Evening Republican, Volume 21, Number 134, Rensselaer, Jasper County, 22 June 1917 — FALSE ECONOMY IS THE REAL MENACE [ARTICLE]

FALSE ECONOMY IS THE REAL MENACE

Stop Wastage of Food, but Do Not Curtail Necessities, Says J. Ogden Armour. URGES “BUSINESS AS USUAL” Continuous of Great Prosperity That Has Ruled Country for Two Years |« Assured —Billions Loaned Allies to Be Spent Here.

k Chicago—The United States is in a position where optiipism is justified, according to J. Ogden Armour in an interview discussing the economic condition and future of the nation. “The prompt adoption by the American i people of the ‘business-as-usual’ idea is going to enable this nation to prosecute war without experiencing a temporary depression such as England and France have recently recovered from,” said Mr. Armour. “Modern war requires the expenditure of huge sums of money and means maximum employment and high wages for all 'workers. Other conditions, peculiar to this war, make it certain that this nation will enjoy a period of business and industrial activity tiie like of which has never been seen and which is assured whether the war lasts several months or severhl years.” No Reason for Alarm.

“But suppose people become overcautious as the result of the preaching of war economy—then what?” he was asked. “There is some reason to believe,” he answered, “that economy rules will be misapplied for a while, but conditions are such that the public will soon see, if they have not already, that there is no occasion whatever for them to become alarmed. “Continuation of the great prosperity that has ruled in this country for two years is assured. There is an abnormal dertanh for everything the workers of this nation can grow or manufacture. There is work at high wages for every man and woman who wants work; the earning power of the people is restricted only by physical limitations; the buying power of the public is greater than ever before.. There are certain guaranties of continued prosperity arid of an ever widening scope to our business and Industral life.” Releases Billions Here. “How about the billions of dollars we are lending to our allies?” he was asked. “Wouldn’t it be better to keep that money at home?” “As a matter of fact, it is a misnomer to call it a loan to our allies,” Mr„ Armour said: “We are primarily expending them credit. Instead of sending billions of dollars out of the country, tlie transaction means that billions of dollars will actually be freed for circulation in this country. Practically all of the billions we lend our allies will be spent in this country for the products of our soil and our factories and for payment of our workers. “We are the storehouse and the factory of the world now, mid the more money the world can get hold of the more will-be sent here, and the more that comes here, the more vyork and the iribre business will result.- And in this connection?-remember the government of the United States is now a buyer for war purposes and the dollars of Uncle Sam already have begun to pour forth to stores, factories, and farms to pay for the expense of mobilizing, drilling, equipping, and feeding tire army and navy. “Under the civilian boards gathered together by the president to direct the great work of preparation, this nation is going ahead, fortified against delay and mistakes through the intelligent application~of thq, lessons learned in England and in France. This applies to industry as “well as war. Time Most Auspicious. “I consider the present the most auspicious from the standpoint of national prosperity in my memory. There is not one good reason why the business of this country Should not proceed in Its normal course and op ever increasing lines. There is not one reason why people- shoaid fear for the futbre or Should peimit themselves to be swayed

from the certainty that they are on a sound financial basis. The per capita wealth of Americans today is greater than ever before —greater than that of the people of any nation at any time in the past or in the present. “Whether the war ends tomorrow or whether it lasts indefinitely this- much is certain: The United States, having possession of approximately 40 per cent of the) world’s supply of gold, the greatest natural resources and geographical isolation, is certain to suffer less than any other nation in the war or in the whole world. . “The nation has been advised to economize on food. Economy means the intelligent use without waste; it does not call for self-denial. Economy was recommended to stop the waste of the $700,000,000 worth of food which goes into the garbage pall each year. The wave of patriotism sweeping over the country should not- seize upon parsimonious economy as a means of expression. There is mo need for people to cease purchasing; there is need only for the elimination of extravagance and waste. There is no reason whatever for curtailment of the use of things ordinarily needed by people; there is need that everything be put to use. “As patriots, it is our duty to stop the wasteage of food; as patriots it is equally important that we do not stop the ordinary purchasing on which the business and the Industry of the country are founded. Hysterical economy is as much a menace to the nation as is prodigal waste.

Keep Faith, Advice. “Faith is the great need of the people today—faith in Providence to lend might to our right, faith in nature to respond bountifully to the wonderful efforts of our agriculturists to Increase the food supply to provide a surplus for our allies, and faith in our government which has taken hold of the problems before it in a way that demonstrates it is deserving of out faith. “If I were asked,” concluded Mr. Armour, “to give a message to the American people—to the farmers, the wage earners, the merchants, the manufacturers, and all—it would be this: "Be strong in your faith that nature will reward the efforts being made to produce big crops and co-operate with our president, Woodrow Wilson, in his efforts to keep the nation composed and so organized as to most efficiently prosecute war. Be confident and- live your normal lives, as far as possible. Make business proceed as usual.”