Pierre weekly free press. (Pierre, S.D.) 1889-19??, 1916-09-28
SCANDINAVIA CLEANS
UP PROFITS ON WAR
New Era Of Prosperity Almost
Sufficient to Offset the
Rigors of Neutral.

Stockholm, (by maiD.-Now that the
wave OF var time prosperity sweeping
over Scandinavia has reached it's crest,
In the case of Sweden, with the great
est crops the country has ever known,
these northern peoples are forgetting
some of the vicissitudes of the small
neutral in the midst Of the European
conflagration, even the rigors Of the
blockade itself.
So great has been the prosperity of
the last two years that 1t is reported
the governments of Denmark, Norway
II Sweden already ave paid off, or
have sufficient funds in the state cof-
fers to a off, all outstanding foreign
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 OBJ
legations has been materially facilitated
by a loss in value of foreign exchange.
The German mark has led the internal
tional monies downward with a loss of
more than 80 per cent. The English
pound, the American dollar, the Rus
sian ruble, the continental franc all
have been quoted on the Scandinavian
bourses at a loss of 10 per cent and
upward, so that the foreign buying
power of the Scandinavian crown, when
buying has been permitted, has great
ly advanced. Sweden nae borrowed
| much money from Germany. War time
trade with the %blockaded Germans has
broueht enormous profits. This fact.
combined with the ~cheapness of the
German mark, has enabled the Swedish
debtors to wipe out many million
own of Teutonic obligations.
When prosperity first came to Scan
dinavia it was distinctly a prosperity
OF the monied classes. People with
money We're quick to take advantage Of
the war opportunities, and not a 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 in
flow Of money affected all industries.
Unemployment became unknown n
the skilled laborers received high wages.
The farmers participated in the pros
perlty from the beginning, and their
share has been steadily increasing, un-
I'll this year they will divide a crop
yield estimated at more than $400, 000,-
GEO against a normal of less than half
that amount. h remarkable yield is
due both to the bountiful crops and the
increased values of foodstuffs. The mid
ole classes Of the cities, the salaried
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 banks and commercial banks
show deposits far in excess of any ex-
pectatton. Luxuries are in great de-
FAand and Of course bring fabulous
prices. The summer resorts report q
record season. People with home prod"
ucts to sell are naturally not worried
by the British blockade for they have
discovered 1t has served the double
purpose Of lowering the value of for
eign exchange and increasing the value
Of materials and foodstuffs now in the
Scandinavian countries. There are
plenty Of complaints naturally among
derful opportunities Of prosperity but
are not able to bring in foreign goods
IN sufficient quantity to get what they
claim is their share Of the good times.
The bountiful Swedish crops mean
much to the Germans, for they will get
their share Of the much needed food
stuffs 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 Goa are being piled
up here in Stockholm and at other de-
pots throughout the country. There is
a long winter coming and English coal
has so increased in cost as to be almost
prohibitive. Part Of the "compensa-
ton" for German o has been paid in
Swedish horses. the export of 10, 900
having been approved by the govern
nent this year. But the only horses
allowed to go to Germany are those
considered unfit for Swedish military
service. For these somewhat aged an
imals the price has averaged over s4OO.
thus giving the horse owners a share
OF the prevailing prosperity.