Evening star. [volume] (Washington, D.C.) 1854-1972, 1930-01-19
GREAT FREE TRADE
EMPIRE DISCUSSED;
Business Men See Possibility
of British PactS With
D0minionS.
BY JOHN F. SINCLAIR.

BY JOHN F. SINCLAIR.
Special Dispatch to The stsr.
NEW YORK, January lS.-Baron
Beaverbrook of England, who left New
Castle, New Brunswick. Canada, to
carve a name for himself in Great Brit
ain, may be prime minister of Great
Britain before many more years pass.
After making a fortune in cement
and pulp in Canada, this son of
Scotch minister became the Canadian
government representative at the war
front in 1916. Already he had been
six years a member of the British
Parliament. Then he entered the pub
fishing business and became an ow'aer
of some of Britain's largest dailies.
AS the leading champion of free trade
within the empire, he has much bust
ness support in England and in the
dominions. The powerful Rothermere
papers, his greatest competitors in the
newspaper t1eld. are backing him up,
too, in this fight.
Business men see the possibility OF
a great free trade empire, where the
dominions send their goods to the
mother country free, and where the
mother country sends her goods back
in the same way.
Sir Thomas White vice president Of
the Canadian Bank of Commerce, at
the annual meeting OF his bank, in
dorSed the principle of building up the
empire economic unity through the en-
largement of existing preferences.
H. B. Henwood, general manager OF
the Bank of Toronto, likewise empha-
sized the opportunities of greater trade
between Britain and her dominions.
The British Empire within its vast
boundaries produces every variety of
commodity required for the use of
man." said Sir Thomas White, In speak
ing Of this new trade.
rhe movement has more significance
than many American business men
realize.
Realty Values.
Real estate values-in fact all bust
ness valueS-are based on growth OF
population The worlds population is
increasing at present each year at the
rate of about SD of per cent. Should
this continue, the earth would be over
populated some day.
But an analysis of these figures in
| dicates that the increase comes from
AN age composition" which tends to
| increase the number of births and lower
| the number of deaths.
IF fecundity and mortality remain
| what they are, the proportion OF old
| people will increase; this means the
birth rate will further decline and the
| death rate will mount. There is, there
| fore, no immediate danger of a gen.
eral over population" says Robert r.
Kuczynski. of Brookings Institution in
| Washington, an authority in this field.
According to this expert, fecundity
has already declined so much that the
number of children in all the coun-
| tries of Western and Northern Europe,
| North America and Australia combined
is no longer SUFFICIENT to replace the
reproductive age groups, the Anglo
Saxcns, Germans. Scandinavians and
/ French no longer reproduce them
selves says this expert They are
doomed to die out and their countries
will sooner or later be occupied by
other races"
This subject. from the standpoint Of
business in the future, is tremendously
important. Insurance companies have
! done q lot in extending the life limit.
But this, in itself, is not enough.
Income of Banks.
! How do banks make money? The
| large profits being reported now are
not made by merely loaning the banks
| deposits.
A banks chief income is derived On
| from loans, az from trust business. 90
from safety deposit business. "a from
foreign exchange transactions, and 80
from acting as registrar and transfer
| agent.
| It is in this last category that the
greatest development has come recently.
Commercial banks today have invest
| ment departments formed to under
write investment issues. Some have
gone farther. and formed affiliated in
vestment companies, such as the Chat
ham Phoenix, National City, Guaranty,
Chemical Associates, Continental Illi-
nois Co., First National Co. These
actively participate in the market.
Banks have found that with the shifting
of interest to common stocks, such ..
field could not be ignored
Investment companies. associated
with banks, did lose considerable money
in the crash. How much, no one can
say.
This week. when Charles E. Mitchell.
president of the National City Bank
Of New York. waj asked by a stock
holder to make comprehensive re-
port of the National City Co., he de-
clined upon the ground that the di-
rectors have never given out such a re-
port and he did not feel warranted
now in changing the custom.
The department store idea is grow
ing in the banking field. Banks of the
future will be service stations, handling
HdAty tHlcS Ol
New Business Boss.
I entered the Office of a big business
leader. He was sitting, gazing out on
New York harbor-glaSs-top desk clean
of all papers. Waiting, gazing, think
ing. Everything about his handsomely
furnished office was orderly.
What kind of a man is the new
boss of big business developing into
Il asked by WaV of Introduction
The new boss? Surely not one III
goes to his plant in a blaze of SPAR
shooting ahead furtive acceleration c;
activity, barking orders and blowi, .
up at the discovery of one thread t !
many or too few in joint plucksd ]
of bin. But IL he doesn't know -
chinery he does know man. He knG,
that he must work for Sam Smith !
John Jones. but with pride. vsni 4.
greed. ambition, jealousy. hope,
and love-" answered my fIicnd.
The new boss does not look for
perfect balance of these emotions 2! 4
responses in any one man. and Won
probably reject 1t If he found it. =
them, tempered. grooved, polished 81
directed to his purpoSc.''
Just what DO you
He interrupted quickly: TT 4 r
culiar twists. propcnsitieS snd r.
tons are all grist for his mill. a
his job to cultivate and talizc -
individual inclinations, to give
head or hold them in leash, to + -
them upon the problems AMI the 4
OF the business. Fire and water Y
both SaryantS Of mon 60 are or 4