Ladysmith news-budget. [volume] (Ladysmith, Rusk County, Wis.) 1907-1927, 1915-08-06
(From a Business Digest" Furnished
the News-Budget by the EauCiaire
National Bank.)

year of the great European war. The
impoverishment of Europe, while in
evitable if the war lasts long enough
will not be as rapid as is popularity
believed. The agricultural area
planted in Europe, the number OF
factories operating and their output,
the condition of business in the
belligerent countries outside Of the
war zones-all Of these go to prove
the great resourcefulness OF the
countries now at war. Until very re-
Gently, the factories Of Germany
were buster than the factories in
our own country and those who be-
lieve that the fields Of Germany, Rus
STA, Italy, France and even Belgium
are not being cultivated to the limit,
are misled.
The principal banks OF the warning
nations hold more gold today than
they held when the war began. The
statement credited to the German
bankers, who informed the Emper-
or that the country would be bank
rupted by another winters campaign,
probably meant that the Government
would be bankrupt as the country it
self has a wealth and a resOurceful-
ness which would carry it through
several years Of war Germany is
more likely to find itself short Of
men than short Of munitions or
money. The entrance OF Italy into
the war and the fact which has final
ly leaked out that Kitchener, while
pretending to organize an army OF
one million men has really organized
an army Of four million men, are
two factors which will naturally
tend to shorten the war When
Germany finds herself short Of men,
when Russia finds herself short of
munitions, when France finds herself
short Of money, then the war viii
end because England would naturally
be glad to end it at any time, hay
ing nothing to gain through its con
tinuance.
The business situation in this cOun-
try is no better at this time than
it would be had there been no Euro
pean war. To be sure, We are doing
a lot of business in war supplies and
fOodstuffs but, because of the war,
other lines have been held back. We
need have no concern as to What
will happen to our business should
the war suddenly end, because, while
the end of the war would mean the
end of our exports Of arms and eX-
plosiyes, these items form only a
small part of the totals of our daily
exports, even at this time. The end
of the war would mean the begin
ming of much business in this coun-
try which will probably not be TAX
en- up until the European trouble is
settled. The darkest spot OH our
map of business is trouble with la
bor-disagreements, strikes and lock
outs. Some of these troubles are
doubtless due to the activity of for
eign spies in this country and the
remainder Of them due to the cupid
ity, Of the employer or employee,
seeking to take advantage Of the
present situation to drive a bargain.
The result of these labor conditions
is a loss to everyone and the sud
den termination of the war would
leave those involved in strikes and
lockouts in bad shape indeed. Both
sides to these controversies would do
we'll to look toward recent events in
Chicago where the street car strike
was satisfactorily arbitrated and
where the building trades strike is
now being settled Just at this
time it behOOveS all of us to arbi-
trate our differences but keep the
wheels moving for, if they are stand
ing still when the war ends, they
Inlay SCdnu SIiIl 1OI Il lUllS time d1lU
some Of them may never turn again.
During the year ending June goth,
We increased our exports by 435
million dollars and decreased our i'm
ports by 234 million dollars, which
increased our favorable trade balance
over the previous year by $40 mil
lion dollars Our exports were $500
million dollars and our imports 1860
million dollars, leaving favorable
balance of lao million dollars to
compare with a favorable balance Of
SOL millions in 1913, the previous
high record. During the year our
gold and silver exports increased by
20 million dollars, our gold and sill
yer imports increased 50 million
dollars, but the balance against US
in gold and silver for the year was
still three million dollars. This for
eign trade statement brings us up
to June 80, 1915, at which date, the
real export of war materials had only