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Show SCHWAB SEES GREAT I PROSPERITY PERIOD FOR AMERICA AHEAD Beware cf Germans' Rapid Recovery From Defeats of I War, He Warns; Steel Maker Returns With Confiden ! tial Message to United States From Pope at Rome. (By Whit Hacllcy ) LAKE WOOD, N. J., March 28. "I can sec nothing nh ead lint unusual prosperity for America' says Charles M Schwab, the steel capitalist and former director general of government shipbuilding operations, who has returned from a six weeks' trip to France and Italv Schwab has brought back a personal message from the pope which, however, how-ever, he will not divulge until his forthcoming speech at the chamber of commerce dinner latc In April. "The message." Schwab explains, ''concerns America ;.nd even to hint ot its nature now would be to break faith with the Pontiff at Rome. ' Just why I went to France ard Italy," he continues, 'and why I was summoned by the pope, cannot be dts-j cussed by me In any way until I nd-j dress tho chamber of commerce " IVOIU) 1BOUT f.i m V "I want to speak word about Ger-1 many first."' he replied. ' This govern-I nu-nt and the allit s. too, must stop rooting themselves "I say with great ecrncstnes-s, he-ware he-ware Germany and beware German i Efficiency. "1 made It a point to get certain acts. I have discovered that Germany h recovering irom the war faster than iny man knows Trance and Italy ni getting on :helr foot, but Germany is almost on lier fe-t, Germany is going to be a ireinendous factor to deal with, and tvftry other nutlon on earth will find ier a relentless competitor, "Germany has been conquered, but er spirit and efficiency are not con-luered. con-luered. "German diplomats fear America. Termany cannot outstrip tn i"nlt-d stites It we keep our heads and meet neasure for measure. "The reparations q,uestlon is very erlous because It continues to keep; exchange unstable, and with exchange, incertaln there must be tremendous vnste and loss GREAT PROSPERITY DUE Miierica is aue ini u . r:w a wave of prosperity in her history. We must have a moderate protective tariff and If this is enacted right away and peace Is literally declared, the American Ameri-can worker will come Into his own. "For then he will be protected from harm through ruinous competition of foreign goods now being assembled in Germany. France and Italy for invasion invas-ion ol the United States. "I studied conditions very caroful! in France and In Italy. As a result I have come to this conclusion with regard to America: "Tho productive resources of the Fniled States arv somewhat in excess of home consumption, it is right that BUCh should be the euse. "If, however, we cannot export this surplus we must at once limit tho production pro-duction of our factories If we can expert it, as we should. w can then keep practically cery factory in th'- country running at full time, twelve months to the ear. "Germany is doing so, France and Italy are trying to, Full time production produc-tion moans mote money in wag's and in profits, It will lower prices fori commodities oi r biercii nt Fid i n "Wc have built up a great merchant fleet, but these ships will have no value val-ue unless we follow up tholr construction construc-tion under out new administration at ! Washington by the Immediate devising i of ways and means for their operation. 1 am not personally committed to any form of merchunt marine opera-' Itlon. excepting I 'want the one that op-j er u-b. "our ships are not only penalized by statue, but they have not even the' single advantage of the fec use of our Panama canal " I find too. that an English ship can actually go through this canal at a lower rats than our American ship "The first step wo must take to maintain an efficient merchant marine IS to permit ships flying tho American flag to pass through the Panama canal If not free, then at lower rati h than are exacted from foreign ships. EFFECT! OF HIGH 1 1 I S "From what 1 have seen abroad I am convinced that excessive taxes tend toward a leveling downward. "The supply of free capital arising 'from profits, in.ste.id of being returned return-ed to Industry. being poured Into the coffers of the government. "It is perfectly obvious now that what big business wants Is precisely what every Individual wants: the opportunity op-portunity to make a living Never was a time more propitious than tho present, but wo. ai staggering stagger-ing 'inder high tax'S on corporation I profits and on personal incomes. "I believe that excessive taxation, while tnklng awa from tho Incomes of the rich, also Is taking away the means of increasing the wealth of tho nation. na-tion. 'In France, Italy and Germany, men and women arc getting together and working hard. "There Is but one way from now on to further decrease the cost of liv-Foundatlon. liv-Foundatlon. and aflor that as Vlce-inrr Vlce-inrr hem and that Is for everybody to get together and work. 'Greater production Is the key to the tremendous wave of prosperity coming to America, and if we are to keet wages UP, as we should, greater production alone will be the cause." -;V-' :' I i 'A I Us m ( II VRl : - m & IIWAII |
