The Bemidji daily pioneer. [volume] (Bemidji, Minn.) 1904-1971, 1916-01-22

WAR MAKES MlLLI0NAIRES
Scandinavian countries are
having big war booms; Nor
way getting lions share of
war business; see their
chance and grab it, making
much money.
By Chas. P. Stewart.


(United Press STAR 0orrespoxdent)
Copenhagen, Jan. 5.-(By mail. -
Scandinavia is enjoying tremendous
war boom. It is more or less COM
mon to Eweden, Denmark and Nor
way, but so far as appearances go, it
is most pronounced. in Norway.
Sweden has sold to the belligerents,
especially to Germany, immense
amounts of raw and finished prod
ucts, including war munitions, though
these latter sales were not counten-
anced by the Swedish government.
Denmark, being separated from Ger
many only by an imaginary line in
stead of stretch of mined and dan
gerous water, has done still better
The lions share of the war business,
however, has gone to- Norway.
Third MARITIME Nation.
The Norwegians have profited to
some extent, like Sweden and Den
mark, by sales of their own goods
to the belligerent nations, especially
to Germany, but it has been as mid
dlemen that the bulk of their busi-
ness has been done. Norway was the
worlds third maritime nation when
the war broke out. England ranked
first, Germany second. England still
ranks first but even the British mer-
camille marine has suffered heavily
from the destruction incidental to
war. Germany,s merchant shipping
has been out of commission alto
gether since the early days of hostili-
ties. This was Norway's chance.
Americas Boom Small.
Compared with Norway, Americas
war boom has been a small affair.
This is speaking relatively, of course.
In actual dollars and cents the Euro
pean struggle unquestionably has
brought more money to the United
States than to any other country.
Comparatively Norway has been the
big gamer. That is, the Norwegians
are richer by the struggle to the ex-
tent of about 5000, 100000 in actual
cash thus far. To properties they
already owned there has been added
a value of approximately as much
more. This is on a basis of a popu-
lation of 2,500,OOO.
a Increase $50 Per Capita.
An addition of $50 per capita to
Norway's wealth in a year and q half
has been felt emphatically. 1t has
meant boom such as the old world
has not seen hitherto in historic
times. Millionaires have been cre-
ated wholesale. Many Of them are
millionaires only in kroner-a krona
being in the neighborhood of 27
cents-but jump from nothing, in
18 months, to a fortune of $780,
900 to $27O,O0O, which has happened
in hundreds of cases, is not so bad.
The big old shipping firms have pro-
flied in actual millions of dollars. The
newly made millionaires in Norweg-
ian money are mainly more clerks in
shopping houses, or working officers
of ocean-going craft who were able to
command little credit and branched
out in business for themselves.
Never Owned Ships.
Numbers of the newly-made mag
mates have never owned a ship. They
have bought vessels in course of con-
struction or invested merely in char
ters and have been able to transfer
either their unfinished craft or their
charters, so rapid was the increase
in the demand for bottoms at huge
advances, sometimes in the course of
no more than few days. War taxes
have been high, but profits have been
so much higher that the taxes have
hardly been felt. The Norwegians
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