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Show URGES BANKERS TO HELP SGLVE THE PROBLEMS Frank A. Vanderlip Tells of Conditions That May Arise at Close of Struggle Strug-gle in Europe. CHICAGO, Dec. 16. Frank A. Van-dflrlip, Van-dflrlip, president of the National City bank of New York, adclrft suing the Chi cago cankers club tonigbt, warnea bis auditors that tho United titates would have to meet economic, and social problems prob-lems as a result oi" the European, war that would tax tho ingonuity and re-courcet'ulnfiBS re-courcet'ulnfiBS of tho nation, and called upon the bankers to prepare to aid in the holution of tlie.-e problems. The belief that the United States could proceed along ite own way, un-aflVictod un-aflVictod by the war, and seeking only to keep out ot' it, he declared, boomed a luck of imaginiition, blindness of vifliuij and a complcto failure to under btund tho unity of tho industrial, coui-niercial coui-niercial and financial world. 'l-'nJewa I uttorly misjudge affairs," he said, "there are roi ng to develop for this country problems of the gravest grav-est import problems that will need for their correct nohition the attention of the most enlightened minds. What May Happen. "State socialism in Europe may de-delop de-delop the like of which never concerned our minds. We may have to meet collect col-lect ivu buying, state-aided industries, forms of governmental co-operation with business quite outside our range of thought. Government control of oceau-borno commerce and novel factoid in international iiuanco will be subjects sub-jects for national consideration. There may come out of the" war changes in forms of government that will have profound pro-found ana world-wide influence." Mr. Vanderlip reviewed the resets of tho war in tho United States up to the present, tho increase in gold supplies, sup-plies, the development of credits. Discusses Legislation. He discussed national legislation, with praise for tho federal reserve act and the federal trade commission. Mentioning tho federal farm loan board, he said: ''Docs not tho objection to the principle prin-ciple involved when government relations rela-tions aro injected into Dtisiness lie quite as much with bankers as with the legislators legis-lators 1 Will wo not always find the people groping to do through governmental govern-mental agencies things that are left undone un-done or are badly done by individual initiatives) Must we not safeguard the future from an unwise participation of government in business by seeing that business is so well conducted, so fairly administered, so completely responsive to legitimate needs that there will be no sound reason for government participation partici-pation 7 Essence of Anarchy. "Within a week I heard the representative repre-sentative of four great railway unions state bis views before a New York club. To my mind they were views that contained con-tained the essence of anarchy. We were told that we must not pass certain laws, because they would not be obeyed; we were given clear intimations regarding the power of these organizations, organiza-tions, but there was not one hint of thoir duty or responsibility to society. "I am hopeful that such utterances do not voice truly the attitude of the people of America, n,or of any great part of organized labor, but they certainly cer-tainly emphasize the need for a national awakeniug to the need for sound thinking think-ing on economic problems. ''It is easy to see that the unsound, unwiso, the wrong solution of these problems that are pressing upon us will cost an immeasurable sum of potential wealth, of individual happiness and national na-tional progress.' Mr. Vanderlip declared he believed the federal reserve board had ruled unwisely un-wisely in advising against investment by member banks- in short-term obligations obliga-tions of the belligerent governments. "I believe such action by the bafflis would be wise from a strictly banking viewpoint," he said. ''Such an investment invest-ment would tend to restrict further gold importations, which may lead to dangerous danger-ous domestic inflation, and would provide pro-vide credits which would be better than gold when eventually these exchanges turned against us." |