Bisbee daily review., 1916-06-02
Friday Morning, June 2, 1916.
AFTER. THE WAR

Will we and can we retain this increased foreign trade which probably will four billions of dol lars during the current fiscal year? believe that can and will says Dr. Edward Pratt Chief of the Fed era Bureau of Foreign and Domestic Commerce find that most of the practical foreign trade believe that they will be able perahps all of the new business very proportion of it at least is
 question which believe squarey upon the ulti mate level of costs after the
 Let us consider the important items of cost. They are labor capital and the efficiency of going or ganization connections This last is often termed good will" ,e .F
 There is no doubt that the European nations al present losing good will Good will depends upon the ability to establish and going businessus the European have been unable to d. since August, 1914. American manufacturers and mer chants picking up whole were the good will tha has been voluntarily dropped by their European compet tors.
 It is hardly conceivable that in Europe will enormously increased result of the It is evi dently the policy all begerent nations mee the costs of it. not by immediate taxation through debts This will be paid by the taxpayer of the years and the will rest heavily only the people, but industry.
 Already the cost of capital in Europe has been Capital which could be had for two and fou, per prior to the European war scarcely pun chased for six per In my opinion. capital vii be in great demand immediately following the not much for immediate reconstruction purposes as for al kinds of enterprises and repacements which will bc necessary because present equipment is being ou and because present initiative and enterprise being stored up without outlet The demand for capital will be great the available will be limited and ir consequence the cost of it will be high.
 1.-The supply of labor it equally clear. will bc considerably diminished Consequently labor will be ir great demand following the close of the Many o the best and most skilled laborers of Europe won't back from the front Many will back maimed and diseased Practically all of those who will have lost their valuable element in the European aborer the habit of work. The European workman has beer noted for his industrious qualities his loyalty for the work spirit t>Thich is in him. This in my opinion will longer exist among who have experienced the excitement of army life the trenches and on the battle fields of Europe Labor especially skilled labor. will be in great demand will consequently high price
 There is no need of our relying entirely theore tca explanation of the possible effects of the European We go back if to, and find out wha happened in the immediately following the Napoe onic wars, the Crimean war own Civil War, the FrancoPrussiSn war and finally, the Russo-Japanese In the each of these conflicts we fn6 that considerably and that the en tire fiscal affairs of the nations disarranged of capital and the cost of labor enhanced.
 What do these facts indicate? It seems to me that they forecast generally increased level of in Flu rope following the and in consequence much high level of prices than for the period immediately ceding the conflict If these facts be the United States will be better able compete with the nations Of the old world than before. We will be enabled not only to hold domestic trade but in addition to make still further advances in. outside markets.