Evening journal., 1915-01-01

The total value of the agricultural,
manufacturing. mineral and forestry
products of this country exceeds
$40,O0O,O00,0O0 year. or recent
years we have exported about to
per cent. OF this. or from $1,000
100000 10 S2400. 100000 annually
Thus less than one-sixteenth Of the
total value Of our products has gone
abroad.
While this $4,000. 100000 of value
represents the output OF the coun-
try, IL does not, of course, begin to
represent the volume Of trade. These
products are sold and resold, giving
employment and profit TO millions Of
people They are transported back
and forth, furnishing freight to the
railroads and employment to other
millions. They arc the basis of all
Of our business life. But even in
their primary state the output is
S40,000.000,0 while we have ex-
ported only to per cent. Of It.
We are now exporting. partly by
reason of the heavy demand in Eur
ope for war munitions. probably quito
as much as during years of peace.
Indeed, it is quite possible that the
total exports of the coming year.
Notwithstanding the decline in the
price Of cotton and the smaller OK
ports of that staple, will equal the
highest exports we have ever had,
and possibly run far ahead. It is
true that this is due TO war cOndi-
tions. Nevertheless, the goods have
to be made and sold and shipped, and
the money comes back to us. or the
agricultural products have to be
raised and exported, and they, with
the exception Of cotton, are being
sold at a high price. What is there
therefore, in the European situation
to have any such effect on our busi-
ness interests as to bring about pre-
sent depression? We are selling al
most as much to Europe as formerly
and If we are not, because of thC
war, importing as much, it merely
leaves a larger market at home for
our own manufactured products. sc
far as our foreign trade, therefore
is concerned there is no foundation
whatever for inactivity in trade. OK
cent as to cotton. and this will bc
Offset In the total volume by othci
exports
We have just as many people as
we have ever had, and their number
is increasing at the rate of about I d.
100000 a year. making more mouths
TO feed and more bodies TO be clothed
The war has not in any way les.
sened our natural resources. It has
not destroyed our timber, our coal
our iron, our watcr-powers, nor any
.faI
give us an unmatched combination
as compared with any other equa
area in the world
Europe is not buying heavily Of oul
securities. but. on the other hand. We
are keeping ~ home the several hun
dred million dollars that our tourists
have annually spent abroad more
than ofsetting the decline IN Eur
ope's annual investment in our bonds
and stocks
What. therefore is the matter will
us?
We know that the tariff has had ;
depressing effect on many lines o
industry We know that Il has prac
tically destroyed some But even an
adverse tariff. bad as il is. is not I
fun explanation for the timldity an,
fear and lack of business PREVAILING
throughout the country We ough
10 repeal the present destructive tar
iff-destructive of national income al
well as destructive of business. Bu
look still farther.
We know that for the last tel
years there has been a relentless
war upon business. big and little w,
know that the railroads have beer
very nearly throttled TO death b,
adverse legislation. State and ma
tional. The country has gone on tn
theory that men would continue Il