Great Falls tribune. [volume] (Great Falls, Mont.) 1921-current, 1922-10-04
America Must Hurdle
Bars To Prosperity,
Lamont Tells Bankers
Low Prices of Farm Products, Labor Strikes,
Soldier Bonus, New Tariff and Foreign Eco
nomic Situation Called Deterrents; Favors a
Policy on Cancellation of War Loans.

New York, Oct. "a picture Of
America, recovering from the rude
buffets. and deep wounds" of 1917 tc
1921 and with characteristic forces
binding UP her bruises and slowly NOV
ing forward to new goals was drawn
Tuesday by Thomas w. Lamont, assocl'
ate of J. p. Morgan, in an address pc
fore 10000 delegates at the convention
of the American Bankers association
but we have not yet cause for I'M
bounded confidence" he cautioned the
bankers. I'VE must not forget. that
before the race is won, we still have
some high hurdles to jump"
These bars in the path to full pros
perity. he enumerated as:
Low prices prevailing for farm
products.
labor strikes.
i3-The soldier bonus.
4-The new tariff act.
5-The foreign situation, with re
spect to reparations, allied loans and
international trade.
Discussing separations and inter
allied debt. Mr.. Lamont read two ques-
tions: do our former allies really
owe us all the debit" and ARE we
doing our full share to solve the tragic
questions that are weighing upon the
world!'
One thing is certain he declared.
IF someone. on April 4. 1917. had been
able to give us our choice as to whether
we should rather give up freely and for
all time $4,000. 00O. 900. or give up the
lives of several hundred thousand of
our sons. there would have been no
hesitation as TO our choice.
Fate Guided Choice
Fate. however. demanded that
choice: it demanded that Great Britain
and and France should give up the
lives during that first year and we
should furnish, not our blood. but our
money: taking. however. in place of it
the promises to pay off our allies.
"No other policy could have been
followed at that time. | grant you. but
now that the war is behind US and we
can take a long look back, is it wise
for us. is it just. is it generous to
make some composition of this mat
ter?"
Mr.. Lamont sought to console the
farmers who, he said. complain that
though this is a big season for crops,
our net money gain would be small"
II shan't attempt TO argue the point
of lower prices" continued the finan-
cler. but j never knew q country
TO 60 broke because of its abundant
crops. 7 think the low price hurdle
the easiest one TO jump. The farmers
had high prices in 1919 and 1920 but
the aftermath vas a serious one for
them. In the long run. they, like all
of US, will fare better on a moderate
price scale with small fluctuations"
Labor strikes rise as one of the
most serious distractions TO pros
perity." Mr.. Lamont declared. "even
though the worst may now seem to be
over" He asked his audience to ere
member that in this country there are
still traces of arrogance among employ
ers as there are manifest signs of AFRO
gance in labor"
President H~arding's veto of the
bonus bill, with its threat to tax
billions more out of the American
people and distribute it in such a
way so probably no one would re-
ceive real benefit Temporarily leaped
that hurdle and created a feeling of
relief" said Mr.. Lamont.
OF the tariff he said: 1--WE shall
be fortunate indeed if we do not