The commonwealth. (Scotland Neck, N.C.) 1896-1929, 1916-11-03
PROSPERITY NOT DUE
TO DEMANDS OF WAR
Bulk Comes From Ordinary Bust
ness Channels, Declares
ChaneS M. SchWab.
$500, 0o0, o00TRADEBALANCE
Department 81 Shows Vast
Gain in Wealth Under Wilson,
Munitions Business Is but One
Per Cent Of Total.

Fer Gent. OF Total.
In answer to the cry of Republican
that the unprecedented
that has come to America
under the administration Of President
Wilson Is due to the European war
orders, comes a statement from
Charles NJ. Schwab, head of the
Bethlehem Steel Company, himself
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
Of System. "Even casual inspection
Of the great volume Of exports will
that the bulk is drawn
from the ordinary course Of business.
1t is also found that, at present
prices, domestic business Is as profit
able as foreign munItion 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
81, 73O, 100000.
Trade Balance $2,5oo, ooo, 900.
Predictions are made that the trade
balance for the entire year will ex-
coed the unprecedented figure Of ST.
5O0,OOO,OO0. The value of the exports
for the eight months was $3,435, $685.
PIP, an increase of $1,2O5, 1882, 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 $6,OOO,O 100000, before the
war, to $1,000 100000 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 81, 100000. Under Will
son, therefore, we have wiped out
sc, DOC, 100000 Of foreign Indebtedness
and are a creditor to the amount OF
$500 100000.
Mr.. Hayden calls attention to the
fact that this always was 4 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
ingman, come reports of unparalleled
prosperity. The Chamber of Com
merce of the United States, in al
official report, declares that basi,
stocks are rising, that railroad earn
ings are abnormally high (ndicatin,
the great movement of commodities
and that the national prosperity will
continue.
Not temporary prosperity, due t
the war, Is this that is filling tn
Golfers Of the nation. It Has a SCUM
basis for permanency, made certain
by the laws enacted under the Wilso
Administration. The President him
self, in his recent speech at Bait
more, emphasized the value to tn
country of the Tariff Commission, til
Trade Commission, the Federal RI
serve Board and the shipping bill
These enactments not only will stin
ulate the producHyeness Of the coul
try, but will safeguard its output an
provide means Of conveying it to a
the ports of the world.
| h>,.. n,..~>-> L.
Here is just a glimpse at percel
tages, prepared by expert statistician
that prove what the Wilson Admin
tration has done for the people:
Increase in bank deposits, 50 p'
cent; money in circulation, % p
cent. stock of gold in United State
S4.1 per cent; foreign commerce, so
per cent; balance Of trade in fav'
Of United States, 287.8 per cent
agricultural exports, al per cent
manufactured exports, 1855 per cent
railway revenues, 1915 per cent; val
Of general crops and live stock, II
per cent; value of wheat crop, 81
per cent; output of pig iron, 35 p
cent; production of steel, 35.5 p
cent; farm lands, 1927 per cent. m
employed in manufacturing, 1872 p
!, cent. wages paid in manufacture
, 41.5 per cent; capital employed
! manufacturing, 300 per cent; val
Of manufactured products, 41.2 2
cent.
= So it may be seen that all lines
: industry have profited under the gre
t wave Of prosperity that the Den
y cratic administration has wrought.
: AND THE MUNITIONS BUSINE
COMPRISES ONLY ONE PER CEN
OF THE TOTAL OF MANUFA
:, TURED PRODUCTS.
Is Il the part Of wisdom, thereto
70 gamble with prosperity such
this7
Will the American voter dare
,, throw away q sure thing, on
chance that his return may be
'e. enormous cost Of wars poverty 4
!. devastation?
" MODEL IA r B E r S II {
ID J. D. Smith, Prop.
a. Skilled BARRIERS, Sanitary