The Washington times., 1916-01-28
SCANDINAVIA ENJOYS
! GREAT WAR BOOM
Clerks Rise to Status Of Mil
lionaires on Wave Of Pros
perity.
BY CHARLES ?. STEWART.

BY CHARLES p. STEWART.
COPENHAGEN. Jan. 5 (By maiD.-
Scandinavia Is enjoying a tremendous
war boom. It is more or less common
to Sweden Denmark and Norway. but
so far as appearances go It Is most pro-
nounced In Norway. Sweden has sold
to the belligerents. especially to Ger,
many immense amounts Of raw and
finished products. including war muni-
tions. though these latter sales were
not countenanced by the Swedish gov
eminent. Denmark, being separated
from Germany only by an imaginary
line instead of stretch of mined and
dangerous water. has done still better.
The lions share OF the war business,
however has gone to Norway.
The Norwegians have protited to some
extent, like Sweden and Denmark, by
sales Of their own goods to the bel
ligerent nations. especially to Germany.
but 1t has been as middlemen that the
bulk of their business has been done.
nation when the war broke out. Eng
land ranked first Germany second.
England still ranks first. but even the
British mercantile marine has suffered
heavily from the destruction incidental
to war. Germany's merchant shipping
has been out Of commission altogether
since tSs early days of hostilities. This
was Norway's chance.
Americas Boom Small.
Compared with Norway. Americas
war boom has been a small affair. This
is speaking relatively. Of course. In
actual dollars and cents the European
struggle unquestionably has brought
more money to the United States than
to any other country. Comparatively,
Norway has been the big gamer. That
Is. the Norwegians are richer by the
struggle to the extent of about 5000 o0oo.-
900 In actual cash thus far. To prop
| been added value OF approximately
as much more. This is on a basis OF a
population Of 100000.
y An addition Of $50 per capita to Nor
ways wealth in a year and a half has
been felt emphatically. 1t has meant
a boom such as the Old World has not
seen hithertoo in historic times Mil
lionaires have been created wholesale
Many OF them are millionaires only in
kroner-a krona being in the neighbor-
hood of q cents-but jump from moth
ing. in eighteen months, to fortune
OF $500 to s270. 900. which has happen
ed in hundreds OF cases. Is not so bad.
The big old shipping firms have profited
in actual sums of millions of dollars
The newly made millionaires in Nor
wesian money are mainly mere clerks
OF ocean-going craft, who were able to
command a little credit and branchcd
out In business for themselves.
Never Owned a Ship.
Numbers of newly made magnates
have never owned a ship. They have
bought vessels in course Of construction
or invested merely in charters and have
been able to transfer either their un-
finished craft or their charters so rapid
was the increase in the demand for
bottoms at huge advances, sometimes
IN the course OF no more than few
days War taxes havH been high. but
profits have been so much higher that
the taxes have hardly been felt. The
Norwegians count on being the worlds
second maritime power when the war
ends. Only England. they believe, will
their boom will burst with the strug-
gle's end.
Shipbuilding. with the execution OF
warships. has been practically at a
standsthl since fighting began. they
point out. This means. they say. that
the supply of vessels has not been kent
I'D In proportion to the worlds increas
ing demand More than this. emphasis
is laid on the fact that there has been
first and last. heavy destruction OF
ocean going craft by mines and sub
marines. adding greatly to the shortage
the world already feels and will feel
sui more KeenlN Win the DOSt-Delluln
revival of international trade.
Finally. it is argued that the ships
which have simply been laid up in port
because they dared not sail the seas.
are, slowly deteriorating from disuse.
and will be more and more nearly
wnrthless the longer the war lasts. It
will take years, the Norwegians main
tain. TO restore an equality between the
supply and demand for ships for purely
commercial purposes.
Expects Profits To Continue.
During all these wears Norway ex-
poets to continue gathering in huge
pronts. dwindlng. perhaps. as time
satisfactory normal. without any vio-
lent shock and with the Norwegians
finally the worlds second nation as
traders, on tn" seas The recent influx
all lines. The shipping trade has felt ii
most but mining. manufacture. and
every other line OF industry has beer
enormously stimulated. An average OF
is n9fted in Christiania. Industrially
the Scandinavan countries have beer
kept back by an Inadequate fuel supply.
Development of the Spitzhergen coal
mines has been begun with the new
capital furnished by the bclligerents. or
large scale.
spitzberGen. which seems in the
United states like almost the last place
oii cdLth IleHtlOneu III ChrlStlanla
as II 1t were no more remote than
Alaska seems to Seattle. The coal mined
there is declared to be the best quality
bituminous and with it the Norwegians
speak OF making their country. in tho
near future. one of the biggest manu-.
featuring nations of the world
Has the Norwegian workngman re-
cefved a fair share of the war profits?
No. Norwegians generally declare that
the belligerents' money has gone into
few hands. Still. they say their coun-
try's workers are better paid than those
OF any other country in Europe They
.are hopeful that better adjustment be
tween the classes is not far distant. A
concrete reason why Sweden and Den
mark have not gained as much from the
war as has NORWAY unquestionably lies
in the fact that Norway possessed the
one thing needed to take ADVANTAGE or
the situation. ships. and that Sweden
and Denmark did not.
Aside from this. the Norwegians an
pear to have been better business men
than either Swedes or Danes. They
saw their chance and grabbed IT.
grabbed it out Of the other Scandinavian
countries hands.
aauoc pnn,,ocf f0r