The Seattle star. [volume] (Seattle, Wash.) 1899-1947, 1923-10-25
CARY DECLARES
FAITH IN FUTURE
Endorses Coolidge as Leader
OF American Business

NEW YORK. Oct 25.-HeaTty IN
dorsement Of the policies and record
OF President Calvin Coolidge vas
voiced today by Judge Ebert ~.
Gary. president Of tie American Iron
& Steel institute. In his lrst address
since the new chief executive took
office.
The speech. made AZ a meeting %
the Iron & steel institute az the Ho-
tel Commodore. was full Of optimism
for the business future.
Gary said:
''If the business men VIII DO their
part and keep with the president and
his assistants in conducting their az
fairs in conformity with the high
ideals which we believe actuate the
president IN the performance Of bis
duties as the chief executive, there -
no reason 20 fear there VIII be n
serious financial or commercial dis-
turbance or depression during tho
next few months.
HINDRANCIsS TO PROGRESS
OFFSET BY ADVANTAGES
"There are. as always. some hin
ORANGES 70 the natural progress and
prosperity In the United States.
There arc the turbulent conditions
in other countries. the unreasonably
high and burdensome taxes. national,
state and municipal; the high costs
OF production. in some lines uncon.
scionhble. and the high costs Of liy-
Ing. brought about largely by those
who complain the most.
but there are many reasons for
confidence in the economic future IN
this country. outside OF those which
are basic and paramount, including
our enormous wealth and immense
yearly income. which increases as
the years so by.
1T may be stated with confidence
that the outlook Is good.
Let us have faith i'm the fu.
ture and do our parf, proceed.
Ing always with good judgment.
prudence an dwithin the limits
Of our resources. but steadily
forward towards the goal OF our
prosperity. which we know is
ahead, and win be greater than
ever before"
Gary devoted n considerable por.
ton OF his address to reviewing the
career OF Mr.. Coolidge Quoting from
the presidents attitude toward bust.
ness and industry as already re-
vcaied by his words and actions,
Gary said:
Turning 10 the European sit
uation, Gary said that while the
United States undoubtedly was az
fected by developments there, ut is
doubtful II our government can NJ
present be OF much assistance IN
attempts 10 restore the equilibrium.
Voluntary advice or sympathy lust
now would not be acceptable. Prac-
ticaily. We can be OF benefit only
BY example.
1T would not DO appropriate for
us TO take sides in European con
troyersies nor TO condemn individ-
ual attitudes or conduct, but we
know the great seas are not wide
enough TO separate us from the in
nuences OF disaster in Europe"
But. while America is affected
by European developments it is not
dominated by them" Gary empha-
sized. 1--WE are. or at least we
may be, independent or all other
countries. so far as business pro
gress and prosperity are concerned"
Gary opened his address by con-
graduating the members OF the
Iron and steel institute on the fact
that the 12-hour day had been
abolished in the industry.
I'VE pledged our cooperation
with President Harding in the ef-
fort 10 eliminate the IL hours in
our industry as soon as it should
be practicable said Gary. Gen
tlemcn that pledge has never been
postpond unnecessarily. Everyone
familiar with all tn facts Will testi-
~ TO tho good faith and nearnest
cndcavor OF the industry
Gary announced that the steel In
dustry now employees 100000 men
and does $4,000. 100000 business an