selling basis pay
than cent that ought to be attractive for saving
pe They invest with the certainty that they
in the end for the world does per
cent can be secured an investment only in time of and
famine when the world itself Therefore, any
who loves his children looks fortune should
and that he today big
in the future.
"Bu the whole world mad spending.
spending because has the highest it Capital
is spending because is discouraged enjoy
before the government takes all.
Discussed Business Outlook
"a short time spent the night with of the multi
mionares of New York reputed worth many tens
millions We discussed the outlook until long after midnight
He said:
1t does pay go enterprises and
have determined to enjoy the remaining years of life
have everything wan-pctures tapestries works of
greenhouses and forth My neghbor spending $000O0O
in greenhouses he not looking for invest
ments'
Il figured later that the loss of this mans energies in
srucve enterprises loss to the United States of
least $1O0O00OOO the
that the the United States puts it's mutmionaires
back into enterprises by reduced taxation the
will be the outlook for labor three to five hence
Outlook for Railroads
What is the outlook regarding the railroads" reporter
questioned.
II hesitate to discuss the railroad problem"