New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-01-09
You Can't Kill
u. s. Business.
Says Erskine
Striking Message, of Sane
Optimism Is Given bv
the President of the
Studebaker Corporation
Industry Is Recovering
Those in Automobile Line
Have Confidence in Flu
ture of Car Production
By A. (. Erskinr


fFeS'oent' Stwebcker Corporation
American business has been UNDER e
major operatio@. bIt IS row off the
operating tabk. and back in tie con
7alescent War1. In the language Of
the street, u was some operstior."
ana IN the language of the doctors. Che
operation WAS pronounced ~ success
even tno1gh the patient lived. Wiz,
curtalinEnt Of credit, enforced liqui~
oatlon' failing prices and suspended
oeman'k, II was indeed q sick pati..nt for
Six months, but you cannot Kill Anier;.
can business, which IS big enouch to
snafEe economic conditions when
pache with the natural resources Il
VnZ marvelously endowed country.
with our great crops, unlimited
mlherai resources. big merchant
marine, and TOO, 600 900 intelligent. IN
geaious people, America can and
should be prosperous in spite of world
CONDITIONS Everybody was plunginr
ana reckless the year and a half fol,
loving the END OF the war. and us
were due for a tumble, but now that
we have had 1t, business car soil.
down and prosper on the iower and
,heaitnlef level Of values that ha,.
peen estaoiished BY liquidation. r..
1orced liquidation ans speculation
HaYe' IN many eases, driven prices be
!o" values End costs q ~o~ojnctin,
When such extremes arr reae5a1
returns. S''"i-
What we need is = Qualification ~
prices AZ valuation levels. esDeoisliv
loI farm products, whicr already IRA
'elo" cost OF production. and : return
y confidence winch viii bring 5nvay.
oacA into the market. Speaking ger-
raliy, prices OF raw materials ars
'q.-dated 80 & valuation basis. but ".
al Frlces cor some goods are ye. TOO
1iga, This latte- situation will m.
doubleday be cleared 10 before Chs
WINTER IS over, and with .ae return OF
spr'Ag and sunshine people VIII have
more pep" and enthusiasm.
Our feeling Of blues is 20 q large
degree psychological. American pusi-
ness cannot Dc kept down. and vii.
rebound 10 big volume with sur7rjg-
ng recovery. Tn idea Of rom t7o
20 I'VE years Of continued depression
oesettlnG It's country is ~dangerou. ko
s%oster, repegnant and imDoss3bie ~,
cause American industry and the aDir;-
u American business will not perrni.
- Inc gigantic Industries Of Amer
lcs. mar2ef)us in their ingenuity. sb;I-
ny and extent. ere the uorksnops %
me world, supplying nc. only our DO
mest.c requirements Of pract,calls al.
manufactured goods. bur those Of tno
y" rid a. are to q degree and extern,
"hicA no other Industrial nation eve,
oe1ore acAleted, or Can achieve against
our competition, because Of our vastl;
greater SIZE.
This statement Of fact is not made
o&stIu4-y II II ~GerogatIon OF the in
lustries Of Other nations, bnt simply ia
.etute skeptlca, statements Of extended
OPPRESSION. True. the arrangement III
forelgn exchanges, with the deprecia-
ton OF foreign c~urrencles. is an OBJ
stacie 20 American exports that ham
pers their fullest development, Il, 81
tremendous export trade will .. dons
IN spite Of TINS situation. | am there
fore confident Of the future prosperity
Of American business and, consequent
Is, Of the American people.
Speaking broadly. the automobile
BUSINESS VIII recover as quickly az snv
and remain. as heretofore. a conspic-
figure in American industry.
Anybody who thinks the automobile
business has been undermined Is badly
mistaken. 1t is the third largest o.
our industries, and will grow instead
OF lessen IN Importance. The strong
companies Of the industry, with ado
quate plants and capital and good rrod-
dcts, will grow and increase their busi~
ness.