New Britain herald., 1915-07-31
BUSINESS SITUATION
 HERE ENCOURAGING
Foreign Commerce Shows Total
 Exports of s2,76S,000,000
(snecial to the Herald.

\ "
 New York, July 31, 1915.-war has now been waged for prac- tically full year, and during that time nearly two and a half million lives hve been destroyed and about ' SIT, ,000, ,000,0 issued in loans. These figures do not include wounded and missing, nor the amount lost through damage to property, derangement of trade, etc, all Of which are incalcul- able. In some instances the losses will be as great as they appear, for the reason that armies and fleets would have required usual pay in time of peace. and both would have been con- Vsumers of food and clothing though on a less wasteful scale No one can estimate or even approximate the real property losses of the war. Some authorities have put the figure thus far at $25, 5,000,O00, ,000 and over. Tho moral and human damages, however, must be regarded as vastly more ser ious than property losses. So, too, is the inevitable setback to civilza- ton which this war will impose. Ma ~terial losses at first seem the most imposing and create the greatest i'm pTession Nevertheless, they will be the first forgotten. Infinitely beyond these must be ranked the awful vast age Of the flower of humanity. Pro- perty ruin will be chiefly remem ber- ed in the form of big debts, heavy taxation, ruined cities, while the loss of valuable lives will be reflected ii, saddened homes, less virile popula- ton and other losses beyond calcula. ton
 Should the war not last more than acouple of years, the cost will prob ably be borne much more easily than expected. All Of the countries in- volved have grown greatly in wealth and population since their last great war; and in view of the increased . wealth and earnings per capita this struggle may weight no hevier upon the present belligerents than previous great wars. Each nation, even Ger many, upon whom the strain will be greatest, will show unexpected ca pacity for. both resistance and recu- peration
 Foreign Commerce Increases. -Four foreign commerce which has ybeen. seriously dcranged by war show ed total exports of $2,76S, 100000 for the fiscal year ending June 30th, an increase of $214.000.U00 over last year. Imports during the same period aggregated s1,s74, GOO ,ooo, de- crease of $219,00O,0OO during the twelve months. These figures left Ban excess of $1 ,094, 100000 in ex- ports, or $623,O00,O00 more than a. wear ago. They are about what was expected, and plainly reflect the ab- normal difficulties under which for eign trade is conducted. At the mo-. nient the foreign exchange situation IS less acute, but In a few weeks the outward movement of grain a nd Acotton will begin and the shipments of war munitions will continue to ex- pand for months to come; so that in the absence of larger imports con- tinued heavy excess of exports must be anticipated for the remainder of d the year.
 All indications on the Stock Elk change point to reviving activity. Transactions have been largely trans tferred to the war group, which now constitute one-ha1f to three-quarters of the daily dealings. The advances in these shares have been extremely sensational. Tn some instances they may be Justified on account of the
 enormous and very profitable con-
 tracts for ammunitions which it Is
 known have been secured. The dif1i- V cuity of securing accurate information < regarding these contracts. however, ' affords abundant room for exaggera-
 ton and misrepresentation. Naturally
 the speculative spirit has been keenly