The Cordova daily times., 1916-09-14
SWEDEN EN JOYS SUDDEN WAVE
 PROSPERITY

perity sweeping over Scandinavia has reached it's crest, in the case of Swe den, with the greatest crops the cOun- try has ever known, these northern peoples are forgetting some cf the vicissitudes of the small neutral in the midst of the European cnnflagra- tion, even the rigors of the blockade itself
 So great has been the prosperity of the last two years that it is reported the governments of Denmark, Norway and Sweden have already paid off. or have sufficient funds in the state cof- fers to pay off, all outstanding for eign indebtedness. So in a brief space of time the three small neutrals lying here in the very lap of war, but not of the war have been transformed from the borrowing to the lending class
 The process of paying off foreign obligations has been materially facili- tated by a loss in value of foreign ex- change. The German mark has led the international monies downward with a loss of more than 30 per cent. The English pound, the American dol lar, the Russian ruble, the continental franc all have been quoted on the Scandinavian bourses at loss of 10 per cent and upward, so that the for eign buying power Of the Scandaniv- ian crowns, when buying has been per mitted, has greatly advanced. Sweden had borrowed much money from Ger many. War time trade with the block aded Germans has brought enormous profits This fact, combined with the cheapness of the German mark has enabled the Swedish debtors to wipe out many million crowns of TeutOnic obligations
 When prosperity first came to Scan dinavia it was distinctly a prosperity of the monied classes. People with money were quick to take advantage of the war opportunities and not few of them have made fortunes by merely dealing in foreign money. There were stock booms that made the manipula- tors of American war brides" appear as amateurs. But gradually the inflow of money affected all industries Un- employment became unknown and the skilled laborers received high wages. The farmers participated in the pros perity from the beginning, and their share has been steadily increasing until this year they will divide a crop yield estimated at more than $40o.OO0.- 900 against normal of less than half that amount This remarkable yield is due both to the bountiful crops and the increased value of foodstuffs The middle classes of the cities, the sal aried employees, have as usual been caught between the millstones of high prices and big profits, the salaries having in no case kept pace with the increased cost of living.
 Savings and commercial banks show deposits far in excess of any eNpec- tation. Luxuries are in great demand and of course. bring fabulous prices. The summer resorts report d record season. People with home products to sell are naturally not worried by the British blockade, for they have | discovered it has served the double purpose of lowering the value Of for eign exchange and increasing the | value of materials and foodsuffs now In the Scandinavian countries. There are plenty of complaints naturally among the importers, who appreciate the wonderful opportunities of pros pelity. but are not able to bring in foreign goods in sufficient quantity to get what they claim is their due share of the good times.
 The bountiful Swedish crops mean much to the Germans, for they will get their share of the much needed foodstuffs in compensation for the German coal, chemicals and other exports sent to this country. Coal always has been the chief import of Sweden, and great stores of German | coal are being piled up here in Stock holm and at other depots throughout the country. There is a long winter coming, and English coal has so in creased in cost as to be almost prohi- bitive. Part of the "compensation for German coal has been paid in ------------------~-- - 1