The independent-reporter. [volume] (Skowhegan, Me.) 1909-1955, 1916-02-24
Bradstreet's Review of Years BUSH
ness

fitting heir to the wear which saw the
outbreak of the greatest war in all the
worlds history. War was indeed the
main compelling cause of most OF the
years activities, and its efects can
he traced in almost every American
trade. financial and industrial, nap
penings of the past II months. when
to this was added second year OF
bounteous crops sold at excellent
prices. there existed combination
such as neither this nor any other
country had previously experienced.
review of the year 1915 must Oh
necessity, therefore. refer back to 4
certain extent to the latter position
of 1914. which saw the injection OF the
most disturbing occurrence OF modern
times. but which, owing to this coun-
try's fortunate position, likewise saw
the beginnings of the improvement
growing into the greatest boom III
trade ever witnessed. Looking back
now to the opening of the year 1913,
one may see clearly that the doubt
and indecision reflected in the open
ing months of the year were not war
ranted; that improvement, slow, malt
ing or irregular as it looked at times,
was even then clearly manifest, and
that this country then and still spar
ed from participation in hostilities,
had already embarked on the most
marvellous expansion seen in this or
any other country.
The history of the business year
1915 may be said to deal with three
gerat movements. First of these was
the immense demand, begun before
the year opened, for cereals, meats,
wire, automobiles, horses, clothing
and a variety of other products that
practically swept the country bare OF
surplus stocks of staples of all kinds,
and especially of any sort of ready
made war material, whether for Of
Tense or sustenance. An example OF
this was the taking up of every sur
plus bushel of the greatest wheat
crop in the country's history at close
to the highest prices ever known.
The second period may be said to en-
brace the marvellous diversion which
occurred in our industrial forces,
which, lacking occupation of a peace
full kind, turned toward the produc-
ton of war material, demonstrating
the adaptabilty of American manu-
faeturers, mechanics and artisans,
and giving a vast incentive to the pro-
duction of all kinds of metals, whose
output alone would place the year in
a class by itself With the immense
expansion in industry shown in the
first half of the year, unemployment,
which had declined steadily from high
levels at the outset of the year, .prac-
tically ceased to exist, skilled labor
became scarce, and the commonest
kind of common labor rose in demand.
The third period may be said to have
been coincident with the final reali-
cation by the business world that the
immense foreign demands could not
go on without a vast influence upon
purely domestic trade, and this latter
branch of business, possibly express
ed early in the year by fear of our
inv in hncfilitioG qtipptt ODD
by the large earnings and swollen
pay rolls of industrial centers, and
buoyed by the gathering of the great
est food crops in history, bringing
unsurpassed earnings to farmers,
surged forward in the fall months in
a veritable ground swell of purchas-
ing, which found stocks of goods
bought on previous conservative lines
all too small to satisfy demands. De-
creases shown in the earlier months
of the year were In many cases made
up by the advance In the fall. but the
years results in distributive trade as
n whole are hardly up 10 the best OF
previous years.
These three great movements were
closely interviewer with each other
and with auxiliary movements OF a
great stock market boom. unexampled
export trade. unheard-of imports of
gold unparalleled ease of money and
a record-breaking high level OF prices.
Speaking generally. the great rush of
foreigners for American food and
ready made war supplies iaherited
from 1914 was over by the nrst quar-
ter OF the year. by which time the
industries. having modified
for the production OF var material.
were fully embarked on the manufac- /
ture OF munitions, Exports OF the
latter reached their creates, height In /
July. but continued thereafter q, high |
lcvels while the great advance In |
domestic trade VAS reserved for the
autumn and early Water. the year