Great Falls daily tribune. [volume] (Great Falls, Mont.) 1895-1921, 1920-05-13
1000 Meeting at Frisco
Feel Pulse of Chaos in
Industry and Suggest
Remedies Required.
Trans-Pacific Captain
Foresees International
Commercial Cente
Shifting to Coast.

San Francisco, May 12-The world $
pocketbook was examined Wednesday by
more than 1900 financial and trade ex-
perts in the opening session of the
seventh annual foreign trade convention.
The first of the four days of discus
sion revealed that internationally known
leaders of world commerce find many
thingl within this pocketboow which
may fall to the lot of Americans. but
the speakers agreed that two courses
are plain, one leading to business re-
verses, low wages panic and stagna-
tion. and the other to prosperity. prog
ress and security for the business man
and the worker.
Farrell Sees More Trade Ahead.
Increased foreign trade, increased i'm
ports as well as exports. form the key
to prosperity, said James A. Farrell.
president of the United States steel cor
poration and chairman of the national
foreign trade council, in opening the con-
yentiOn.
A period of depression with lower
wages. but not panic or crisis, was
forecast by Fred j.. Lipman, San Fran
cisco banker. in discussing the inflated
financial situation. Foreign trade, he
said is in the position that exports can
be best stimulated through encouraging
imports.
Government W aste Scored.
Governmental waste BY every nation
was scored by Fred i. Kent. New York
banker and member of the financial COM
mittee of the inter-allied reparations
commission. He asserted that no gov
ernment in the world has since the war
returned to orderly operations. These
things. with the millions of hours of labor
lost through the chaotic labor conditions
provoked by agitators. he said were
fundamental causes of the high cost Of
living throughout the world. Foreign
exchange. he said would not be stabilized
until railways. shipping, building con-
struction and all lines of industry inter
rupted by the war were returned to nor
NAL conditions, and that stabilized. order
ly conditions with a maximum of eff
cheney and devoting full energy TO work
were necessary for this.
Nations in DeIirium.
Mental de1irium has been famed into
greater flame instead of being allowed
to cool down." said Kent. In no coun-
try in the world has orderly government
been restored he said "In some coun-
tries there is merely a disorderly state
of mind, while in others it extended
TO an Orgy OF UlIEueE- VI
of labor have been lost since the war
ended. Government waste must end.
There is a veritable maelstrom of gov
ernment commissions and agencies, all
resulting in waste. Provisional agitat-
ors of the dishonest things are the
worlds worst enemy. These agitators
must be suppressed.
All Fight Interests of Labor.
''The individual laborer, or laboring
man is in no way to blame. He faces the
same problems that we do. Others
strike against him and he strikes against
them. The whole labor world is fighting
against the interests of the labor man.
CLEARLY we can see the great strain
on bank credits"
Captain Robert Dollar. of San Fran
cisco. veteran of trans-Pacific trade, in
welcoming the delegates, told Of op
portunities in the Pacific. where more
than a billion people. half the world
population, were awaiting development
of commerce. He predicted removal Of
the world center of trade from the
Atlantic to the Pacific within a genera
tion.