The Bridgeport evening farmer. [volume] (Bridgeport, Conn.) 1866-1917, 1917-08-27
|Wor of Finance

face from destruction to RECONSTRUCT
ton would at once set loose great eco
nomic forces. Optimism would
promptly succeed despair, and the
work of rebuilding and reafrangfng
the civilized world would start with
vigor that would soon overcome all
confusion and hesitancy, Our steel
mills would receive no more war or
tders but far better, they would be
pressed with orders for shipbuilding,
for railroads, for buildings and for ali
kinds of construction work in all
parts of the world Our textile mills
would soon recover from loss of war
orders and be fully occupied with
both domestic and foreign orders.
Our secondary industries, such as au-
tomobiles, typewriters, agricultural
implements, machinery, etc, would
also be pressed with orders to make
good war losses in Europe. Our min
eral producers would be equally sure
of good markets and good prices; so,
too, would the American farmer who
may rest assured of good prices for
all he can grow for some years to
come. The truth is war has inpov-9
erished the whole worldd. The waste
VI AiAE clAAA NCtbllAA HAS DScll4 lIlCOII-
ceivable. Millions of lives have been
destroyed or impaired, and, the ex-
pendftures for war since 1914 of all
nations have been over SOC, 900 ,00o,-
900 Everything grown or made by
the hand of man is scarce. Years will
be required to refill the enormous
vacuum, and the scarcity of men or
labor alta time when most needed
means high wages, high prices and a
long period of industrial activity OF
course, there will be periods of weak
ness and depression. There will be
grave impoverishment of some sec.
tions, as well as the crushing burden
Of debt upon all. Difficulties, at pres
sent unperceived, are likely to, develop,
and recovery from war does not mean
escape from all its losses. But let it
distinctly be kept in mind, peace
when it does come will find the United
States elevated to pre- eminence in
dustrially, Commercially and financially
that would have required q, genera
ton to attain, had it not been for this.
cataclysn in Europe. The war en-
riched us enormously, because of the
profits obtained in our foreign trade
and the fact that we have been the
least affected of any Of the great ma
lions. We have suddenly become
world bankers, securing position
that will not be surrendered. Even
should Great Britain recover her
leadership after the war, we will still
be a close second, instead of a distant
third or fourth as before the war.
Our foreign trade sl1ows phenomenal
growth, and while a better balance
between imports and exports may be
necessary. still we have gained a foot
|-hold in foreign markets that will not
be reIinquished. The future of Aneri-
can export trade is exceptionally
brilliant.z BY far the most significant
result of the war to Americans will
States 70 hitting position as a, mari
time power Our weakness in this
respect has long been a thorn in our
national pride. Before the war we
ranked close to the foot of the
| worlds going tonnae Sc; but with
| in a couple of years, thanks to prompt
seizure of a favorable opportunity,
this country may easily become a
good second to Great Britain as a
maritime nation The blishment
of big mercantile marine speaks
volumes for the future Of American
foreign commerce. The war brought
us two essentials for international
success banking power and our own
shipping. 1t is literally up to our bus
mess men and our statesmen to pur-
sue q liberal and constructive policy
| for developing our foreign trade and
lour merchant market This cannot
be accomplished by any system of
tartiacial supports. reprisals or dis
crimination. It can only be accom-
pIished on a sound basis by bearing
in mind that If we went to sell abroad
we must be equally ready to buy. since
bforeign trade in the mass is nothing
more or less than simple barter. Nor
can 1t be too strongly Impressed upon
LEADERS OF ind astry and politics that
the fewer restraints we impose upon
trade. foreisnsor domestic, the quicker
| and stronger will be its growth. Com
nerce thrives bestz when least
| shackled. Incidentally, it may be
said, the best safeguard against war
1 is widely distributed commerce, be-
cause nothing will do more to pre-
serve peace than the open door and
equal opportunities to all.