Omaha daily bee., 1921-07-18
Hoover Sure of
Improvement in
Foreign Trade,
Says Business With Other Ma.
tions Should Be Enlarged
AS Production of Coun.
try Increases.
By HOLLAND.

Herbert Hoover has again spoken
encouragingly of the outlook and IN
that he is in some measure supported
by Elisha Lee, who is vice president
Of the Pennsylvania Railroad conf
pany Some time ago Mr.. Hoover
said that he is persuaded that de-
preston is in part at least ended and
improvement has begun. He meant
that fundamentally conditions are
being stabilized and he was encour-
aged in the belief that within two
years stabilization will have becif
completed.
He is not alone among cabinet
members in the view that change
has come, which, although slight,
gives promise of the dawn of bet
ter things. The State department,
which found itself almost over
whelmed with diplomatic difficulties,
which covered as whole almost all
of the world, is gradually overcom-
ing these difficulties. The Treasury
department has reason for hoping
that enormous and difficult problems
which were upon the desk of Sec
retary Mellon when he took Office
are in the course of solution. Mr..
Hoover's department is gaining.
Corner Hns Bcen Turned.
Mr.. Hoover said to the delegates to
tho national shoe and leather exposition.
who were in session a few days ago, that
the corner of depression has been turned.
He felt encouraged by the promise of Inn
provement in our foreign trade. Mr..
distinguished banker of the west. believe
that too much attention has been giveR
to our foreign trade and too little to ouS1
domestic trade. He Is apparently In
dent of the United States Steel corpora
tion. whose long experience in developing
export trade was sufficient to justify him
IN saying that of our entire industrial and
sumed at home. and II production is
pushed to its capacity then there would
remain 20 per cent of surplus products
and upon this surplus our profitable world
the opinion that as our production in-
creases, as 1t should increase. our foreign
trade should also be enlarged. Already
purchases by foreigners of our foodstuffs
and some OF our raw materials are
ceeding or promise to exceed like pur-
chases which were made in the United
States for several years before tn Euro
pan war began.
Dhn&eT OF SOmpetll1Ons
On the other hand we are IN some dan
ger Of successful competition made by
European countries and especially by
Germany in the markets Of the world
where manufactured products are sold.
He speaks OF the improved condition in
Europe of which there Is no longer any
doubt. This will make 1t possible for
Europe and for the next year or two.
Germany especially, to buy cotton and
copper and some other raw materials In
very large amounts. European manufac-
turers he says, are discovering that tns
markets of the entire world are larger or
speedily will be larger than they were
before the war.
Vice President Lee Of the Pennsylvania
Railroad company Is persuaded that signs
are not wanting that the corner has been
turned He believes that railway man
ayers as well as industrial leaders are =.
beginning to discover the appearance Of"
daylight Evidently Mr. Lee has been
closely following public statements Of
Secretary Hoover. In fact he speaks of
Mr.. Hoover as "a pess,,nistic optimist'
and he illustrated this paradoxical de-
Hoover anticipates sunshine when he goes
abroad. nevertheless he always takes with
him his raincoat and his umbrella.
Politician of High Order.
Here then we have a politician Of high
order who is also very practical man
and an experienced railway operator who
is no politician, speaking a like thought.
not over-optimistic. but encouragins:
When Mr.. Hoover says that the corner OF
depression has passed and when Vice
President Lee says that he cannot help
feeling that signs are not wanting that
the corner has been turned and daylight
begins to appear. then 1t Is made appar-
ent that able men in public life and In
railway operation are now thinking alike
upon the conditions