The Washington times., 1924-02-01
us. INDUSTRIAL
CONDITIONS
GOOD
Can Maintain Prosperity
Without Foreign Markets,
Says Irving T. Bush.
BY w. s. COUSINS.
Copyright. 1894, by Cosmopolitan


News Service.)
NEW YORK, Feb. Irving T..
Bush. president Of the Bush Term
inal Company and head of the New
York State Chamber OF Commerce,
said today that he does not believe
In waiting for the rehabilitation of
european markets In order to com
plete this country's Journey back
70 BUSINESS and industrial normalcy.
American business men have
demonstrated their ability to main
tain prosperity independent of the
foriegn markets." Mr.. Bush said.
Last September on his return
from an extensive European tour.
he said, this country should make
Its plans for next year without
counting on a revival Of the buy.
ing power Of Europe, which is like
~ to decrease rather than increa az -
Subsequent events have shown
the accuracy of his predictions.
"A particularly good thing about
the present situation" Mr.. Bush
said, lis that we seem at the mo.
ment more independent of the for.
eign markets. Exports are going
out In fair volume, but we have
demonstrated that we can maintain
prosperity In this country without
an abnormal amount Of foreign
trade. Other countries win need
our copper, cotton and MANY other
raw materials, and will take from
US as well substantial quantities Of
our motors and other products,
which we have standardized and
produced by mechanical methods In
mass quantities. In these special
lines we can compete with the world
without regard to the wage scales
OF our competitors"
U. s. Conditions Good.
Good, and getting better, is Mr..
Bush's Characterization of domestic
business conditions. 1.-THE next sig
months look to me to be very prom.
istng from the American point Of
View," he declared. Business in
most lines is in good shape, with
an improving tendency. The best
part OF the outlook is that there
seems to be nothing in the shape
or boom going on, but merely q
steady improvement, based upon
sound conditions. The bloodletting,
which took place last summer, was
an excellent thing for business gen.
orally, and while there are some
exceptions, like the one-crop wheat
farmer, the average of business is
substantially better"
= Declaring that European condi-
tons ''are better because they are
worst" Mr.. Bush said the chief
trouble with Europe is her state of
mind. Economic conditions there
would have mended more rapidly il
the politicians had stopped preach
ing and inflaming hatred, and he
points to the French government as
the worst offender.
Italy has turned her back on
rainbow chasing, and under Musso-
lini is endeavoring to accomplish a
sane reconstruction by rational
method. England, as always, has
her senses, but her industry is so
dependent on foreign markets that
extensive unemployment is unavoid-
able.
Cannot Pay Now.
There are signs that the French
government is beginning to realize
that it does not pay to strangle a
creditor. For the first time, bust
ness men, including delegates from
this country, are seated around a
table to consider. conditions in Ger
many, which, in the final analysis.
is a business problem.
Germany can pay little or noth-
ing today. With her industry reor-
ganIzed, and her currency standard.
lied, she can ultimately pay sub
stantial reparations. The longer
these steps are delayed, the smaller
Germany's ability will be to pay.
and the French are entitled to more
than they are likely to get"