The Bemidji daily pioneer., 1914-12-01
U. s. TO OBTAIN
s400,OO0,OOO FROM
WARRING EUROPE
Foreign Countries Flood Uncle Sam
With Orders for All Kinds
Of Material Means Prosperity
HOME TRADE ALSO BOOMING
Business Men, Formerly Pessimistic,
Have Suddenly Jumped Up and
Hailed Certain Prosperity.
HOME TRADE ALSO BOOMING


A huge river of gold-more than
100000, 900 worth-will soon be
flowing into the United States.
It will come as payment for the
war supplies which European nations
have already ordered from this coun-
try. The figure of 100000, 900, as
founding as it is, covers only the
value of orders for manufactured
goods already booked, and is exclus-
i've of cereals, provisions and normal
exports.
Were the field of American indus
try as arid as the Sahara, it could
hardly fail to grow fertile under the
irrigation of so rich a stream of gold.
But advices from all over the country
show that normal domestic business,
unaffected by war stimulus, is also
to thrive
Hail Prosperity.
That is why big business men who
a short time ago sat in the dumps,
undisguisedly pessimistic over the
business situation, have suddenly
jumped up and hailed prosperity with
a veritable explosion of enthusiasm.
Consider the case of Charles M.
Schwab, president of the Bethlehem
steel corporation, says the Madison
State Journal, which is making a
complete campaign of the nations
business conditions.
A month ago, Schwab said that
conditions in the steel business were
'the worst I have ever seen," and
that the outlook couldn't be more
discouraging."
"Ten Years of Prosperity"
But hardly had he set foot in this
country the other day, on his return
from Europe, when he made the now
famous assertion: II look for ten
years of unequal1ed prosperity in the
United States"
He brought back, besides that
cheerful conviction, steel orders from
Great Britain and France amounting
approximately to OO,OOO,OO0! The
orders will be divided among the
other steel plants of the country, for
the Bethlehem corporation cannot
possibly handle more than minor
part of that huge quantity.
This seems to assure the needed
stimulus to the steel industry, which
is notoriously the slowest. in picking
up after a period of business depres-
sion. The signs of this new pros
perity have been seen in Pittsburg,
center of the trade The Peoples
National bank of Pittsburg after a
careful study of conditions, has just
responded as follows to the nation
wide prosperity survey which is
being made:
Now Looking Forward.
"1n a general way it may be said
that in this great industrial district
sentiments as regards the future is
as optimistic as in the most favored
sections of the country.
"The reason that Pittsburg feels
optimistic for the future despite the
trade contraction of the present is
that our manufacturers are close stu
dents of history. They know that
there is limit to retrenchment, and
they are looking forward to increased
business based upo nthe necessities
of their customers"
Packing Houses Get Big Orders.
Another leading business man who
is iubiliant over the outlook and
wants everybody to know it, is H. H.
Merrick, head of the credit depart
ment of Armour and company, the
great Chicago packers.
"The new frm-We, u. s. & Co.
has world trade at its feet" Merrick
says: "It comes home to us that our
present is safe, our future certain.
"Big business from now on is a
FACT and not a theory. Depression
in some lines is more than counter
balanced by the boom in other lines.
The October export balance in favor
of American trade was over $780,
900, 900, as against $16,000,0OO in
September.
Domestic trade is increasing in al
most all lines. East money-which
is assured-plus confidence, plus tre-
mendous exports on cash basis,
make prosperity in domestic trade a
certainty For us opportunity vio-
lates tradition and thunders at our
doors It cannot be denied admis-
.sion.''
Cause Optimism.
War orders have brought optimism
to another packing house the Cuda-
hy company-which is about to open
for the first time in several years it's
big canning plant in South Omaha,
Neb., to fill a British order for s, :
100000 one-pound tins of canned
beef.
Continued on last page.)