The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1916-09-17

eign money. There were stock booms
ttat made the manipulators of American
war brides appear as amateurs. b..
gradually the inflow of money AFFECTED
al. industries Unemployment became
unknown and the skilled laborers re-
ceiyed high wages The farmers par
ticipated in the prosperity from the pc
ginning, aud their snare has been stead
ly increasing until this year they VIII
uvide a crop yield estimated at more
than S400,000000 against a normal of less
than half that amount. This remarkable
yield is due both to the bountiful crops
and the increased values Of foodstuffs
The middle classes of the cities, the
salaried employees have as usual been
caught between the mlllstones of hish
prices and big profits, the salaries haV-
ing in no case kept pace with the IN
creased cost of living.
Savings banks and commercial banks
show deposits far in excess of any eX-
pectation. LuXuries are in great de-
mand and, of course, bring fabulous
prices. The summer resorts report
record season People with home prod
ucts to sell are naturally not worried
by the British blockade for they have
discovered it has served the double puf-
pose of lowering the value of foreign
exchange and increasing the value or
materials and foodstuffs now IN the
Scandinavian countries. There are plenty
of complaints naturally among the i'm
porters who appreciate the wonderful op-
portunties of prosperity, but are not
able to bring in foreign goods in sui
ficient quantity to get what they claim
is their due share of the good times
The bountiful Swedish crops mean
much to the Germans, for they will get
IL cir share OF the much needed food
stuffs in compensati ton for the German
coal. chemicals and other exports sent
to this country Coal always has been
the chief import of Sweden and great
stores of German coal are being piled
up here in Stockholm and at other de-
pots throughout the country. There is
a long winter coming and English coal
has so increased in cost as to be al
most prohibitive. Part of the com
pensation" for German coal has been
paid in Swedish horses, the export of
10000 having been approved by the gov
eminent this year But the only horses
allowed to go to Germany are those
considered unfit for Swedish military
service. For these somewhat aged ami
mails the price has averaged over $500,
thus giving the horse owners a share
of the prevailing prosperity
Swedish manufacturers have shown
wonderful increase since the war be-
gan Russia mas become great puT-
chaser of manufactured goods, espe-
cially since Russian factories have been
turned to munition making. The Swedish
manufacturers have complained the most
bitterly against the British blockade
regulations; not having been able to get
all the raw materials they needed.
The governments of the three Scand-
navan countries were quick to see the
trend of the times and by special taxes
he
national treasures to overlooking. One
American concern doing business here in
Stockholm paid last year a tax of Is
per cent on it's net profits. The stamp
taxes on tobacco and liquors have STEW
lily increased. On cigarette packages
selling ordinarily at rs cents for so
cigarettes a S0-cent stamp has been
placed. Part of their enormously in
creased natioal revenue has been devoted
to the maintenance of armed neutrality,
the naval and military expenses having
been very heavy ever since the war be-
gan.
The Norwegians, with their wealth of
shipping and their extensive fisheries,
have reaped such a golden harvest that
the term Norwegian millionaire is a
common designation for men who two
years ago We're possessed of merely mod
est means. The Norwegians rather put
~ OfCi the OWeueS DIT lHo beginning OIL
the war by buying up many Swedish
ships before the Swedish owners realized
the mammot profits that were to come
from neutral tonnage in war times. The
Danes were quick to grasp the situation
too, and the result has been that many
Norwegian and Danish shipping COM
panies have entirely paid off all their
capital stock, have apid off the cost oil
all their ships and have declared huge
no of caIr
which no longer represent dollar of
original investment. Despite the many
losses inflicted upon Scandinavian ship
ping by German submarines and North
sea mines the tonnage of the northern
neutrals has shown a steady increase.
Many of the big shipbuilding orders
placed in the United States in the past
Is months have come from Norway.
Shipping shares on the stock exchanges,
under these circumstances, have had a
boom unparalleled in all history They
have jumped hundreds of points in a
day and instead of selling in the tens
Of crowns are now selling in the thou
sands. Ship values have increased about
fourfold
The Norwegians have also reaped enor-
nous profits from fish, the price of
herring and fish oils having shown in
creases as high as 600 per cent. The big
gest profits came from Germany of
course. but now under a trade agree
ment with Great Britain the English
have first option on the Norwegian out
put at limited prices.
Despite the fortunes already made in
Scandinavia there are stories of still
greater ones that might be made. If
anyone, for instance. could get a cargo
of bacon for Germany through the Eng
fish blockade and through the Scandi-
navian restrictions of export, it is said
he could retire as a millionaire on this
one deal alone.
The change Of route of the Japanese