The midland journal., 1916-10-27
PROSPERITY NOT DUE
y 40 DEMANDS OF WAR
Bulk Is Ordinary Business, De-
cIares Charles M. SchWab.
$500, 900, ,0O0TRADE BALANCE

Department Of Commerce Figures
Show Vast Gains In WeaIEa-Under
Wilson United States Is Creditor
Nation For First Time - Munitions
Business Only Per Cent Of Total.
In answer to the cry of Republican
politicians that the unprecedented pros
perity that has come to America under
the administration of President Will
son is due to European war orders
comes a statement from Charles M.
Schwab, head of the Bethlehem Steel
Company himself Republican, that
ref1tes the charge.
at is a mistake to imagine that the
major portion of our business is war
order business" says Mr.. Schwab in a
signed article in the October number
of System. "Even casual inspection
Of the great volume of exports will
demonstrate that the bulk 10 drawn
from the ordinary course of business.
II 10 also found that at present prices
domestic business is as profitable 40
foreign munition business"
No one can doubt the capability Of
Mr.. Schwab to judge the business stu
GkiQn, nor can one gainsay the recent
dres issued by the Department Of
commerce In this report it is stated
that during the first eight months of
the present fiscal year the exports of
the United States showed a trade bal
ance in favor OF this country Of ST.
730,O00,0OO.
Trade Balance $2,50o, ,o0o,0 600.
I Predictions are made that the trade
balance for the entire year will exceed
the unprecedented figure of $780, ,O00,-
600. The value of the exports for the
eight months was $3,435, $780, PIP, an
increase Of 81, ,205. 1872. 100 over the same
period last year.
Another financial authority, too, has
spoken - Charles Hayden. Of Boston.
He estimates that American securities
held abroad have been reduced from
$6000O00,O00, before the war, to ST.
O0O,O00,O00 at the present time. Coin
cidentaIly, the United States has be-
come a creditor of foreign nations, for
the first time in history, to the extent
Of 81, ,5OO,O00,O00 Under Wilson, there
fore, we have wiped out $6,000,O00,000
of foreign Indebtedness. and are
creditor to the amount of $500,000,O00.
Mr.. Hayden calls attention to the
fact that this always was debtor ma
tion under Republican rule.
All Glasses Prosperous.
And SO. from all sections of the coun-
try. from all kinds and classes of
business, from the merchant. the
manufacturer the farmer, the work
ingman, come reports of unparalleled
prosperity. The Chamber of Com
merce of the United States. in an off,
cial report, declares that basic stocks
are rising, that railroad earnings are
abnormally high Indicating the great
movement of commodities). and that
the national prosperity will continue.
: Not temporary prosperity. due to the
war, is this that is filing the Golfers
of the nation. 1t has sound basis for
permanency, made certain by the laws
enacted under the Wilson administra-
tion. The President himself. in his
recent speech at Baltimore, emphasiz-
ed the value to the country Of the
Tariff Commission, the Trade Commits
sion, the Federal Reserve Board and
the.Shipping BILL These enactments
MOI only will stimulate the productive
ness of the country, but will safeguard
its output and provide means of con-
veying it to all the ports of the world
How Business Has Gained.
Here is just p glimpse at percent
ages prepared by expert statisticians,
that prove what the Wilson admins
tration has done for the people:
Increase in bank deposits. 6S per
cent; money in circulation. % per
cent; stock of gold In United States,
S4.1 per cent; foreign commerce. 52.7
per cent; balance of trade In favor of
United States. 2S7.6 per cent; agricul-
tural exports, AL per cent; manufac-
tured exports. 155 per cent; railway
revenues. 47.6 per cent; value of gen
eral crops and live stock, 12.4 per cent;
value of wheat crop. 67.5 per cent;
output of pig iron. 35 per cent; produc-
ton of steel, 35.5 per cent; farm lands,
TT per cent; men employed in manu-
featuring, 1872 per cent; wages paid
In manufacturing. 41.5 per cent; cap
ital employed in manufacturing, 800
per cent; value of manufactured prod
ucts. 41.2 per cent
So, it may be seen that all lines of in
dustry have profited under the great
wave of prosperity that the Demo-
cratic administration has wrought.
AND THE MUNITIONS BUSINESS
& COMPRISES ONLY ONE PER CENT.
OF THE TOTAL OF MANUFAC-
= TURED PRODUCTS.
ls it the part of wisdom, therefore, to
hamble with prosperity such as this2
Will the American voter dare to
throw away a sure thing?
Pine-Tar Relieves A Cold.