South Bend news-times. (South Bend, Ind.) 1913-1938, 1921-10-28
TRADE OPTIMISM
KEYNOTE OF TALK
TO "AD" MEMBERS
Waldo Cites Need of Amer
ica's Preparing for Future
Foreign Demands.

= ~ - NNNsN
Foreign Demands.
The four hundred and fifty mill
lion peasants Of Europe will all
need night shirts. shoes. tooth paste
and other articles of modern civil
ization and Will demand these
things in enormous quantities as
soon as a credit based upon security
e. established and America must
prepare Itself for enormous de-
mandds upon IT'S productive ability.
Richard II Waldo, OF New York.
published Of Hearst's magazine. told
80 members Of the South Bend Ad-
vCrt.sing club at their banquet m
the oliver hotel Thursday night.
Optimism IN trade with other ma
tions Of the world was the keynote
D. his address. the subject Of which
was THE Next Ten Years"
q. r. Schaeffer. advertising man
aver Of Marshall Field & Co, Chi
caeo. gave an illustrated lantern
slide talk on Constructive Adver-
sing" portraying the methods and
scope Of advertising used by the
merchandising house he represents.
shows Need OF Service.
In his talk. Mr. Waldo said:
when the decision TO reorga.nize
the New York Tribune was reached
& was determined that the object
could only be realized by doing 40
outstanding public service of some
kind. 1t was necessary that the
newspaper should get advertising
and it was quite evident It could not
be obtained unless it did something
deserving The newspaper faced
over two million dollars in libel
suits Four Of these suits came TO
trial Two weTe won by the news
paper and two were lost with an
award OF six cents. In each case, to
tho plaintiffs. The newspaper
started out 20 remove the unfair
competition OF the liar in New
Yorw merchandising and by &C
complishing that object increased
the business of honest merchants
10 the extent that there was a suf-
ficient amount OF surplus for all
with which 20 use the Tribune as
an advertising medium and the fact
YVES proved that a public s1rvtce
will bring It's private profit auto
matfcally.
IT would like 10 have the privi-
Iege OF selling tooth paste to the
r rade OF Europe in the next 20
wears. or OF selling night shirts to
the people Of Europe. There are
millions and millions Of people in
Europe going 10 bed with their
boots on and they will buy cotton
night shirts when their credit is
cs-ta blished in this county"
NJ. Waldo said that the raising
OF standards OF pay TO employees in
America meant a steadily increas-
ing absorption OF the products Of
the products OF manufacture and
pointed out that Ford cars had n
ready market with employees who
receive salaries based on the prin-
clpaI that actuates the Ford COM
panv while no demand could be
found for such articles among Chi
csc labor. receiving low pay, be-
cause the laborer had no oppor-
tunity to enter into the purchase
Has Responsibility.
"All Of our theories concerning
merchandising are based upon this
cardinal principle OF our business:
That a merchant has a definite and
large responsibility 10 his commun-
itv The very act OF opening his
doors and asking the public's pat
ronage implies an obligation OF
rorvice. And by service we do not
mean simply courteous salesman
chin. rrompt delivery. and the like;
v-o mean service IN the larger sense
% the term-the ascertaining and
f-Ifi1inr or the public's needs and
desires I'm the hest possible man
nor: the searching out. in all OF the
worlds best markets. OF the mer-
chandise best devised TO meet the
customers reQuirements-me
Ddise which shall conform 20 the
host standards OF taste and at the
same time represent the maximum
of value which can be offered az
tho price.
we are the most enthusiastic
opponents OF the creed which we
re pleased 10 designate as Service
in observation-disclosures in practi-
cal usefulness. durability and I'M
usual wearing quality; service in
beauty OF design. colors and finish;
service which insures the retail Gus
totmer complete satisfaction and
the rest possible value for each dol
lar spent.
I'VE believe that any merchant
Of average business ability who will
practice this creed as his business
religion. viii ultimately achieve the
largest success and the proudest po-
sftf0-l in publfc esteem"