The Richmond Virginian. (Richmond, Va.) 1910-1920, 1915-10-31

Win tne exception OF the COST Oh
living, which continues to move stead
lily II slowly upward, conditions in
this country are more favorable thar
ever before, says the November BUSH
ness letter OF the National Stat. ano
City Bank. 1t continues:
The country is entering period
of prosperity and development. In
spite O.. all difficulties and drawbacks
the people OF the United States car
!oox forward with reasonable Ger
a,nty to many years of steady and
Substantial well-being
Financial Strength Of United States.
Dr. E. T. Pratt chief Of the Bureau
OF Foreign and Domestic Commerce,
in recent address at the annual rn-
vention of the Investment Bankers
Association OF America. pointed out
the growing financial strength of the
United States in the family Of ma
tons and the opportunities thus Great
ed for future prosperity.
Ogs Pratt emphasized the fact that
ths fundamental strength Of the great
nations OF Europe depends to con
siderable extent on the large amounts
Of money they have invested abroad
ard thar the time had now con,e
when the. United States, instead Of
drawing in money is able TO give out
surplus cash.
In this connection. DR.. p-aft showed
that Americas ability to loan depends
upon the savings of the people. ana
that, therefore. there never was 4
timo in the history of the country
when II was more important than at
pfesenr for our people To exercis. IN
telligent thrift and economy Many
OF the countries OF South America.
Of Africa and Of the Far East are
eagerly seeking capital with which
to develop their resources and their
trade, and It remains with the people
Of America to furnish this capital
from their surplus earnings. More and
more each year the financial power
of the United States is becoming of
worldwide importance and the next
decate will unquestionahly see won-
importance of the United States as a
world banker and investor.
Manufacturing Imported Articles.
One OF the most important though
not very spectacular effects of the In
reference OF the war with American
importing has been the impulse given
to the manufacture on American soil
with American raw materials or a
variety of articles for which We have
uSESLOlQI6 u6NIt ArRriioAhS uP1i IVA
eign skill and enterprise.
American ingenuity. inventive tai
emit and general enterprise have made
good In many important lines with the
result that whenever the future again
opens the opportunity for renewed
importing into this country America n
manufacturers will be found well es-
tablished and able 70 resist competi-
ton.
~ = IT, Autt IA vat al leo huf In
the opinion Of the Department of
Commerce cost af production in the
warning countries OF Europe will not
be lowered to such an extent AS TO
create any danger from that source
in the holding of any new markets
we may have gained.
A Years Loss In Capital.
prominent statistician has made
a computation OF the losses Of the
ST. 1871 s.ffe figures the aggregate
wealth Of Belgium at the beginning
az the war at $4,000, 100000 and
the losses to July 81. at s2,ss2. .eee
or more than one-fifth of the whole;
the wealth of the United kindom at
SS1,so, 1000, 900 and her losses at
S6.2s0, 900. 900 or about one-thirteenth
fthe whole; the wealth OF France al
35S.375, 900. 900, the losses $3.50 ooo.-
900 or one-seyenth: the wealth OF
Russia $4,000, 900, 900. the losses 81.
$50. O0o, 900 or one-eixhth. the wealth
Of Germany at $4,000. 100000, tht
Losses 3i3.8s5. 100000 or over one
sixth: the wealth of Austria Hungary
$4,000. 00o, 900. the Losses 1880, eoo,'
900 or about one-eighth OF the whole
Tho total destruction OF capital of all
the above nations IL thus figured al
considerable over $4s.o00. 100000. In
cluded in this estimate Is capital,
xation OF s11 LOOT. 100000 for value OF
human lives lost.
worlds Recuperative Power.
No greater mistake could be MADE
than to imagine that following the
close OF the war in Europe the grea'
mowers will be in a state OF exhaus-
t,on from which they will not recover
for very many years. It Is common
nrophesy on the part of many who
40 not 20 below the surface In their