The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1916-03-30

belligerent countries of Europe woult
not be subject to financial bankruptc!
or Industrial collapse. Let us proceed
to inquire what will be the effects OF
the industry and commerce Of thest
United States. In the first place tht
supply of labor may suffer from de-
crease of immigration on account o.
the contending pulls of patriotism
and taxation in the chief countries
now at war, and 1t may be restricted
further by congressional Legislation
imposing an educational test on those
coming to our shores from Europe. II
the latter Is vetoed again, that check
may not become operative, and there
Is probability, no matter how the
war ends, that the influx of population
will be resumed from the countries
bordering upon the Mediterranean and
the Adriatic, If not from northern and
western Europe. However, the rise in
the cost of living and the logical de-
mand for higher wages will hinder a
too exuberant expansion of industry In
the United States. Moreover, the or
ganization incidental to war will not
be discarded In a hurry by the Euro
pean nations; on the contrary, the de-
mocracies that lacked organization be-
fore the great struggle are likely to
maintain that organization for inter-
~ tuI 10
German efficiency will be undated.
France, Russia and England will have
learned a lesson. Great Britain Is
sure to discard her historic policy of
free trade and adopt protective tar
if, in the first instance against her
chief enemy but probably against the
world at large as WELL establishing
preferential rates with her overseas
dominions, which in turn will seek to
exclude the manufactures Of the Ger
manic countries. Even If some meas
ure of reciprocity is arranged with
the United States, it is not likely that
imports into Great Britain, particu-
larly manufactured products, will be
as free as heretofore. We anticipate
many checks to international trade on
this account. The demand for Ameri-
can raw materials and products part
commerce in finished manufactures
will suffer both by reason of tariffs
and of economy in Europe, On the
other hand, the United States Is be-
Ing given an opportunity to find new
customers elsewhere as in South
America and Asia. In such expansion
of trade this country has two ad-
vantages, namely, the interval of
while her competitors are
and the opportunity to ac-
big reserve of spare cap
ital. At present the first advantage is
not being utilized in large and sys-
tematic way except by propaganda in
South America, due mainly to the ini-
tiative of the National City Bank of
New York, but we hope that during
the current year more intensive eff !
forts will be made in other parts of |
the world, As to capital, it is appar-
emit that the enormous export trade /
chiefly in grain and munitions, both |
II high prices, is going to create vast /
store of financial energy, which should .
prove of the most timely assistance in
he world wide industrial competition
hat is to follow the war. The wealth
hus collected should be available for
urther exploitation in this country
Itself and for the extension of Ameri- i
an enterprise to other regions where
attractive opportunities will be af-
orded, largely by reason of the with
travail of European initiative in con- 1
equence of the war. This applies to
mining enterprise more particularly. Il
let us then consider the effect of the !
var on the industry in which we-our $
eaders and ourselves-are directly in 7
crested.
unquestionably the demand for the
letals will be prodigious, Europe has IL
bundant supplies of iron ore and coal. n
ut does not produce sufficient copper, Ii
'ad or zinc for her own consumption Ia
ordinary times, much less when an r,
bnormal demand is created, as will be s,
ne case when the great work of re- a
obstruction begins in the regions v
evastated by warfare. Normally the t.
nited States consumes all of it's lead CT
nd nearly all of its zinc, but 1t ex- Il
orts one-third Of the copper extract II
from domestic ores, besides nearly
much more from the smelling and n,
lining of foreign ores and mates, S.
Id other forms of copper derived 81
ON abroad, The great buyer of Am to
lean copper is Germany, which con- st
mes 100000 tons and produces only nj
900 tons per annum. Great Britain GO
d France consume 245,000 tons be- be
'een them, and produce practically in
400 tons per annum. bl
lerefore this country will find a III
eedy market for the useful metals wi
long the great belligerents, not on
now that they are required urgent
for the manufacture Of munitions All
when peace is restored in order n
rebuild and refurnish the essentials IAN
modern life n ar
mother consequence of the war Fl
n1ld no the onaninp n IN wider hort; tic