The Birmingham age-herald., 1921-05-26

are being so rapidly stabilized that he is certain that 1t Is safe to predict that they will become normal. not normal as the term was understood before the war, but normal in sympathy with the vastly changed conditions consequent upon the war, He ventured to predict that stabilization of this kind will have been completed in about two years. MT. Hoover's assertion has been com pared with others recently made. For instance. the Secretary O. the Treasury, MT. Mellon, is reported to have sald that he looks for a. return to prosperity before the hot weather has passed, and Is persuaded that for two or three years We should have prosperity for which there is no precedent, excepting the fever stimulation, unhealthy and temporary, which the war occasioned.
 THE OPEN DOOR
 MT Hoover also insisted that it should be the policy of this government to maintain the open door as far as that is possible in our trade relations with other countries. Evidently he does not believe in very hign tariff. Certainly he does believe that if other nations put restraining hand upon the United States. as some of them are now doing with respect to oil fields. then 1t should be the policy of this country to make suitable reprisals. The open door, he believes, is the permanent and safe way of maintaining satisfactory trade relations.
 Some years ago, when representatives of six nations, including the United States, met at Paris for the purpose of agreeing upon a joint loan of many millions to China, there sat at the head of the table in the room where the ses sions were held, an American citizen. He was Henry P Davison, and he said at the beginning of the sessions that there were two things which the United States would insist upon, if this coun- try was to join the other five in mak ing the loan to China. One was the open door. No nation should be fla vored by China at the expense of any other nation. The other condition was that no one of the six nations should attempt to impair the sovereignty of China by securing land in any part of China. The open door was then estab- lished as the American policy. It was accepted by the representatives of the six nations. It is precisely the open door policy which Secretary Hoover now advocates In a few words in one part of his address to the American iS hS Sct LOi LII luo can policy which is the open door to all who also maintain the open door. but reprisal in case any one of the other nations close the door of oppor- tunity and development to the United States. This address will rpobably be published and will have wide clrcula- tion.
 SCHWAB FURNISHES FINE TEST
 When MT. Schwab speaks the words which he utters are almost always CO., incident with action. He speaks optim- ism without fail and he has again dem onstrated the perfection of his optim- istic faith. Before the war MT Schwab purposed the establishment of a very large plant at Sparrows Point on the Chesapeake. near Baltimore. He en- tered into contract with ship builders for the construction of several steam CTS so built as conveniently and eco- nomically to carry ore to Sparrows Point from the very rich Chilean mines for the operation of which MT. Schwab had secured a concession.
 The war interrupted the carrying out of these plans. Now in this time, when confidence is especially needed. MT. Schwab reveals his own confidence. He is greatly to enlarge for his company the plant at Sparrows Point, and Is to invest at least $25.ooo,o 900 in the per- fecting of this plant. He will employ 25,o00,00o men. When the work Is com plcted and when the oil and ore ves-