The Sunday telegram. [volume] (Clarksburg, W. Va.) 1914-1927, 1916-09-10
Three Neutral Nations
GROW Wealthy Quickly
Denmark, Norway and Sweden
Enjoy a Wave Of Prosperity
as Result of the War.

L PIVBAVS oAI Abl 6NAkll6 bbillG VI Lllb
vicissitudes Of the small neutral in
the midst of the European confagra-
ton, 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
and Sweden already have paid off, or
have sufficient funds in the state cof-
fers to pay off, all outstanding foreign
Indebtedness. So in brief space Of
time the three small neutrals lying
nere in the very lap Of war, but not
Of the war, have been transformed
from the borrowing to the lending
class.
Easy to Pay Debts.
The process of paying of foreign
obligations has been materially facili-
tated by loss in value OF foreign ex-
change. The German mark has led
the International monies downward
with loss Of more than thirty per
/ cent. The English pound. the Ameri-
can dollar, the Russian ruble, the con-
tinental franc all have been quoted
on the Scandinavian bourses at loss
OF ten per cent and upward, so that
the foreign buying power OF the Scan
has been permitted has great
ly advanced. Sweden has Dor
rowed much money from Germany.
Wartime trade with the blockaded
Germans has brought enormous prof
its. This fact, combined with the
cheapness Of the German mark has
enabled the Swedish debtors to wips
4 out many million crowns OF Teutonic
obligations.
When prosperity first came to Scan
dinavia it vas distinctly 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 minipulators Of American war
brides" appear as amateurs. But
gradually the inflow Of money affect
ed all industries. Unemployment be-
came unknown and the skilled labor
ers received high wages. The farm
ors participated in the prosperity from
the beginning, and their share has
been steadily increasing until this
year they will divide a crop yield estl-
mated at more than 100000, 900
against normal of less than half
! that amount. This remarkable yield
Is due both to the bountiful crops
and the increased values of foodstuffs.
The middle classes of the cities, the
salaried employees, have as usual been
caught between the millstones of high
prices and big profits. the salaries hav-
Ing in no case kept pace with the in
creased cost of living.
Big Bank Deposits.
Savings banks and commercial
banks show deposits far in excess of
any expectation. LuXuries are in
great demand and of course bring fab
ulous prices. The summer resorts re-
port record season. People with
home products 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 foreign exchange and increas-
ing the value of materials and food
stuffs now in the Scandinavian coun-
tries. There are plenty of complaints
naturally among the importers who
appreciate the wonderful opportunities
of prosperity 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-necdcd
foodstuifs in compensation for the
German coal. chemicals and other OK
ports sent to this country. Coal al
ways 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 pro
hibitiye. Part OF the compensation"
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 30 to Germany are those
considered unit for Swedish military
service. For these somewhat aged an
mals the price has averaged over
S4O0 thus giving the horse-owners a
share of the prevailing prosperity.
Swedish manufacturers have shown
wonderful increase since the war
began Russia has become a great
purchaser Of manufactured goods, es-
pecially since Russian factories have
been turned TO munition-making. The
Swedish manufacturers have complain
ed the most bitterly against the Brit
ish blockade regulations, not having
been able to get all the raw materials
they needed
Treasures Overflow.
The governments of the three Scan
dinavian countries were quick to see
the trend of the times and by special
taxes and heavy income leyies have
filled the national treasures to over
flowing. One American concern doing
business here in Stockholm paid last
year tax of twenty-eight per cent
on its net profits. The stamp taxes
on tobacco and liquors have steadily
increased. On cigaret packages SELL
ing ordinarily at seventy-fiye cents for
fifty cigarets thirty cent stamp has
been placed. Part Of their enormously
increased national revenue has been
devoted to the maintenance OF armed
neutrality. the naval and military en-
penses having been very heavy ever
since the war began.
Tho NOryepians with their yraoItL,