The silver state. [volume] (Winnemucca, Nev.) 1909-1925, 1915-08-03
WARS QUESTIONABLE


Opinions vary as to whether the wal
in Europe is Of any material beDent
to the people of the United States,
notwithstanding the fact that there is
now q large trade balance in favor OF
this country. The San Francisco
Chronicle is one of the newspapers
that do not believe war is Of perma-
nent benefit to a neutral country.
Among other things the Chronicle
y
1.-THE total trade balance in favor OF
this country for the last fiscal year
has been ascertained 10 be $1,094,422,-
1872, which, doubtless, greatly exceeds
any previous trade balance. Moreover,
the balance Of trade more nearly than
in any former year represents the bal
ance Of payments, which is a very diff
ferent thing from the balance of trade.
So long as we remain a debtor nation
it is necessary that we have a fayora-
BILE balance of trade, or we should go
broke. When the tire comes, as doubt
less it win come, when our permanent
foreign investments yield a large an
nual net income, if the balance of
trade is not against US, those who owe
US viii not be able to pay. Our unfa-
yorable balance of payments has been
reduced by the retention at home Of
most Of the expenditures of tourists
and by the interest due on American
securities which we have brought back.
Our balance of trade has been i~ncreas-
ed by a falling IN of imports to the
amount of nearly $500, 900, 900 during
the first eleven months of the fiscal
year. We have doubtless paid more
han the usual amount to foreigners
for freights and marine insurance.
"The only comfort to be derived
from our enormous favorable trade bal
anee is that to the extent that it con-
sists of wal materials it supplies work
for a great many thousand people who
would otherwise probable be out of
work. Doubtless that is something.
But that is partly Offset by the uneln-
ployment arising from the fact that
we are unable to get crude and partly
manufactured products essential to our
Industries which we do not produce, or
can get them only ON contracts not to
export the manufactures produced from
them. Dyestuffs, potash and rubber are
familiar examples of commodities
which we need and cannot get.
But our greatest expansion is not
III munitions of war but in foodstuffs,
in which our increased exports for
eleven months was $4l0,285,I87. And
this was by no means wholly in in
creased quantities, but was largely in
increased prices. Doubtless that help
ed the farmer who had grain and meat
for sale. But the war demand not on
ly increased the price at which we
sold foodstuffs to belhgerents, but
made an equally large increase in the
vastly greater quantities which we con-
sumo at home, and which is felt in ey-
cry household.
1.-THE loss by the war to our cotton
growers is notorious. That may in the
end be found a blessing in disguise if
it causes the southern people to diver
SHY their products. They are to some
extent doing so this year. Possibly
the greatest loss of all may come by a
sudden end to the wal and the cancel
lation of untitled contracts by pay
nent of the expected profits, leaving
the vast number of employees a1oat to
live as best they can during the period
OF readjustment.
There is no money to be made from
wal by any nation, however neutral.
Certainly not by us. The wa has de-
ranged our commerce, spoiled our per-
manent markets, impoverished our
debtors, imperiled more enterprises
than it has helped, and turned the
thought and effort of our people and
of mankind from construction and pro-
gross to destruction and recession.
"War is hell, and it has no redeem
ing feature"