The daily telegram. [volume] (Clarksburg, W. Va.) 1901-1926, 1915-06-08

by october there was an aetrll bal
sance In onr favor OF S16.000.0vo1
which jumped TO $60,o0e, 900 IN No
lvember. ssO.ooo.e0o,oo0 in pecem-
bre. 100000. 900 in January ana
s145. e04.O0e IN March. which seems
to have been the banner month
Since that time tie favorable bai>
iance has been aroun< three million
collars every day, which means that
the United States, because OF foreign
trade. IS deriving that much acsuh
profit Every time the Geek ticks.
Uncle Sam Is ringing up on his cash
register SIS in a class of profits that
he never before enjoyed
/ The profits that are coming to tne
United States are not que 10 ne fact
that It is saving money by BUYING
LESS AS a matter OF fact. 1t is sell
| fng more materials abroad than 10
ever sold in its history Each sue
ceeding month IS showing that Amer
lea has sent abroad something Ike
hundred mi1lion dollars worth more
than 1t did for the corresponding
months OF last year when there was
peace
! tc steadily increase the profits that
the United STATES will derive from
this commerce There are many IN
auences working to reduce the over
head expenses Those invisible eie-
ments that figure in getting at tne
actual balance OF trade are being
changed
! There is. for instance. the $500.
| 900 900 that the United States had
! borrowed from Europe. and upon
which It was paying interest NO
lsooner did the war break out than
this debt began to be rapidly re-
duced. The debt had been accumu-
lated in some such way as the 1ol-
lowing:
An American city voted to bond 1t
self for a million dollars to put IN
4 Improved water works. Its BONDS
were absolutely good and and were
4 bought by European banking house.
so did European money build the
IAmerican water system, and so dio
the interest on that mony go ABROAD.
lint when the war broke out THESE
European banks wanter their money
They offered to sell their waterworks
bonds on the stock exchange unul
chat avenue was closed men me-
negotiated privately for such sale.
iThey offered favorable terms Amer
lean capital was ready to take up
such bonds at bargain and SAFE
was soon arranged. With Its con
summation the interest on this million
dollars ceased to go abroad but FOUND
Its way into other American pockets.
The amount OF TINS oeDs
steadily cut down.
| For the great mass u Soo ~
are exporting, the payWen1e = LIZ ~ ~ r.
ways in spot casa, ano - 1os lid
bill IS OUTSTANDING. inss go =, o1,r
upon it. WHICH aain was
- 4ta most important feature OF
| the situation, that tends TO counter
/ act the interest charges we have az
ways paid to Europe, is the 1oananS
iof American money abroad. Inc
United States has always been
debtor nation European money na'
always been cheaper 70 oorroW tn 1.su
American money, ana tne Ies9ie -s,-
been that we nave oorIoTe - oses
there. but they have not oo11om w.
i over here The fact that we We" sa7
a debtor nation was not 20 our 9is.
credit We We're q oevet SIa.t. 100 ~
ano neeae oen ' -
! But tne go. .tse ~ E,,cb ratas OF
led to the oHer1ns % 49, ,++Ia.+,,,e
/ interest as 10 make loaS L 80
TO America. S,Nt e1>e +bese
/ has mace IL pos Sioie y aeaf Lone
loans. Inc tenoeacs ~ 49, 81
in the On1teo 49, a,-ored s5.
denced. when sWsoen noo ooa
! 00o.O Ar Ike ono ooS Stesdily
and Russia sS.vvo .,5 THE
TINS oo[roWins uaS .,; Ii bacon,7ne .
United Sla1eS Is raplu tySS.:.-- SC
creditor nation IS aoanoo a bs.
oso pos1et Su " IT, 800 eesj1v. han
the balance OF six billions that stooo
against the United states ~
longer balance. ana .na 81
head charge OF S1Zo.vVo.Vv - II 800 ~,
20 F..rrrore have beer