Omaha daily bee., 1914-12-06
HARD TO FGTHOM
What Building Activities Will Do il
Difficult to Say.
m NEW YORK $4,000, 900
nntereatlng Review Of Building
Operations ana Future Possi-
bilitiea IN American Con-
tractor December 8.

The following article Is reprinted from
the American Contractor OF December d
BARELY. n ever has there been time
when the future in the building INDUSTRY
has been 90 difficult to scan, as during
the last few weeks and months. Rarely
" ever. have the prospects been 80 tan
TALKING, now promising splendid ex-
pnnsion, now Swallowed by the darkest
clouds OF increduiity. Rarely, II ever
has the interest in this question been so
keen among architects, engineers. con-
tractors ana builders-
II architects and contractors are the
more directly interested vastly largsr
class OF the American people are vitality
concerned. For there IL In the country
no industry, save agriculture in its en-
tirety. that equals IN importance that Of
construction work. Building permits -
sued IN New York City this year will be
about a50oooooO At the same average
throughout the country the total build
ing OF the country would amount TO
about ssOOoOOoooo. The building permits
IN Chicago for the year win reach about
ssoOoo.O00. On that basis the total for
the country would be A.5oo. 100000 The
active work in Philadelphia In 1918 will
total somewhere near tl0OO0.Ooo. At a cor
responding rate the building for the en-
tire country would reach close to $780,
ooo,ooo. The per capita construction work
In the rural districts - doubtless less
than In the towns and cities, but the
majority OF the American people now
live in towns and cities and the growth
OF the smaller municipalities In the great
majority OF Instances equals OF exceeds
that OF the larger cities. II would per-
haps be extremely conservative 70 esti-
mate the total building OF the country
In excess Of $2,0oo,Ooo00 annually or APP
proximately 500 for each family. In lie
final analysis most of the building cost
consists OF labor. And remembering that
the average family income throughout
the country IL scarcely $500. the building
industry looms up as Of commandlng i'm
portance, degree OF Importance not
generally appreciated. II represents
about 20 per cent of the total expenditures
OF the people.
Business PerpIexisy.
Like AL other branches of human az
fort It IL involved more or less at pres
ent In the general business perpiexlty.
Yet Il - az least semi-lndependent. ana
does not ebb and flow IN exact rhythm
With ycneral conditions II possesses 10
considerable degree an Initiative OF its
own. but only 50 far as It Is free from
financial dependence. The one great
cloud that has lowered over the Anerl-
can nation during the last several months
has been financial In ite character. There
have been other contributing elements 10
the slowing down OF business. and come
Of them no doubt important. but N recen,
years large American borrowers had
avalied themselves more and more OF the
piethoric European money bags. borrow
ING there In huge and ever Increasins
amounts. year after year when the
cnili OF war went throush the financial
weird tho European purse strings tight.
eneo ana those Iarga American borrow.
srs. who crossed the seas for their re.
quirementa, were up against H."
Another even more serious coneidera.
ZION was the large holdings OF American
securities abroad In consequences Of ths
norrowins To prevent the dumping OF
these securities on this side. and the
consequent draining Of our gold. the stock
exchanges had TO close. Additional un.
settlement came pending the inaugura-
ZION OF The new banking system II Il
heue wonder that the bankers sat tight
ns,a waited. But those plunRes have beer
taRen and are now things Of the past. II
q OF the future that the building inter.
s..s are now the more vitality concerned
What OF the futuro7
me American Contractor has taken
special pains during the last few days e
SOUND the temper Of the building trade
" All parts cf the country. A large mum
Der os architects. contractors. builders
BANKERS and others have been inter
viewed and their best judgment as 4
inc outlook has been obtained Thes,
Iu1sinenas may be summarized as mos
sheering The spirit Of optimism Is re
asserting itself In all parts OF the countr,
ana the way seems 70 be paved fol
srsater activity.
nesurnins Confidence.
Looking TO general conditions. The "a
turning financial confidence IA no douh
o. prime Importance. The stock exchange,
are gradually reauming their normal ao
tivities. The fear Of the foreign dunn
Ing OF American securities "A IN mart sIs
PEELED. And well Il may be. The new
banking system insures an adequate sun
ply Of currency for domestic heeds. elias
tic enough 10 suit all conditions OF trade
And sheeld the sale Of foreign held sscur
tiles esatn increase sufficiently 70 endan
ser the sold reserves. Il would be as Sin,
pie a matter a. before to again Close IN,
stock exchanged There would be In tha
measure no reflection upon the domestl
financial situation. It would be rnerel,
prosecution 10 retain our gold. consla
erabie timidity continues IN banking ar
eles. induced in large measure bv a.
european var and the Gar. OF a possibl
American Involvement of some sort h,
confidence u rapidly growing thai an
United States can make itself indepen
dent financially az well as politically an
~ that idea STRENGTHENS the skles wi
brighten 70 gorgeous hues. The countr
may not yet be approaching a boor
period but the ailayine OF financial Ia,
that has reeensly occurred, Is an asset 4
almost inealculable value. A eonaitio
that deserves special emphasis Is ina
architects almost everywhehs are opti,ni,
&c Ia the expression Of their views an
the reasonable internretafion 81 ma.