Show Will Good 1 Times limes Continue I What of our prosperity in the United States after the he stimulation tion caused by the European war ceases T I If we do not lose our heads over ocr the new wealth the good t times will l continue declare loading economic economic and ana financial a authorities b but bit tt r most most of them sound a n warning They the nation to look head ahead to the future when there ther will be bo competition c from flO l the countries coun tries now using their energy on on n the battlefields s Ie A A spendthrift is not enjoying real prosperity while hile he is dissipating dis is- is his inheritance says sars the National City la Bank k of New York that th there must b be something in its January circular It is evident t re fictitious in a prosperity which arises from vast expenditures es which have no permanent economic value and which come in part from a saved up lP fund which may be eventually e exhausted I A country's country purchasing power is great in ratio rut o to it its producing i as all trade is based on on an exchange e of com commodities New a await await the output American factories and mills mills' b but t they S t must have capital with which to 0 purchase England Englan and nd Germany were the bankers for fot many of these markets and we vill have to do their work vork in this respect if we arc to enjoy the thc new trade possibilities r i n 11 extraordinary of ordination co-ordination oldina co tion and ami efficiency will willbe willbe be be necessary in the United Stales de declares s Ilia the National National City Banks Bank's cir lar if we we in ill this country are art to realize any nr permanent gains review of the flue bu business iness year year ear of 1915 with forecast just issued closes with these words WOl S of caution Perhaps In view of the large business already booked and nd the wonderfully ully good prospects th that t unfold themselves to us we we need j I to guard ourselves as 53 carefully frem anticipation seekIng seek seek- X Ing 9 expression perhaps in unbridled d speculation as aSa a short time ago agoy y we t ve needed to avoid being unduly affected by the pes pessimistic 1 IJ tl ns called forth by y the outbreak of the greatest war In history V present unus unusual at t prosperity in iii the United Hed States must naturally ally bo tie considered with the length of the war wai If If the he conflict con- con Vin a long period of f t time and ami the warring nations nation can call pay nay us foe Za t QUI our oui goods there can b ln beno no no doubt of the continuation of good times time's sll in this country The rhe question of J ho how long we yil wc-yil will lend that our our cus customers me s 's at war vai ma may buy is the problem that co constantly is iR before be- be fore the nation It arose h last t 41 August gust HIlll may r reappear at at no great dist distant nt date l r But supposing supposing- that exhaustion brings an ait end 1 to struggle in jn inthe ii the trenches the Bradstreet r I says t I I If contrary to present exp expectations the war ends end shortly an an entirely different set of problems will have hav to to be met In that case 1 a large surplus of munitions would be sure to accumulate here The campaign of preparedness would seem likely to absorb a great part of I 1 these for a time but ultimately a swinging back of much war-order war to the arts of and of capacity peace a widespread readjustment machinery of labor and of wages would seem Imperative We should T 1 certainly be as quickly able to do this as our warring competitors and by that also we v should have been able to familiarize the rest r C o of the world with American products of all kinds Indeed the flood r of of American products of every kind that has penetrated Europe in inthe inthe the past seventeen months has been the highest l kind ind of advertising f for us the important fact being that Europe has paid the expenses I f t There Is lacking evidence that large quantities of goods are being made up to be dumped on us when peace comes though it would be vain to believe that we can hope to escape the competition sure to result when the belligerents return to peaceful trade pursuits If however the war ends very shortly It is well to bear In mind that we in a greater degree than any other country in the world possess the material for restocking old world factories and rebuilding ruined cities Furthermore It is well to remember that In the past two years' years N- N enormous crops sold at high prices the ownership of securities rl repurchased from foreigners and the possession of large quantities of foreign gold we h have ve a basis for prosperity esteemed sufficient tn In n earlier days for a widespread boom Judge rudge Elbert H. H Gary chairman u of the tue board of directors of the t. t Unit United d States teel corporation sizes up the situation in these those words f W Ve at a rapi rapid l pace I fear there is great inflation Th Tre re w l be jars an and jolts when things become normal There e is danger of overproduction of overextension of credit and nd liabilities of overconfidence 1 As the wise individual while his bis earning capacity is good lays aside some of his hi income in bank savings and in insurance policies now the nation is urged by its greatest fin financial authorities to prepare prepare prepare pre pre- pare in m time of prosperity for days of depression r |