Ellsworth American. [volume] (Ellsworth, Me.) 1855-current, 1916-08-23

| October, 5ss3o,6D ............
November, /" 7s,4l.2l ....-....--.
! December. !" Is,s7s.ois ............
From that time forward the
monthly balance Of trade in our favor
steadily increased until 1t reached
more than $500, 900, 900, unparalleled
in the history of this or any other
country. Our increased export trade
was made up Of commodities abso-
lutely essential for the maintenance
OF an army in the field, and the in
creases were practically all to nations
at war, or to adjacent countries from
which they found their way to the
warning countries.
! The table presented above demon
strates two things- arst, that as a re-
suit OF democratic tariff legislation, a
balance Of trade that was in our favor
was changed to q balance of trade
against us, thus showing that instead
of other nations sending their money
here to buy the products OF American
labor, We were sending abroad money
to buy the products Of foreign labor,
discouraging our own industries and
building up the industries OF foreign
lands; and, second, that the outbreak
OF the European war created an enor-
nous abnormal demand for our pro-
ducts. The democratic party had abb
solutely nothing to do with the crea-
ton Of this abnormal market.
There are other and perhaps no less
important factors which have been
very materially influenced by the
outbreak Of the war and not>in any
sense Influenced by democratic ad..
ministration. Prior to the outbreak
Of the war, American tourists were
spending in Europe sums estimated
at from s300, 000, 900 to s500, 000, 900 an
nually, this constituting net outgo
for which we had practically no cor
responding income. The outbreak of
the war not only shut of this ex-
penditure, but induced American citi-
zens to spend corresponding sum ut
home, Thus helping to revive Ameri-
can industry and give employment 70
American labor.
Again, prior to the outbreak Of the
European var, A. everybody knows,
large amounts OF American stocks
and bonds were held by foreign in
vestors to whom We paid interest and
dividends amounting annually to
many millions Of dollars. So great
was the amount Of these securities
held abroad that when the war broke
out there was fear of tho dumping Of
these securities upon the American
market and our stock exchanges were
closed. Upon the reopening of the
stock exchanges more than billion
dollars worth of these securities were
returned to Us and bought by Ameri-
can investors who now collect the in
terest and dividends and spend the
proceeds ct home for tho develop
mont Of American industry and the
employmeus OF American labor.
Not only have these factors con-
tributed in an enormous measure to
the revival Of American industry ~
direct result Of the outbreak and con-
tinuance OF the war in Europe, but
the labor situation has been very rad
ically affected to the advantage Of
American workmen. During the two
fiscal years preceding the outbreak Of
the war, the net increase ip our popu-
lation by reason Of the inflow and
outflow Of aliens was 800 600. In
the nineteen months since the out
break of the war, the net increase in
our population by reason of the
movement Of aliens has been 1900.
It is apparent, therefore, that as
one result Of the war, We have al
ready experienced, relatively speak
ing, q cutting on Of over million
and quarter Of increase in popula-
ton, almost entirely Of the laboring
class. The war not only called to Eu-
rope large numbers Of persons who
went to participate In the conflict In
behalf of their native countries, but
also prevented the immigration Of
large numbers Of persons who would
otherwise have come to this country
to engage in industry and compete
with American labor. The high
wages that are to-day being paid In
almost all lines Of industry arc due,
first, to the abnormal demand for our
products, and, second, to the abb
normal scarcity Of labor.
A Powerful Press.
The Philadelphia mint uses Z press
! thst can exert a force Of LOO tons to