Evening star., 1925-04-12
What's Ahead for Business?
No. 14-Prosperity in All Lines Is Seen by Herbert
Hoover.
By John F. Sinclair
Author Europe Hold Together? and "Can Your Taxes Be

The Department of Commerce is the
economic and business laboratory OF
the Nation. In it are employed more
than 1000 men and women to get
the facts about business and industry
for the people of the United States
Its job is to synthesiZe an the busi-
ness activities in this, the worlds s
richest nation.
During the past four years Herbert
Hoover has been directing it's activi-
ties as Secretary OF Commerce. He
probably will continue such direction
for another four years.
Hoover is we'll fitted for his posi-
ton World traveller before the great
war, world famous during the war,
Hoover is primarily a shrewd, keen,
able, Woodworking business man. His
mind is that of big business leader.
In him the business men of the United
States have absolute faith To him
they go frequently for important
business conferences.
Was Business Man First.
We are accustomed to think of
Hoover as war character, the savior
of Belgium, the food dictator to a hun
dred millions of people, public man.
But when the war started in 1914 he
was anything but that. He and his
associates, at that time, had in their
employ, in various mining undertakings
scattered throughout the world, about
175000 men. He was then only So
years of age.
Looking back over the past year
we find three outstanding features of
economic progress" declared this
quiet talking Secretary in his Office
in the Commerce Building in Wash
ington. First, the marked advance
in agricultural prices, which had
Jagged behind industry since the
slump of 1920; second. the beginnings
of sound policies in German repara-
tions, leading to a hopeful measure
of economic recovery in Europe; and,
third, the complete recovery of our
own industry and commerce, great
stability of prices, high production.
full employment, expanding foreign
trade and prosperity throughout the
business world.
Let me say a word about agricul-
ture," continued Mr.. Hoover. Taking
the long view, the economic forces in
action in America today are more ia
vorable to the American farmer than
to other groups in the country. Why?
Our population will gain $4,000 900
people in the next 10 years. The
American farmer is producing sur
plus now for, roughly, from 100000
to 100000 people. Very shortly we
shall be able TO consume all the farm
products raised within the United
States"
What about transportation condi-
tions, Mr.. Secretary?" 1 asked.
The last fiscal year was the first
one since long before the war that
railroad facilities were completely
equal to the demands of the country.
There were no car shortages, and a
speeding up of goods occurred. Ex-
tension of terminals and readjust-
ment of rates are still required. Large
consultations of railroad systems
into fewer units are needed to secure
the ultimate best service and sound
finance"
Growth in Foreign Trade.
But upon the matter of foreign
trade, Mr.. Hoover showed particular
interest. The foreign trade service
of his department has grown enor-
mously under his administration. In
1921 the department was receiving
less than zoe inquiries a day; now
they receive more than $500 q day.
mo intelligent discussion of our
foreign trade balance sheet can be
made which does not include the So
called invisible exports or the serv-
ice charges" declared the Secretary.
by these charges 1 mean such
credit items as nations receive out
side of their own territory, such as
investments aboard, remittances,
tourist trade, shipping. foreign in
surance. Such items | estimate at
from 35 to 40 per cent of our total
export business.
I'VE have now become a great
creditor country" he continued. ITO
day over so per cent of our exports
are agricultural products. These ex-
ports will gradually decrease and be
absorbed by an increase in our ma
tional consumption. 1t will take us
some time to readjust our interna-
tional balance sheet as a result OF
the war and the huge buying which
accompanied il. But our position in
world trade will ultimately show on
the balance sheet as it should-as a