The Caldwell tribune. [volume] (Caldwell, Idaho Territory [Idaho]) 1883-1928, 1916-10-06
Business and Finances


daily habits of living. 1t is purely for
this reason that they have inaugurated
a nationwide campaign for personal
thrift, and if the people of the United
States are willing to give serious heed
to important suggestions, which will
be offered to them along these lines
during the weeks and months follow
ing the adjournment of this conven-
ton, they will be most agreeably sur
prised at the excellent results Of such
a policy While it is TRUE that the
only logical and sensible prediction
for the future is that of increasing
prosperity, it is also pertinent to re-
mind ourselves that the closing of the
European war will at least increase
commercial competition among the
nations, and the more strongly we
are fortified against adversely, the less
we shall fear international competi-
ton. This is the bankers message to
the people of the United States, and
the time for sounding this warning
is most appropriate.
Our New Place in the Sun.
1t is singular commentary on cur
rent conditions that without blood
shed and without conquest the United
States is attaining its new place in
the sun" more firmly than are the
European nations, which are striving
| for this object with the aid of their
implements of destruction Moreover,
the new place which we have gained,
that of the worlds creditor, is more
enviable one than the right to con-
quered territory or the subjugation OF
conquered people.
The London Statist, that sterling au-
thority on British finance, says in a
recent issue that so long as the war
lasts it is certain that all governments
desiring accommodation will apply to
New York, for there is no other great
market open to them. 1t has been
recognized that the United States with
its energy, its intelligence and its en-
terprise, will increase its accumulated
capital rapidly, and continue to fur,
nish accommodation to its neighbours
The Statist, however, has stated only
part of the truth, for not only has the
United States attended to the financia
needs of the foreign governments, bu
its banking leaders have furnished The
capital necessary for the financing O.
the bulk of export trade of these ma
tons. Moreover, it is now conceded
that these operations will not cease
with the signing of the terms of peace
but that the necessities of rehabilita
ton will be as great, or greater, thar
those of destruction, and American re
sources may be expected to occupy ar
increasingly prominent part in the
economic and industrial readjustmen
following the strife. This means ar
extension of credit to some of the bel
ligerent countries which, up to The
present time, have not enjoyed thu
benefits of American financial accom-
mediation. American bankers, who
have given careful consideration tc
this question, estimate that if the
European war does not end before
1918 the people of the United State:
will virtually be the creditors of the
world This will be of inestimablt
benefit to the economic position o.
this country, and should be the mos
important stimulus to the extension
of our foreign trade. 1t is logical tc
infer that a debtor nation will choose
to sell its products to its creditor, and
by this method discharge its financial
obligations to that country. Such q
process further sabilizes exchange
conditions between the different coun-
tries and obviates the necessity Of gold
shipments for the payment of current
obligations.