Omaha daily bee., 1921-06-04
Baldwin Go. Head
Sees Prosperity
ByClose Of Year
President of Locomotives
Works Accepts Contracts
From Europe on To-
Year Credit.
By HOLLAND.

Samuel Vauclalm, president of the
Baldwin Locomotive company, IS
quoted as having said that he looks
| for prosperity unexampled in our ms
tory not later than December OF tins
year and possibly as early as NO
| ycmber Mr.. Vauclaim differs from
other directors of great industries IN
setting the time so late in tho year.
Judge Lovett fixed the date when
revival of prosperity would be made.
evident Immediately after July OF
this year. Judge Gary did not iden-
tify the date by mentioning the
month or the day OF the month, but
said to his friends of the steel indus
try that prosperity, unless grieyous
mistakes be made, is at hand. lhat
is also the opinion of Charles M.
Schwab. and Herbert Hoover has
said that he believes that world con-
ditions will be stabilized within two
years.
Mr.. Vauclaim has in his own in
dustry set an example which other
industries may follow. He has ac-
ccpted contracts for large number
of locomotives to be delivered to one
of the nations of central Europe and
has agreed to give credit lasting
for 10 years, there being also stip->
ulation that the interest will be
promptly paid. He has also sold an
other of the central European ma
tions many locomotives and the con-
tract calls for payment IN barter.
That nation possesses large resources
in oil and Mr.. Vauclaim has agreed
to accept oil in exchange Tor the
locomotives.
Transportation First Need.
Therefore, however. greatly our other
manufactured products may fall OH IN tne
export of them. this industry is certain
to export several hundred locomotives dur
ing the year Transportation Is the first
of several imperative needs which must
be secured by these nations II they are
to recover. The locomotives and Amer
lean steel rails will provide transportation
facilities -.
several of our Industrial leaders who
have based their assertions that pros
perity awaits US upon the inconce,yaply
great natural resources Of the .rt tnlse9 .he1
wo are. with respect to the resources
within our boundaries. the richest nation
in the world It was s, upon pvs,Orm.nt Sur a.
some of them that President Lincoln anu
h.ss secretary of the treasury. Governor
Chase relied for obtaining the needed
entailed by. the Civil war. One OF tne
ablest Of the statisticians OF that DAY
pointed out that the resources ,s OF me me
north were sufficient no 70 pruv.of wsr for 10
years at least and without entalhhs any
additional taxation.
Our National Resources.
Yet when David A.. Wells pubnshed
his book which told OF our Gsxv nar.rat tnste re
was not conception Of the magnitude OF
these resources Petroleum had been un
der development for only Two Two .t or 'nrse was
not suspected. This year petroleum anu
its various products viii represent In 9 tne
aggregate billions Of dollars Tne s'eel
rail and airbrake were just beginning 10
Facilitate the opening up OF agricultural
belts west of the Mississippi containins
many million acres OF ricn soli ana Weae
making possible the cultivation OF wheat
ana other grains in amount sufficient to
feed our own people and 70 proyioe,
surplus for export. The wonderIuity ~
d eposits of iron ore in northern Michisan
and in Minnesota mad not been recosnizeu'
nor was there the slightest comprenen-
sion of the possibilities OF weaith Wnsn
tho birmingham district OF Alabama We
we,e lust beginning to discover that there
were other very rich deposits OF copper
than those which mad already peen as
cn~arad In the northern epninsula OF Mich
igan. .x. r,.s
Tn one of the addresses recently de-
livered by Judge Gary he referred 70 aS an1
enormous wealth waiting to De deveioppss ps
S.rich lies in our natural resources. his
thought was the same as the one Mnis ~,
was put into words a day or two ago ~
MIR. vauclaim. II is 1 inest.ae,u "a enp,eited % as
soon as world conditions become stapii-
ized. There should be recovery ra
precious metal mining. Irrlsauom ,sast
other modern methods will open up Vas
fields to agriculture Already in some oi
the southern states reclamation OF nitneI
to waste but very fertile LANDS Is IN pfo
gress. <.sar.y reserya
hoard is reported to have said recently AZ
kansas City that business conaNonss.
the west are in much peter ~ ioaSs
than he expected to find them. he iooks
for steady improvement. Goyrnor har
ding may have heard from the nortn"ss.. s.s,
There the agricultural prospects az
Ing greater promise for sausra1.u s0 ,sst year.
both wheat and rye are In exceilenl cor
dition. while live stock is thriving because
range conditions are excellent.
500 Canal.
Sometimes the traffic through the Soc
canal furnishes an e1esnen. @ not have
oxnorted as many Of our commodities to
forsirn countries in April of this year as
we ' did in April year ago. and yet the
freight which passed through the 500
canal in April was nearly so per cen.
graater than the amount transported
through that canal in April q year ago, :
rhe westbound traffic consisted chiefly
II cargo coal OF which there y great a neea
n some parts of the northwest. The east.
,ound careoes were for the most part
rhaat and other grains. From the day
when the canal was free from zee until
Nav 1, 10000 900 bushels of wheat anu
,tbsr grains were taken on their way east
YARD through this canal. While Europe
not buying probably because ~ mao
lot the means to buy DIS large an anou
n American raw material as It DID iassz
ear' It certainly is buying heavily ov
,ur food products and these heavy snip
nents of craih through the 500 canai ~