Manchester Democrat. [volume] (Manchester, Iowa) 1875-1930, 1916-10-18
PROSPERITY NOT DUE
TO DEMANDS OF WAR
Bulk Comes From Ordinary Bust
ness Channels, Declares
Charles M. SchWab.
S2,5Oo,CO0, o0oTRADEBALANCE

department OF SOtTlf11eTCe OHoWS vac
Gain in Wealth Under Wilson,
...- Munitions Business Is but One
.s,a .8s Per Cent. of Total. .y vi
In answer to the cry of Republican
politicians, that the unprecedented
prosperity that has come to America
under the administration Of President
Wilson Is due to the European war
orders. comes statement from
Charles NJ. Schwab head of the
Bethlehem Steel Company, himself q
Republican. that refutes the charge.
at is mistake to imagine that the
major portion of our business is wal
order business" says Mr. schwab, in
a signed article in the October number
of System. "Even casual inspection
of the great volume of exports will
demonstrate that the bulk is drawn
from the ordinary course of business
1t is also found that, at presen,
prices, domestic business is as profit
able as foreign nunition business"
No one can doubt the capability 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 a trade
balance in favor of this country OF
S1,73O,OO0,O0O.
Trade Balance $2,5o0,000, 900.
Predictions are made that the trade
balance for the entire year will ex.
coed the unprecedented figure of So.
50O,0OO.00O. The value of the exports
for the eight months was S3,435, $685.
212. an increase of $1,205, 49,, 100 over
the same period last year. r.. rsaatg@
Another financial authority, too
has spoken-Charles Hayden, of Bos-
ton. He estimates that American
securities held abroad have been re-
duced from $6OOO.0OOOOO. before the
war. to $1,O0O,0OO,O00 at the present
time. Coincidentally, the United States
has become a creditor Of foreign ma
tons. for the first time in history, to
the extent of 81 SOC, 100000. Under Will
son, therefore. we have wiped out
$4,000. 100000 of foreign indebtedness,
and are a creditor to the amount of
S500,OOO,0OO. .... rrat,r4s -4 wsra
Mr.. Hayden calls attention to the
fact that this always was debtor
nation under Republican rule.
ss hlI 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
ingman, 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
ings are abnorlnally high Indicating
the great movement Of commoditieS),
and that the national prosperity viii
continue. pa % ~ 'F' Pow
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 it's output and
provide means of conveying it to all
the ports of theword. RI
'7a' How Business Has Gained.
Z Here is just a glimpse at percen-
tages. prepared by expert statisticians,
that prove what the Wilson Admins
tration has done for the people: Y V
! Increase In bank deposits, eS 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, 2S76 per cent. !;
agricultural exports, al per cent. !;
manufactured exports, 1856 per cent. !;
railway revenues. 37.6 per cent; value
of. general crops and live stock, 12.4
per cent; i value of wheat crop, 67.5
per cent; output Of pig iron, 80 per
cent: production of steel, 35.5 per
cent; farm lands, 1921 per cent; men
employed in manufacturing, 23.2 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 profited under the great
wave Of prosperity that the Demo-
cratic administration has wrought.
E AND THE MUNITIONS BUSINESS
COMPRISES ONLY ONE PER CENT.