The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-11-28

these channels will be exactly the same
as before the war started.
Europe has been accustomed to take
about two-thirds OF our exports. Al
though the bulk of our exports TO
Europe has consisted Of foodstufs and
raw materials. we hav "a a sub
stantial trade in finished lines Of manu-
facture Europe will probably con-
tinue to take our cotton. Upper ana
similar commodities. The curtailmeht
will In. in our finished manufactures
For some time our sales OF finished
manufacture have increased at q more
r,nii rate IN South America tnan they
have in Europe. The tendency ~ re-
,dius,ments after the war may wen
lao I, throw ,s more n more upon
,,, markets AS an outlet for manu-
features. A.
This is Of peculiar siSnincahee "
the United States, because as a result
81 The war W. should have our destiny
more largely centred in manufactures
For "A number of years the re'd'4|e
I increase in the population oi ou'
manufacturing cities mas peeh 'ne
most striking element In our CROWN
When the war Is over certain thi"Ss
vii, tend to make it even more desira-
h,e Ia engage in manufacturing IN TINS
country.
L.or one thing we have until re-
con,,y maid more for our capital than
h,. i.ap Maid in Europe. This is the
raasnn that such asst sums III Euro
moan money have been put into
! American securities. We are no"
huv,np foreign securities because they
are paving "a higher interest than our
ovp Interest abroad Ia likely 10 De
higher for some time than mere. Ihls
is an initial advantage to our manu-
facturer.
second advantage is the fact that
our manufacturing industry Will be In
better shape from the STANDPOINT OF
orca riza,ion thai are the factories
abroad. We will have some troupie
in turning from the anuractur'h
az war materials to commercial ma
terials, but We x 10 90 'h's
quicker than they can in Europe
In the third place wages may go
down here during the time when
manufacturing Is being shifted from
war materials to commercial ma
terinls. whereby there Will be "A sag
ar this time. II immigration comes
to this country, as seems likely. since
our immigration has always Increased
after European wars, we VIII nave d
surplus of labor. During a time when
there is not enough work to go around
labor disputes are usually at a min
mum. Men are eager to get work at
any price when there Is more thar
one man to "A job. These factors VIII
TEND To decrease comparatively our
costs of manufacturing.
The war is causing "A terrible loss
i'm the purchasing power Of the entire
world. Whenever subsistence III re-
Lucel in amount there IL always a
tendency to meet the emergency by
jmuroyed methods and inventions
This stimulus, as has already been
indicated. is likely to he felt In Eau
rome. It ought also to be felt in the
United States.
Men will have to produce cheaper
To make a profit. We should 60
through a period when we will pay
more attention to ~chcapness or pro
duction. Labor saving devices ant
! labor saving methods will have to bt
introduced even more rapidly thar
before. There will he "A race between
this country and Germany and Eng
land to cut the costs OF production
We have thus far led the world II
labor saving devices and In improved
! methods of organization and produc'
ton. We must look to II that We d.
not lose his prestige when the ties
comes.
7 II the future market for u manu-
features Ia likely to be more an
| more I'm the newer markets Of tn
world and II we are also going +
be more committed to manufacturing
as a nation It behooves us to be pre-
pared to place our goods on thes
markets at n low distribution cos
! Our methods have thus far been In
! ferior to those In vogue In Europ
{ u UlACing u manufactures IN Sout