The Tabor independent. [volume] (Tabor, S.D.) 1913-19??, 1916-09-28
SCANDINAVIA CLEANS
UP PROFITS ON WAR
New Era of Prosperity Almost
Sufficient to Offset the
Rigors of Neutral.

Stockholm, (by mail).-Now hat the
wave of war time prosperity sweeping
W. 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
co~nflagration, ever 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 already have paid off, or
have sufficient funds lin the state cof-
ferS to pay off, all outstanding foreign
Indebtedness. So, in a brief space Of
time, the three small neutrals lying
here in the very lap Of a 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 interna-
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 had borrowed
much none from Germany. War time
trade with the ~blockaded Germans has
broueht 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 II was distinctly a prosperity
Of the monied classes. People with
money were quick to take advantage of
Ia x.ya 4~.- 49, g.
Of them have made fortunes bv 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 and
the skilled laborers received high wages.
The farmers participated in h pros
perity from the beginning, n their
share has been steadily increasing, un-
til this year they will divide a crop
yield estimated at more than $500, 000,-
600 against a normal of less than half
that amount This remarkable yield is
due both to the bountiful crops and the
increased values Of foodstuffS. The mid
die, 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-
pectation. LuXuries are in great de-
rpand n Of course bring fabulous
prices. The summer resorts report a
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 n foodstuffs now in the
Scandinavian countries. There are
plenty Of complaints naturally among
the importers, who appreciate the won
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 coal 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 "oompensa-
ton" for German coal has been paid in
Swedish horses, the export of 10000
having been approved by the govern
ment this year. But the only horses
allowed to go to Germany are those
considered unfit for Swedish military
service. For these somewhat aged an
finals the price has averaged over $500,
thus giving the horse owners a share
Of h prevailing prosperity. ....