New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-25
Our Prosperity

- ~
To the Financial Editor.
"Will the prosperity o. the United
States be seriously reduced oy the end.
ing OF the European varT is . vital
question 70 all on this side Of IL.
Atlantic.
That this present prosperity IL prln.
cipally due to the enormous demard
for our products has been plainly
shown By the analysis ard comparisons
Of expert, for the periods before and
after August, 1914.
Statements have been advanced tia.
the destruction Of property IN Europe
has been go great that the rehsbilita.
ton Of the devastated territory and the
loss Of skilled artisans in the war will
create an abnormal demand for labor
and materials, sufficient TO diver.
European competition from the Amer.
lean market for long time, and thus
leave this market 10 our own pro-
ducers.
The following facts, however, should
not be overlooked:
(a) The principal territory il
Europe which completes with this cOun.
try, /. e.. Northeastern France and Bel
GUM, which has been ruined, is equal
in area 10 only one-half OF Pennsyl-
vsnia and In population about the same
as New York and Pennsylvania con-
bined This does not include the sgr.
cultural sections OF Western Hungary
and East Russia. Aside from these sec
tions, Germany remains undisturbed
and industrially Is perhaps more Ell
cient than before the war. Agstns-
Hungary IS damaged only On the East
ern frontier; Russia is barely
scratched; Italy is intact. Serbia. Bal-
garis and Rumania trade very little
with this country. Great Britain,
whose commerce with The United States
is vastly greater and more importan.
than that of any other foreign country,
is even more efficient to-day than ever
before.
(b) IL has been estimated that the
total loss Of life exceeds $1,000 900 men
Of working age. This, however, is only
approximately 10 per cent OF the total
population Of the warning nations, and
of this 10 per cent perhaps less than
a fourth, or $4,000 are skilled arti-
sans, the remainder being clerks, oper-
ators, farmers end laborers. VIII this
gap in Europe's industrial army be
difficult 70 quickly replace?
(c) The loss o, capital may be the
greatest to be overcome. The fere.
struggle for existence in crowded
Europe viii still continue, production
must Dc increased, and bid made for
the worlds gold by the sale OF goods
for cash.
The financial condition OF Europe
would seem 20 warrant a greater ra1r
than reduced effort to gain ne
worlds markets. particularly the trs''
of that country which for years h'
been looked upon with jealous eyer
the United States.
How America can maintain the pref
ent high rates Of wages caused NO.
only by unionism but by the pressn'
enormous war demand, together win
the probable food OF foreign immigr
tion 10 this favored country, Is
problem OF the utmost importance.
With the dominant political pan'
opposed 70 a prohibitive tart' but 9"
the contrary in favor Of buying n "s
cheapest markets, American labor VIII
be apt 20 face a serious and disues
sing situation in the near future
II would seem inevitable that tn'
food of gold to this country since Wv
war commenced amounting TO WV
5000. 100000 for lsl6-will return !"
Europe in payment for cheap prod'e"
unless the Democratic Congress so'p'
the Republican fiscal policy, when
hardly probable.
Never before has there been s"''
I'D for an intelligent Congress VIZ
a bread view and patriotic unlt! p"
action. DANIEL D.
December 20, 1916.