The Birmingham age-herald., 1921-11-19
SCHWAB PEEDGES STEEL COMPANIES SUPPORT ID FARLEY
Would Gladly See War Max . ing Machinery of His Con- pany Sunk to Bottom
 of Ocean
By Associated pres.

I New York, November 1S.-Em- phatic assurance that the iron and steel manufacturers of the United States are solidly aligned with dele gates to the arms conference in their efforts to end wars was given by Charles M Schwab in an address to- night at a dinner of the American Iron and Steel institute in honor of Marshal Foch.
 After paying high tribute to the marshal and telling him that, in the language of the greatest of poets. he had been "Grappled to our souls with hoops of steel" Mir. schwab. who Is 1 head of the Bethlehem Steel corpora ton, said:
 Private Interests
 T would like to take advantage of i this occasion to say something which has long been upon my heart. and which at this significant moment, is clearly my duty to say It was stated at some of the sessions of the recent League of Nations meeting in Geneva and 1t has often been care lessly suggested in the press, that the flame of war is in great meas ure kept alive by those interested in 1 the private building of naval ships and the manufacture of munitions of war. 1 can. of course, speak only for myself. but I believe I know and ex- press the sentiments of others placed in similar positions to mine when say this;
 q am at the head of the largest war materials manufacturing
 works in the world. The ship yards of my company build more naval ships thnn are built in my
 other yards under one manage
 'ment in the United States. Hut,
 have been thrilled beyond express
 sion. ss had every good Ameri-
 can, by the brilliant and states manlike scheme laid before the conference at Washington by
 Secretary Hughes. The carrying
 out of that plan may involve
 great monetary loss in some quar-
 ters, but such thing as financial loss can be of conside ration when compared to the inestimable boon to mankind which would he
 involved in the realization of that
 magnificent plan."
 Mir. schwsb declared that if the statesmen now assembled in
 washinEto find 1t possible to
 bring about disarmament and
 permanent peace, gladly would he see ..the war making machinery
 of the Bethlehem Steel corpora
 ton sunk to the bottom of the occan.v
 Nothing could contribute more to the ultimate and permanent pros perlty and happiness of the world, = he added, than the conclusion of agreements between the great na- tions of the world which would eliin- mate war and the causes of war. And so, let us say to the men gathered at Washington, let it go out from this gathering of men of the steel and iron industry, that we are solidly behind every effort they can make which will hasten the coming of the time when war shall be no more.
 Money Low
 "If disarmament inflicts money loss upon us. the American iron and steel industry will accept it will iuRly and gladly We will do so, not in a spirit of mere idealism and self sacrifice, but in a belief that the greatest permanent material pros perity would be brought about by the concentration of the energies of mankind upon constructive activi- ties; upon means for well being and not for the destruction of civiliza- tion"
 we in this country" he continued "are in the midst of great business depression, a depression which Is ar fecting the steel industry quite as much as any other industry in the country. To escape from this slough of despondency, the various factors of the steel business must consider the interests of the whole rather than merely seek to promote their selhsh endss