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EVER before were
conditions tending to
j promote the national
; welfare of the United
States so favorable as they
are at present. The nation
has been passing through a
period of transition ; the busi-
ness world has adjusted, or
is adjusting, itself to new and changed con
ditions resulting from the great wealth and
progress of the country. But, the investing
peoples of other nations are asking why it
is that our business prosperity is so fre
quently and seriously interrupted. They
wonder why it is that, with our great and growing wealth and re
sources and our superior advantages, we are not more continuously
prosperous; why we are not
more stable in prices and values
and in general conditions; why
there is ever any disposition on
the part of any one to interfere
with the normal development of
American industries.
I venture the assertion that it
is largely because of much un
necessary agitation and ill-considered
criticism by those who
have not the nation's best inter
ests at heart. There is too much
demagogy, too much mud-slinging.
The man out of office criti
cises the one in office, and the
one in office in turn seeks to
advance his own interests regard
less of the effect upon all others.
TN many public speeches, and in
magazine articles, the authors
are influenced by motives of self
ishness or cupidity. Appeals are
made for the purpose of creating
a feeling of dissatisfaction and
unrest when it is unnecessary
and unjustified. It is not un
common in public discussions to
treat success as an offense; to
consider the possession of wealth,
however honestly acquired, to
be wrong. Legislation calcu
lated to create classes is urged
persistently ; also laws to impose
unnecessary and unreasonable
burdens; to take forcibly from
one something which he ha and
is entitled to have, and turn it
over to another ; to prevent or to
lessen the success of legitimate
enterprise and endeavor.
Capital, always timid, has been
seriously affected by this hys
terical agitation and attack. In
deed, it is becoming frightened.
Confidence has been shaken. It
is becoming almost impossible
to secure, on fair terms, on good
security and at a reasonable rate
of interest, the necessary capital
to equip or liberally maintain
going and successful properties,
to say nothing of the additions
and extensions which the inter
ests of this great and growing
country demand.
The stability of business,
which is essential to its proper
and
GOOD TIMES AND THE
BUSINESS DUCKING
By Judge Elbert H. Gary
Chairman of the Board of Directors United States
Steel Corporation
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HYDRAULIC-PRESS BRICK COMPANY
Dept. S-3 St. Louis, Missouri
Largext Manufacturers of Face Brick in the World
BUANCH OFKICKS: Baltimore. Maryland: Chicaro. Illinois: Cli-Trland.
Ohio: Uarenport. Iowa: lnjboia. 1'cnntij iTania: IndianuiMilis. Indiana
Kansas Ciw. Miaaoori: Minnt-aimlio. Minni-soia: N.'w York City: Oniaha.
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and reasonable growth and success,
has been interfered with. Our great
and prowinc nnniilation ran hg
products; it needs food and clothes
material to build; and it is willing and
anxious to buy them. It is in need of rail
roads and ships, with the best equipment,
to carry these products from one point to
another, and it is willing to pay fair rates
tor me service.
Laborers are willing to work at a reason
able wage, and employers are anxious to
furnish work and to pay liberal compensa-
uwu. aiic dairying companies are desirous
ot providine necessarv facilities for arlr.
4-""c uansuoriaiion. rroaucers in an departments ot industry wish
lu ainaiy ucmanas ior meir products at tair prices, and to that
end they would make the neces
sary increases in capacity. And
those who are able are quite
ready to furnish the capital, pro
vided they can be certain of pro
tection against loss or risk.
Business has had a ducking,
but is drying off and is ready
and eager to take a fresh start.
The volume of business at this
time, although large because the
country is so vast, is not half so
great as it ought to be or as it
could, be. It is high time for all
of us to wake up to a realization
of the fact that we are in compe
tition with other countries, who
are striving for supremacy.
Why discourage honest, sincere
movements which are intended
to maintain a fair equilibrium
as to the rights of all classes of
people ; or those intended to pre
vent oppression or wrong; or
such as may furnish full and
equal opportunity to every one
honestly and properly to advance
his own welfare and interests?
THE PEOPLE of a nation
A prosper or fail together; the
unnecessary destruction of one
or of a few adversely affects
the whole body; and, while
the application of the principles
of good morals is of the highest
importance, the man whom it is
sought to influence by these con
siderations lends an unwilling
ear unless, at the same time, his
material wants are satisfied.
There is placed upon those in
power and authority at the pres
ent time a very great responsi
bility. No doubt they will meas
ure up to it. What I have said
has not been uttered with any
feeling of despondency. On the
contrary, there is ground for
optimism. We have, perhaps,
been more or less enveloped in
clouds of doubt and distrust and
hesitancy, but I think we are
now approaching the dawn of
the greatest prosperity.
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OONTKNTS COPTBlOHTEn. 1914. BT Tm! ABBOTT BRIGOS COMPANY
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