Jasper County Democrat, Volume 19, Number 58, Rensselaer, Jasper County, 18 October 1916 — PROSPERITY NOT DUE TO OEMS OF WAR [ARTICLE]

PROSPERITY NOT DUE TO OEMS OF WAR

Bulk Comes From Ordinary Business Channels, Declares Charles M. Schwab. S2,SOO,OOO,OOOTRADEBALANCE Department of Commerce Shows Vast Gain in Wealth Under Wilson-. Munitions Business Is but On* Per Cent, of Total. In answer to the cry of Republican politicians, that the unprecedented prosperity that has come to America under the administration of President Wilson Is due to the European war oaders, comes a statement from Charles U. Schwab, bead of the Bethlehem Steel Company, himself a Republican, that refutes the charge. “It is a mistake to imagine that the major portion of our business ia war order business.* says Mr. Schwab, in a signed article in the October number of System. -Even a casual inspection of the great volume of exports will demonstrate that {he bulk ia drawn from the ordinary course of business, it is also found that, at present prices, domestic business Is as profitable as foreign munition business.* No one can doubt the capability of Mr. Schwab to judge the business situation. nor can one gainsay the recent figures Issued by the Department of Commerce. In this report, it is stated that, daring the first eight months of the present fiscal year, the exports of the United States showed a trade balance In favor of this country of $1,730,000,000. , | Trade Balance $2,500,000,000. Predictions are made that the trade balance for the. entire year will exceed the unprecedented figure of $2,500,000.000. The value of the export* for the eight months was $3,43.>,969.212. an Increase of $1,206,8X2,100 over the same period last year. Another financial authority, too, has spoken—Charles Hayden, of Boaton. lie estimates that American securities held abroad have been reduced from 90.000.000.0001 before the war. to $1,000,000,000 at the present time. Coincidentally, the United States has become a creditor of foreign nations, for the first time In history, to the extent of sl/4)0.000.000. Under Wilson. therefore, we have, wi|*nf out $6,000,000,000 of foreign indebtedness, and are a creditor to the amount of $500,000,000. Mr. Hayden calls attention to the fact that this always was a debtor nation under Republican rule.

All Classes Prosperous. And so. from all sections of the country, from all kinds and classes of business, from the merchant, the manufacturer, the farmer, the workingman. come reports of Unparalleled: prosperity. The Chamber of Commerce of the United States, in am official report, declares that basic stocks are rising, that railroad earnings are abnormally bigh (Indicating the greet movement of commodities), and that the national prosperity will continue. Not temporary prosperity, due tothe war, is this that is filling the coffers of the nation. It has a sound basis for permanency, made certain, by the laws enacted under the Wilson Administration. The President himself, in his recent speech at Baltimore, emphasized the value to thecountry of the Tariff Commission, theTrade Commission, the Federal Reserve Board and the shipping MIL These enactments not only will stimulate the productiveness of the country, hut will safeguard Its output and provide a means of conveying It to all the ports of the world. How Business Has Gained. Here Is Just a glimpse at percentages. prepared by expert statisticians, that prove what the Wilson Administration has done for the people: Increase in bank deposits, 68 per cent.; money in circulation. 22 per cent.; stock of gold in United States. 34.1 per cent.; foreign commerce, 52.7 per cent.; balance of trade in favor of United States. 287.6 per cent.; agricultural exports. 44.1 per cent.; manufactured exports, 155 per cenL; railway revenues, 37.6 per cent; value of general crops and live stock, 12.4 per cent.; value of wheat crop, 67.5 per cent.; output of pig iron, 35 pa* cent.; production of steel, 355 pa cent.; farm lands. 12.7 pa men employed In manufacturing. 232 per cent;, wages paid in manufacturing. 4L5 pa cent; capital employed in manufacturing. JO2 pa cent.; valueof manufactured products, 412 pa cent. So It may be seen that all lines ot industry have profited under the greet wave of prosperity that the Democratic administration has wrought AND THE MUNITIONS BUSINESS COMPRISES ONLY ONE PER CENT.. OF THE TOTAL OF MANUFACTURED PRODUCTS. la it the part of wisdom, to gamble with prosperity such an thief Will the American voter dare ta throw away a sore thing, on the chance that his return may be the devastation! ***