The Coconino sun., 1921-02-04
DISCUSSES BEST MEANS
 OF OUR DEVELOPMENT
Flagstaff, Jan. 31, 1921.

management, HeNeTthelcSS, ONly very few suggestions, to my opinion, have been fundamentally constructive.
 Since I am deeply interested in the welfare of Coconino county and have at least succeeded to initiate a land developing company to be the largest and most beneficial of it's kind, nev- eltheless realize that such an enter prise is under present existing condi- tions entirely too premature, not in its practice, but in its theories. Knowl- edge of foreign trade functions, of To- cal most vital needs of northern Ari- zona warrant me to make few sug gestions, which, l am sure can only be beneficial to the state.
 The often expressed desire of "Go- 1 ing back to normal times" is sound and sincere, but seldom clearly under stood. During the war, politics have been practically advisor and in some cases, owner of our industries, but normal times demand the re-estab- lishment of our industries on interna- tional productive basis with politics as representative, therefore our present dilemma is not political" but pure l anu Slliplt ouI VI "liiSI arises the necessity of equalizing the foreign exchange rates.
 | Industries throughout the U. s. A. are too extensive and varied to be- come a matter of general discussion, therefore will confine myself to the present needs of our county and state, admitting nevertheless that these theories are fundamentally applicable to any or all other states.
 For the first time in history our state, young, full of resources, faces real crisis. Government is poor agency to look for remedies at pres ent. These latter must come by the collective action of individual business enterprises. The situation is entirely too far-reaching and fundamental, to be materially benefited by any one banker or business enterprise. A great many inter-dependent enter prises must collectively think and act. Then some one directing head must be given the rein and must be supported Loyalty, then you have the happy com bination for real success in industry: Collective interest in the community of enterprise, individually executed by a competent directing head, chosen by the associated industries"
 By pooling, as it were, of all inter ests. into a holding corporation, such corporation, can issue it's debentures, to finance it's business; that of intelli-
 gent supervision of production, world
 information on markets and market
 ing and the actuality of marketing. A | I.-. af ha ft-pa In-
 Scribed, will readily obtain the active
 cooperation and support of the pow
 CTS that be.
 There are today wonderful markets
 for just the merchandise Arizona pro-
 duces. But the foreign land cannot
 buy here because we exact cash and
 the exchange rates are for them pro
 hibitive. Hence, the 'buying strike
 abroad, not as so much anticipated
 incompetence or impossibility of marketing"
 This condition can readily be rem edied if gigantic combine is formed that can issue its debentures in the
 open market; thereby financing ex-
 ports. A part of the function of such
 combine will necessarily be: The mar | ktllfp ItIt pl loiNlGh C'1ui e@' cepted as payment for merchandise
 In many cases (such as Russia) gold
 is readily forthcoming and business
 with that country is being done safe Ily. One needs only to be big enough
 Such q combine can readily adapt ' itself to the only really profitable
 mode of foreign trade at present; that
 of exchanging merchandise. A mar.
 keting institution at both ends, will f readily get its cash out of merchan- , disc thusly accepted. And there arc , large varieties to choose and pick z from.
 Such a combine warrants us to deal , direct with foreign and domestic prin- cipals, eliminating the eastern Specu- , lator, under whose directions our in dustries will always operate haphaz- P ardly, resulting in heavy financial fiuc- tuations.
 Such a combine can, through the merits of its existence, command in- formation, not obtainable by the av. craze business house and engage ir deals of huge proportions, more read.
 fly than government itself. Such a combine, by assuring mar. } kets, will fix our production of raw f materials,,on sound and fundamental | basis, encouraging safe investments ir inter-dependent industries, such as agriculture and the tourist business.
 Such a combine warrants the con. l tinuation of our cotton industry, 8 } very valuable asset to our state. 7 Such a combine eventually encour. ages home industry and manufactur, f ing of our raw material, soon to be received from Africa, South America and Russia into merchandise, serving . as exchange to these foreign lands and by the assistance of efficient labor l readily become strong competitor to l European industries.
 Uncertain future of industrial con. ditions breeds much discontent r amongst laboring classes, because % pc, cent of all working men are culti, r vating the impression that the present [ "close up" of many industries is the
 only way of arriving at the capital
 istic goals Decreasing labor prices.