The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1922-05-21
PR0FITEER ON THE RUN
Hasn't Been Eliminated, But
Disappearing; Tax Prob
lem Cared For
NATION MUST HAVE LABOR
Menial Jobs Emptied by Pro-
motion Can Only Be Filled
by Immigrants

'As steel goes so goes tho coun-
ry' for many years has been
ruism. ana there probably Is no
man in the United states who more
.ruthfully can read the pulse OF the
upward or downward movement OF
he industry than Judge Ebert II,
Gary. chairman Of the uNited states
Stocl corporation.
Lately there has been much op-
timistic talk about our having
passed the worst OF the business
depression and our unimpeded ad-
vsncement 10 renewed prosperity. Is
this justifiahle? Are we pulling our
selves out OF the slough OF business
decline? what ara the evidences OF |
such movement? What ls the out
look in employment. immigration,
the tariff, the bonus7 These are
some OF the questions that Judge |
Gary discussed In an interview.
Lasting business prosperity based
upon sound principles aud invest
ment IL not far distant" he said.
ALREADY we can safely say that the
peak OF the depression has been
passed. The end of this year or
sooner should mark tho approach
Of business health that Will be last
ing and not ephemeral.
las n matter of fact, We should
| have reached this state long before.
| Tho signing OF the armistico should
| have been a signal not only for the
cessation OF hostilities between ma :
tons. but the commencement OF n
drive for a return to normal condi-
tions. Unfortunately. many did not
choose TO Interpret the signal In the
second way. Flushed with tho ILL.,
gained victories OF war-begotten in.
dustries and profits. they chose to
pursue tho way that emergency de-
mands had opened for them. This
was true 10 both capital and labor.
PROTECTING In selling prices OF COM
moditics and wage rates continued
long after there was any reasonable
excuse for It, The point is that
men OF all classes refused TO turn
about face and walk to the steady
hum OF normal industry, which
spells peace. The sound OF the war
drums was ,stlll In their ears. They
were not ready for "A return to pre-
war days.
Together with tho proflteerlng
that continued long after II should
have stopped. there was another
drawback to Industrial soundness.
Taxes, which had skyrocketed dur
with the same rapdity which had
marked their ascent. Earnest and
well-lntentioned business men. who
| were anxious for personal as well
as patriotic reasons to invest their
capital felt that thex hands were
| tied by the taxes levied upon them
Many enterprises were choked Oft
| by this fear.
Profitccr on the Run
SLOWLY but steadily both these
! factors are being taken care Of The
| profiteer has not vanished from our
midst, but he Is fast going.
Iron and steel. It is said, are the
| barometers Of the nation. And to-
day the outlook IN this Industry ls
hetter than It has been since the
/ early part OF 1924. when the bust
! ness boom followed upon the close
OF the war collapsed, That boom,
I as is now appreciated was un-
| healthy, built of the stuff that the
was ever nurtured, The year 1922,
| II Is my belief, will he a great Inn
provement on 1921 and very greatly
| superior. from the BUSINESS point
| OF view, TO 1920. Today manufnc-
| turers Of iron and steel report that
they are selling more than double
the quantity that they sold six
months ago. 4 glance into the fu-
tlre based on facts Of the present
seems 10 show that this Increase Is
scheduled TO continue, II is gem
eraily agreed that business will he
very satisfactory at the beginning
OF next year and probably before
then. This Is as true OF foreign
trade as II is OF domestic.
"Not the least indication OF he
80 la
present employment situation. EN-
ployment is always. an indication OF
the business pulse OF n nation. Al
ready we are beginning to feel a
pinch In tabor supply. This Is es'
sentlally true OF unskillcd labor
That pinch. perhaps, Will not be re-
lleved until the laws for the restric-
ton OF immigration are loosened'
Judging by Industrial conditions one
reasonably could say that our i'm
migration laws have gono too Tar
In barring the immigrant who ID
needed nero and who needs US.
Every impedl ment should be placed
before the type OF immigrant VINO
cannot make n contribution toward
the growth OF the nation ana ac-
cent the Just reward for BIS labor'
but. at the same time, there should
be announcement for him that VIII
Mon ana women who qualify men
tally, morally and physically for ei-
, try into this country should not be
, deharred by percentage rulings
. These people have something def
, mite 10 offer the country, their
, strength and their allegiance; the
Z country has something definite to
CONTINUED ON PAGE NINE.