The New York herald., 1921-01-09
G. W. NASH HAS HIGH
HOPES FOR 1924
Well Known Manufacturer
Discusses General Business
Outlook for Year.
with the abundance of material wealth

with the abundance of material wealth
in this country to-day the business out
| look is bound TO be most encouraging,
says C. w. Nash, president OF the Nash
Motors Company and one Of the coun-
try's foremost manufacturers.
America is to-day the richest nation
in the world This will not be ques-
toned. For some years past we have
acted as the main source of supply for
other countries The volume or our
production In most lines has been Inn
tied only by our ability to produce ana
not by the size of the demand,
"Our products have been sold az -op
prices. In payment for these products
there has been a steady flow into inns
country of the money of the world rnui
America. instead Of being saddled oy
stupendous financial obligations, as are
most OF the other countries, stands IN
the enviai5le position of being the WORDS
creditor-the greatest money power
among nations.
"As nation we are more than SOL
vent We have a handsome balance on
the right side of the ledger. And th!s
wealth is not concentrated In the nands
of a few individuals 1t Is spread
through every industry and every layer
OF the nations economic life,
Business has Just passed through the
most profitable era in its history on the
American continent. Sales totals nave
passed all previous marks and pronts
have been correspondii gly good.
This naturally brought with 1t a pc
riod of unprecedented prosperity for
labor. which has received more for 'ts
services-in many instances--for single
day than it formerly received In week.
Farmers, too, have shared abun-
dainty in these general good times.
1.-THE point am making is that there
is wealth. a great amount of wealth,
throughout the land. This. of course.
Is fundamentally important. 1t Is the
ground upon which base my conviction
that the readjustment through which
we are just passing is to be followed
by. a period of good business. BY this
I do not mean boom business such as
Immediately preceded the present defla-
tion process, but business conditions
which Will be great deal more stable
and sound.
"My confidence in the average Ameri-
can business man and his administrative
ability is great l know that, taken col
lectively, he is the best business man
I in the world / do not believe this IS
mere patriotic talk. but, feel that the
facts bear me out.
$50 l feel certain that he Is a big
enough executive to go through neces-
sary period of deflation and emerge
stronger and more secure than he was
before.
"In short, my confidence in the Amer
lean business man, backed as he is by
the nations wealth. leads me to be most
! hopeful over the business outlook for
! the future.
"It is true that we are right now un-
| dergoing readjustment which was neo-
essary and inevitable and which, to my
mind. is bound to have a good effect
upon the entire country.
| This readiustment means n squeezing
cut OF fictitious values and a getting
! back upon a more substantial and per-
manent economic foundation.
THAT this readjustment is rapidly
nearing completion is indicated by the
fact that for some little time past there
has been reported by the banks an In
creasing turnover of money. This is al
ways good sign.
"A process OF liquidation is taking
| place which 8 putting the money of
the country into healthier lines OF busi-
| ness enterprise While the banks re-
port no radical reduction in the total
amount or loans they do report an In
creasing liquidation of outstanding obli-
| cations and a consequent increase of
new loans, which means that the nations
money Is going back to work again and
| that huyil power is on the increase.
II should say offhand that every dol
| lar paid in on an old debt increases the
buying capacity of the country to the
extent of about IS.
by way of illustration: If a man
owes you dollar and pays 1t you have
dollar more with which to buy and
the man from whom you buy has an
other dollar with which he may pur-
chase and so on, throughout the circle.
"The present condition of business In
dicates pretty clearly to me that there
is bound to be an Improvement in the
buying market in automobiles and kin
| dred mes in which | am, of course,
primarily interested, but that business
as whole soon will be. to quote the old
slogan. Carrying on as usual