The Democratic advocate. [volume] (Westminster, Md.) 1865-1972, 1916-10-27
PROSPERITY MOI DUE
., TO DEMANDS OF WAR
Bulk Comes From Ordinary Busi-
ness Channels, Declares
| Charles M. SChWab.
t$2, 500, 900, OOOTRADEBALANCE
department of Commerce Shows Vast
Gain in Wealth Under Wilson,
Munitions Business Is but One
Per Cent. of Total.

In answer to the cry of Republican
politicians, that the unprecedented
prosperity that has come to America
binder the administration of President
Wilson is due to the European war
orders, comes a statement from
Charles nj. Schwab, head of the
Bethlehem Steel Company, himself a
Republican, that refutes the charge.
at is q mistake to imagine that the
major portion of our business ls war
order business" says Mr.. Schwab, in
M signed article In the October number
of System. "Even a casual Inspection
Of the great volume of exports will
demonstrate that the bulk is drawn
from the ordinary course of business.
IL is also found that, at present
prices, domestic business is as profit
@ble as foreign munition business"
No one can doubt the capability Of
MFR. 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
pf the United States showed a trade
balance in favor of this country of
73O,0O0OOO.
Trade Balance S2,5oo,ooo, ooo
Predictions are made that the trade
balance for the entire year will ex-
coed the unprecedented figure of 81
600,000.000. The value Of the exports
for the eight months was s., 435, $685.,
PIP, an increase of 81, 205, $50, 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 $6,00O,OOO,OOO, before the
war, to $1,0OO,OOO,O0O at the present
time. Coincidentally, the United States
has become creditor of foreign ma
tons, for the first time in history, to
the extent of $1,5OO,OOO,OOO. Under Will
son, therefore, we have wiped out
$4,000 100000 of foreign Indebtedness,
and are a creditor to the amount of
$5OO,OOO,O 600
Mr.. Hayden calls attention to the
fact that this always was a debtor
nation under Republican rule
All 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
lngman, 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
tngs 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 filing the
Golfers of the nation. 1t 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 Balti-
more, emphasized the value to the
country of the Tariff Commission, the
Trade Commission, the Federal Re
serve Board and the shipping bill.
These enactments not only will slim
ulate the prOductiveness of the coun-
try, but will safeguard its output and
provide a means of conveying it to all
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 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
BAL per cent; foreign commerce, 52.7
per cent; balance of trade in favor
of United States, 2S7.6 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, 1874
per cent; value of wheat crop, 675
per cent; output of pig iron, 50 per
cent; production of steel, $50 per
cent; farm lands 1927 per cent; men
employed in manufacturing, 232 per
cent. wages paid in manufacturing,
41.5 per cent; capital employed in
manufacturing, 800 per cent; value
of manufactured products, 41.2 per
cent
So it may be Seen that all lines of
industry have profted 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.
To- it the part Of wisdom, therefore,
to gamble with prosperity such as
thiS2
Will the American voter dare to
throw away a sure thing, on the
chance that his return may be the
enormous cost of wars poverty and
devastation?
Good Recipe.
~