The daily telegram. [volume] (Clarksburg, W. Va.) 1901-1926, 1915-04-07
THE HAS KIN BETTER
World Wdr and Prosperity
BY Ereder,s ). Haskin

N By Fred
The most vital question for Ameri-
cans involved in the European war is
how Wilt ultimately affect them.
Many economists predict that the war
will be a great stimulus to American
industry, in general. as 1t has been al
ready to some industries in this coun-
TRY; but the advent OF widespread
there are not lacking students who
assert that the waste and impoverish-
ment OF the great conflict must react
upon us--5that the whole world must
pay for the world war.
In the face of these convicting opin-
ions as to the immeuIate future OF
american business, it is interesting to
mote that European war gave us our
FIRST great impulse toward national
prosperity. In 1893 the ruthless
Ecourse OF the Man OF Destiny had in
volved almost the whole of europe In.
war. The United States, just come
into being, began her first great era
or industrial expansion at that time
Certainly, there were tremendous
Idlrerences between the infant repub-
lie OF the latter part of the eighteenth
1 Cntury and the United states of today.
| With an era of about $4,000 square
miles. our population, as shown by
the first census in 1890, was only
about 3,900,OOO. Philadelphia was
the greatest city OF the United States.
with population OF $4,000, while
New York stood second. with 80 900.
Charleston was the largest city In the
South, with $4,000 Inhabitants. there
being no other city south of the Poto-
mac which contained as many as
1000 people. Abaut 95 per cent Of
all the people were engaged in agri-
culture and lived on widely scattered
farms and plantations. The South
4 mad one important advantage over her
present condition in relation to the
European war, in that the cultivation
OF cotton was just beginning, and
grain, pork, rice and naval stores
were her principal products.
The difference between the United
States in 1893 and in 1915, however,
We're more of size than of kind. We
are still primarily food-producing
nation, as we were then wholly one
All OF the countries Of Europe are
turning to us for foodstuffs now and
most OF them did then The situa-
tons are really parallel In many re-
spects, and many of the importan.
results Of the world war of 1893
were strikingly similar to those we
have experienced in 1915.
Thus, one Of the first effects Of the
war OF 1893 upon this country was a
rise in the price Of wheat to more
tLan 50 bushe1 There was no
Chicago pit to become wildly excited,
but the spirit Of speculation was.
nevertheless, rife. and merchants in
vested great sums of money in food
stuffs for the European trade.
4 few days ago, the Department of
i Commerce published figures showing
4 that our exports Of breadstuffs during
the past year have increased from
u Y415 100000 to $ov. 100000. IN
AXE manner the value Of our exports
to Great Britain increased between
1895 and 1901 from $6,OOO,OO0 to
$3O,OO0,000. In 1893 as now, the
grayest difficulty encountered by our
foreign trade was the restrictions
imposed by belligerents upon neutral
commerce. Both France and Britain
Were seizing and OBTAINING our vessels
and our government faced very much
1.-THE same delicate suestions that it
5iuoes today.
In fact, the more one investigates
the state Of American business in the
latter part OF the eighteenth century,
the more he Is struck with the fact
that history has repeated itself. for
tone Of the issues before Congress at
that time was the tariff Hamilton,
seeing8the rush. Of prosperity brought
by the European war would give an
opportunity to build up manufacture
ing industries In this country, advo-
Gated the placing of duties on manu-
/ featured articles. "A bill was intro
lduced holly debated in Congress- The
record of those debates shows that
the congressman and senators of to-
/ day are using the same old arguments
that We're good IN 1880. Thus, Mr..
Madison, in the house of8representa-
tStlves. pointed out that a protective
tariff would not only encourage In
dustry, but would make US independ-
Ient of other nations in time or war
and be an excellent source ofrevenue.
4 BE then proposed an adEyalorem duty
on unwrought steel Whereupon. the
Hon rable Mr.. Tucker leaped to his
feet and declared that any duty on
steel would be an. injustice to the
farmer. who would thenxhave to pay
more for his plow-shares and other
implements, and he proceeded to:
eulogize the American farmer exactly
| Xix q corn-belt con gresham OF tod ay.
Then. as now, one Of the chief diff
! ticulties OF commerce was the scarcity
OF money, although here the case IS.
hardly parallel. In 1898 there was
no stringency due to the reluctance OF.
capitalists to invest their funds. but
there was a scarcely of actual coin with.
which to tE.nsact business. Our first
mint was established in 1893, and It's