Little Falls herald. [volume] (Little Falls, Morrison County, Minn.) 1889-1950, 1916-11-03
PnO6PERITY NOT Due
!! 70 DEMANDS Of WAR
Bulk Is Ordinary Business, De.
dares Charles N. Schwab.
$4,000, coo, 0ooTRADE BALANCE

$4,000; 600, oooTRADE BALANCE
Department Of Commerce Figures
!, Show Vast Gains In WeaIth-Under
, Wilson United States is a Creditor
Nation For First Time Munitions
Business Only Per Cent Of Total.
In answer to the cry of Republican
politicians that the unprecedented pres
perity that has come to America under
the administration Of President Will
son is due to European war orders
Schwae, head of the Bethlehem Steel
Company. himself Republican, that
refutes the charge.
"lt is 4 mistake to imagine that the
major portion Of our business is war
order business" says Mr.. Schwab in a
sioned article in the October number
Of System. "Even casual inspection
of the crest volume Of exports will
demonstrate that the bulk is drawn
from the ordinary course Of business.
It is also found that at present prices
domestic business is as profitable ~
foreign nunition business"
No one can doubt the eapability of
Mr.. Schwab to judge the business stu
alton, 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 bal
anee~ in favor Of this country Of ST.
730OooS00.
Trade Balance $500, ooo,0 900.
Predictions are made that the trade
balance for the entire year will exceed
the unprecedented figure Of $2,500,000,-
600. The value of the exports for the
eight months was $3,435, 969,212, an
increase Of 81, POS. 8S2, 100 over the same
period last year.
Another financial authority, too, has
spoken Charles Hayden, of Boston.
He estimates that American securities
held abroad have been reduced from
$6,o00y 0Oo, 600, before the war, to ST.
OOQO0nOo0 at the present time Coin
cidhnts1sy, the United States has be-
come a creditor Of foreign nations, for
the first time in history, to the extent
of 81 sec, 100000. Under Wilson, there
fore, we have wiped out $4,000, O0O, 900
of foreign Indebtedness, and are a
creditor to the amount of 00,O00 600.
Mr.. Hayden calls attention to the
fact that this always was a debtor ma
ton under Republican rule.
i Al Classes Prosperous.
And SO, from all sections of the coun-
try, frsm all kinds and classes of
business, from the merchant, the
manufacturer, the farmer, the work
1ngman, come reports Of unparalleled
prosperity. The Chamber of Com
merce Of the United States, in an Off
cia report, declares. that basic stocks
are rising, that railroad earnings are
amsrmally 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 filing the Golfers
of the nation. It has sound basis for
permaneHcy, made certain by the laws
enacted under the Wilson administra-
ton. The President himself. in his
recent speech at Baltimore, emphasize
Ell the value to the country Of the
Tariff Commission, the Trade Commits
SON, the Federal Reserve Board and
the shipping bill. These enactments
not 0ndy win stimulate the productive
ness OF the country, but will safeguard
its output and provide means Of con-
veying It to all the ports OF the world.
How Business Has Gained.
Here is Just glimpse at percent
ages prepared by expert statisticians.
that prove what the Wilson admins
tration has done for the people:
Increase in bank deposits. 6S per
cent; money in circulation, % 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. 1915 per cent: agricul-
tur@ exports, al per cent; manufac,
t1red exports, 1856 per cent; railway
revenues. 47!6 per cent; value of gen,
era1 CROPS and live stock. 1874 per cent;
value of wheat crop, 67.5 per cent.
output Ct pig iron, IS per cent; produc.
tion Of steel, 35.5 per cent; farm lands
1877 per cent; men employed in manu-
featuring, 23.2 per cent; wages paid
in maNuda curing, AIS per cent; cap
ital em4loyed in manufacturing, 3OG
FER cent; value Of manufactured prod
ucts. 41.2 per cent.
Sd, it may be seen that all lines of in
dusty have profited under the great
wave at prosperity that the Demo
cratic administration has wrought.
AND THE MUNITIONS BUSINESS
CCsFRISES ONLY ONE PER CENT
OF THE TOTAL OF MANUFAC
TURHD PRODUCTS.