The Wahpeton times. [volume] (Wahpeton, Richland County, Dakota [N.D.]) 1879-1919, 1916-10-26
PROSPERITY NOT DUE
TO DEMANDS OF WAR,
;ulx Comes From Ordinary Busi.|
ness Channels, Declares
Charles M. Schwab.
$500, ooo,o ooTRAoEBALANcE
oepartment Of Commerce Shows Vast
Gain In Wealth Under wilson,
Munitions Business 10 but One
Per Cent. Of Total.

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 a mistake to imagine that the
major portion Of our business is war
order business" says Mr.. schwab, In
4 signed article in the October number
81 System. "Even q casual inspection
81 the great volume Of exports will
demonstrate that the bulk is drawn
from the ordinary course Of business.
It is also found that, at present
prices. domestic business is as profit.
able as foreign munition business"
No one gan doubt the c:,pability Of
Mr.. Schwab to judge the business situ-
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 trade
balance in favor of this country of
S1.73O, 100000.
Trade Balance $4,000, 100000.
Predictions are made that the trade
balance for the entire year will ex.
coed the Unprecedented figure of So.
HM.HO,0OO. The value of the exports
for the eight months was 81. 49,. ,9G9-
212. an increase of S1.2O5. 49,, 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 S6OOO.OOO.OOO, before the
war. to s1OOO,OOO.OOO 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 vii.
son. therefore. we have wiped out
$6OOO,OOO.OOO Of foreign Indebtedness,
and are creditor to the amount Of
s5OO.OOO,OOO.
Mr.. Hayden calls attention to the
fact that this always was q 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
ngs 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 filling the
Golfers Of the nation. 1t has u 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 ard 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, Gs per
cent; money in circulation. % per
cent: stock of gold in United States,
S4.1 per cent; foreign commerce. 52.7
per cent: balance Of trade in favor
of United States. 1915 per cent;
agricultural exports. AL per cent.
manufactured exports, 155 per cent;
railway revenues. 37.6 per cent: value
of general crops and 1--we stock. l2.4
per cent; value of wheat CROP G7.5
per cent; output Of pig iron. 81 per
cent: production Of steel. 3d. per
cent; farm lands. 12.7 per cent men
employed in manufacturing 23.2 per
cent?. wages paid in manufacturing,
AS per cent; capital employed in
manufacturing. 800 per cent: value
of manufactured products. 41.2 per
cent.
So 1t may he seen that all lines Of
Industry have prOfited 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 MANCFAC.
.TCtED PRODUCTS.
Is il the part Of wisdom. therefore,
20 gamble with prosperity such a.
:his?