The copper era and Morenci leader., 1916-10-27
PROSPERITY NOT DUE
 ID DEMANDS OF WAR.
Bulk Comes From Ordinary Pusi- ness Channels, Declares
 Charles M. Schwab.
s2,5OO,o GOO, ,oooTRADEBALANcE
Department of Commerce Shows Vast Gain in Wealth Under Wilson Munitions Business Is but One
 Per Cent. of Fetal.

0-.~f | In answer to the cry of Republican politicians thai the unprecedented prosperity that has come to America under rRe administration of Pres.dent Wilson is due to inc European war orders. comes statement from Charles M Schwab head of Ihe Bethlehem Steel Company himself a Republican that refutes the charge.
 "lt is a mistake to imagine that the major portion of our business is war order business" says Mir, schwab, in a signed article in the October number of System s'Even a casual inspection i of the great volume of exports will l deronstrate that tho bulk is drawn from the ordinary course of business t is siHo found that, at present | prices, donestic business is az profit | able as foreign muniticn business"
 No one can doubt the capability of i Mir. Schwab to judge the business stu ation nor can one gainsay the recent figures issued by the Department of Commerce In this report, it is stated that. during the first eight months of the present fiscal year. the exports ! of the United States showed trade balance in favor of this country of sL7s000e0OO.
 Trade Balance s2.5oo, ,ooo. 900.
 Predictions are made that the trade balance for the entire year will ex- ceed the unprecedented figure of S2.- 500.OG0.O00. The value of the exports for the eight months was S3, ,435, ,969.- PIP. an increase of $1,2O5. .8S2. 100 over the same period last year
 Another financial authority, too has spoken-Charles Hayden. of Bos- ton He estimates that American securities held abroad have been re- duced from $6,OOO.OOO,OOO. before the war, to $1,OOO.OOOOO0 at the present time. CoincidentaIly, the United Ststes has become creditor of foreign na- tions. for the first time in history, to the extent of $1, ,50O,000,OOO. Under Will son. therefore, we have wiped out $6,0O0.OOO.OOO of foreign indebtedness and are a creditor to the amount of $5O0.OOO.OOO.
 Mir. Hayden calls attention to the fact that this aIways was debtor nation under Republican rule.
 AlI Glasses Prosperous.
 And so. from all sections of the country, from all kinds and classes of business, from the merchant, the manufacturer the farmer the work ingman. come reports of unparalleled prosperity. The Chamber of Com merce of the United States, in an official report. declares that basic stocks are rising. that railroad earn ings are abnormally high (indicating the great movement of commodities), and that the national prosperity will continue.
 Not temporary prosperity, due to the war is this that is filling the coffers of the nation It has a sound basis for permanency made certain by the laws enacted under the Wilson Administration. The President him self, in his recent speech at BaIti- more emphasized the value to the 4 country of the Tariff Commission, the Trade Commission, the Federal Re ' serve Board and the shipping bill These enactments not only will stfm- ulate the productiveness of the coun- try, but will safeguard it's output and provide means of conveying it to all z the ports of the world
 How Business Has Gained.
 Here is just a glimpse at percen- tages. prepared by expert statisticians that prove what the Wilson Adminis- la ffor, hoe 1oro for +I,a ,,s.or,lo.
 Increase in bank deposits, 6S per cent; money in circulation, 9 per cent. stock of gold in United States, 34.1 per cent; foreign commerce. 52.7 per cent balance of trade in favor of United States, 2876 per cent. agricultural exports. Al per cent. manufactured exports. 155 per cent railway revenues, 37.6 per cent value of general crops and live stock l24 per cent; value of wheat crop 67.5 per cent; output of pig iron. B per cent. production of steel. 35.5 per cent; farm lands 12.7 per cent. men employed in .manufacturine, 23.2 Der cent; wages paid in manufacturing 41.5 per cent; capital employed in manufacturing, 30.9 per cent. value of manufactured products, 41.2 per cent
 So it may be seen that all lines of industry have prOfited under the great wave of prosperity that the Demo cratic administration has wrought.
 AND THE MUNITIONS BUSINESS COMPRISES ONLY ONE PER CENT OF THE TOTAL OF MANUFAC TURED PRODUCTS.
 Is it the part of wisdom, therefore to gamble with prosperity such al q this?
 Will the American voter dare tc throw away sure thing, on tn,
 t. 4.... ,,,,.- Lo 4t,