Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1916-05-22
Industrial Preparedness Necessary


NJ OW that Immediate danger Of break
with Germany has been avcrted and
the trouble in Mexico apparently has SIM
inered down TO its original proportions. leay-
ing the American troops still engaged in the
hunt for Villa, but without the threatened
complications with the de facto government
thcro is ground for fear lest this country
delude itself into the belief that It's Difficult
lies are forever removed. and that only ever
increasing prosperity lies before It,
Leaving aside the strong probability if not
certainty that more than one of tho nations
now at war will he forced to part with a
considerable portion of their colonial posses-
slonS at the conclusion Of the war. and will
naturally turn TO the rich fields of South
America 10 rccoup themselves. thus comuo]l-
ING the United States to vindicate the right
OF the Monroe Doctrine with the might of
arms. there are more prosaic troubles. though
none the less vital, almost at hand.
Against these, which may broadly be de-
scrlped as financial. the weekly review of
henry Clews " co. sounds a warming that
should he needed, by labor as well as by big
business and the interests The review
merely epromizcs what has been realized by
thinkinE men al! along, but it presents the
result OF investigation succinctly and forcbly,
and hence is Of greater interest than usual.
me fact is. speaking in general terms con-
ditions in the business and industry of the
highly that something like the bursting of
a bubble is bound to occur. Demand from
the belilgerent countries has rushed the mu-
milton factories to the limit Of their output:
dozens of other industrial plants and shops
even small, sometimes one-man, shopS-haye
been converted into plants for the manufac-
ture OF munitions and other military eouip-
ment In countless other lines of business
the vast and sudden increase of demand has
sent prices and profits. soaring
elimination OF competition in many branches
OF traoe mas also mad its inevitable effect
And, following and necessarily attendant on
proht-ncrease, wages have been very con-
Sloeranl! advanced i'll IA number Of trades
Here, then. is a veritabe crest of prosperity
whica is bound to curl and break when tho
var Is ended. The prosperity is not false
ont II is temporary and its duration is
sharply dependent on the continuance of the
war
when peace has been concluded the coup-
Try must De prepared for almost immediate
cessation OF the war orders which have
formed SO large part OF the present pros
perlty; il must look for consequent diminu-
ton OF profits; for difficulty in maintaining
the Wage-rate--a difficulty which will he
heightened by the expected influx of immi-
srauon-and must, further, allow for the
eager competition in foreign markets. par
ticularly those Of South America. which tho
war has stided.
War orders, it is reported, are gradually
being reduced; raw material, instead of fin.
lshed products, is being sent abroad in larger
Quantities This is encouraging since it tends
10 reduce prosperity to the normal gradually,
rather than suddenly. But this country can
not rely on the course Of events 10 prepare
II lot peace 1t must take advantage of
such means and opportunities as are at IT'S
hand. Arrangements must be made. plans
must be formed, to reconvert munitiop p,ants
into factories for the making OF agricultural
implements and other tools Of peaceful trade.
money must be In such shape that IL NAV
be diverted to take of the situation that
VII result; ships must be ready TO sneed
10 foreign ports--the shipping bill will aid
IN tha,--and the brains of the country must
be turned 10 preparations for peace