Daily capital journal. (Salem, Oregon) 1903-1919, 1916-01-29
By Chas. P. Stewart.

Omitted Press staff correspondent
Copenhagen, Jan. 5.-(By mail. -
/ Scandinavia is enjoying a tremendous
war boom. 1t 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 Germany,
immense amounts of raw and finished
4 products, including war munitions,
/ though these latter sales were not coun-
tenanced by the Swedish government.
Denmark, being separated from Ger
many only by an imaginary line instead
/ of stretch of mined and dangerous
water has done still better The lion s
share Of the war business, however, has
| gone to Norway
/ The Norwegians have profited, to
some extent, like Sweden and Denmark,
by sales of their own goods to the
belligerent nations, especially to Ger
many, but it has been as middlemen
/ that the bulk of their business has been
DONE Norway was the world s third
maritime nation when the war broke
out. England ranked first, Germany
second. England still ranks first but
even the British mercantile marine has
| suffered heavily from the destruction
incident to war Germany s merchant
shipping has been out of commission al
together since the early days of hos
tilities This was Norway's chance.
War Booms Norway.
Compared with Norway, America S
war boom has been 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 N0rwegians are richie by the
struggle g. the extent of about $2:iI.
0Oc,0 900 in actual cash thus far. To
properties they already owned there has
been added value of approximately
80 much more This is on a basis If a
population of 100000
An addition of $50 per capita ia
Norway's wealth in a year and half
has been felt cmphatically. 1t has
meant a boom such as the old world
has not seen hitherto in historic times.
MilliOnaires have been created whole
sale. Many of them are millionaires only
in kroner-a lrOna being in the neigh
borhood of 27 eents-Dut jump from
nothing, in Is months to fortune of
$250,000 to $270,000, which has happen
ed in hundreds of cases, is not so bad.
The big old shipping firms have profit
ed in actual millions of dollars The
newly made millionaires in Norwegian
money are mainly mere clerks in ship
ping houses, or working Officers of
ocean going craft who were able to
command a little credit and branchcd
out in business for themselves.
Many New MilNonaires.
+ Numbers of the 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 unfin-
\ ished 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 n few DAYS
4 War taxes have been high. but profits
have been so much higher that the taxes
y have hardly been felt. The Norwegians
count on being the world y second mari
time power when the war ends. Only
England, they believe, will lead them
Neither do they believe their boom will
I burst with the struggles end.
Shipbuilding, with the execution of
warships, has been practically at a
standstill since fighting began, they
point out. This means, they say, that
the supplv of vessels has not been kent
up in proportion to the world IS increas-
ing demand More than this. emphasis
is laid on the fact that there has been,
first and last, heavy destruction of
oceau.going craft by mines and sui
marines. adding greatly to the shortage
the world already feels and will feel
! still more keenly with the Post -bellum
revival Of international trade.
Ship Supply is Short.
! Finally, it is argued that the shins
which have simply been laid IN in port
because they dared not sail the seas.
are slowly deteriorating from disuse AMI
Y viii be more and more nearly worthless
the longer the war lasts. 1t will take
years, the Norwegians maintain, 10 re-
store an enuality hetween the supnlv
and demand for shirs for purely com
mercial purposes
During all these >rars Norway OK
pects to continue gathering IN huge
profits, dvmdlpg. rerhans IS time rva-
crosses. but gradually reaching a saiis-
factory rormal, without nrv violent
shock and with tho Norwegians firallv
sha t,-orf1 = en.op1 ,.f-.- SOS t-., 1,r.