The Washington herald., 1921-03-16
Harding Reports Convic-
tion That Depression
Tide Nears Ebb.
TELLS SENTIMENTS
OF INDUSTRIAL MEN
Foreign Trade Problems
Receive Attention at
Trade Meeting.
ny ARTHUR SEARS HENsIse.

ny ARTHUR SEARS HENNING.
How TO boost American business
at home and abroad was the prin-
cipsI subject OF discussion at the
meeting OF President Harding with
his Cabinet yesterday. ..
The President took an optimistic
view of the present period sf busi-
ness depression. reporting 70 his on
cisl advisers the substance Of tain.
he has had in the last few days
with the heads OF great industries.
like James A FARRELL, Of the Unite
States Steel Corporation.
Depre.sion Over.
The information which has cone
to the President in this way is that
the low tide OF business depression
has been passed. and that conditions
are beginning to improve in those
industries which were the FIRST q
be hit by the buying slamp and fsi!
in prices.
Mr.. Harding directed Cabinet dis-
cussion to .he considers ton of der
mite policies for fostering the ex-
pansion OF domestic and foreign
commerce. which he sums up as the
promotion Of national prosperity.
one Of the highest functions Of gov
ernment.
Dislike Theorte.-
The President Indicated that ne
tavors the abolition of lettering re-
strictions imposed on industrial and
agricultural development. and
greater degree OF cooperation be-
tween the government and the busi-
ness activities of the country. while
he drew no comparisons. he left no
doubt that he intends 20 effect a
change from the attitsIde Of the
Wilson administration in seeking 20
apply theories to the solution OF
problems of trade and production.
In the field of foreign commerce
the President cited the fact that
the lack Of government cooperation
and outright restrictions had served
TO place American business at a
governments are extremely pster-
nslistic in the promotion OF foreign
trade. Such foreign paternalism
takes the form OF government sub
sides Of ship lines. and the exten-
sion Of banking and marketing ia
cilities to exporters.
Policies Urged.
while not advocating direct sub
sides 20 American ship lines. the
President was Of the opinion that
American ships should he relieved
Of the payment Of Panama Canal
tolls and that the government
should furnish the same aid 20 eE-
porters enjoyed by their foreign
competitors.
expressed the opinion that one ~
the first steps taken should be the
amendment of the Webb pomerene
act. which permits combination OF
exporters. so as to enable them 20
operate distributing agencies
abroad. He also described his plan
for advisory committees Of the
principal industries Of the countrv
which will cooperate with the gov
ernment in developing the produc-
tion and marketing of the sort OF
goods required by foreign custom
ers. He Is to formulate this plan
at a meeting with a committee Of
the Chamber of Commerce Of tNe
United States next Saturday.
Territorial Policy.
While on the subject Of business
the President said he vas convinced
that the Territories and insular pos
sessions had suffered from neFiect
In some important respects.
He cited the situation in Alaska
which has declined in population
owing TO ecoromic conditions and
inadequate transportation. He asked
Secretary of the Interior Fall 20
proceed to Alaska as soon as pos
sible to survey the situation and re-
port recommendations. Mr.. Harding
opined that the whole policy OF gov
erning and promoting the interests
of the populations Of the territories
and insular possessions needed a
thorough overhauling.
Secretary Of Labor Davis BROUGHT
up the question of disposition Of war
workers houses at Quincy. Ill. and
this led to a discussion OF the Who'll,
problem Of disposition of surplus
war supplies and settling war con.
tracts. Secretary OF War Weeks told
how he is required TO devote large
amount OF time TO winding up the
accounts OF the late war. time which
he feels should be given TO the man
sgeHent OF the army and considers:
tion Of future military needs of the
nation.
As a result Of these representa-
tions the President Is seriously con-
sidering a recommendation to Con-
gress for the creation Of a Iiquids-
tion commission TO settle war con-
tracts and sell surplus property. He
is convinced that a single agency
could realize more salvage that the
scattered agencies Of the various de-
psrtments.