The Lake County times. [volume] (Hammond, Ind.) 1906-1933, 1917-12-31
great banking power and its immense
and highly organized industries.
Rehirth Of Shipping and Chemical
Industries.

ana 0lEnlN ORGANIZED industries.
Rehirth Of Shipping and
Industries.
Another remarkable effect Of the war
upon the United States has been our
almost instantaneous leap from the
bottom SIS a maritime power to next the
top. Thanks 10 the submarine. We were
forced 70 offset its ruthless work by
building ships TO the extent Of over
1000, coo tons in 1917. while in 1918
IL is expected we shall add another
100000 tons. Our present building
programme calls for nearly 100000
tons. Thanks TO the submarine again.
we shall quickly occupy the place which
erman formerly held as second mari
time power of the world. Great Britain
still easily holds first place, which she
has retained for many years as the
largest merchant in the world. Her
great mercantile feet is the outgrowth
Of her vast empire and the enormous
built up by her worldwide
liberal policies. Our own newborn ship
ping industry, which came 10 use so
Unexpectedly. has 9 critical period To
face. Il was created in a time OF fabul-
Gus freiiht rates ana has yet 70 meet
the stress Of intense foreign competi-
ton. Europe has long been able 70
build and operate ships much more
cheaply than We. through possession of
a supply of skilled labor and manage
ment not yet available in the United
States.
The miraculous birth Of = great
chemical Industry should not be over
looked. Since the war began. over $500
| 100000 have been invested III new
chemica ventures in this country. Con-
siderable Of this sur was for the manu-
~facture Of explosives. but rauc Of II
has been applied 10 chemical and dye
plants that viii become a permanent
factor in American industry. This in
dustry means another big loss to Ger
many: and it has still to face a critical
period when normal conditions return.
German competition in dyes and chemi
| Gals after the war will unquestionably
be severe.
The Rush Of Foreign Trace.
Our foreign trade Is e%xpending at a
tremendous pace. During the ten
months ending October ). American *
ports reached $3.50, 600 900. an increase
or S707.0 600. 600 over tire same tirne iast
year. Presumably these nsures include
shipments of munitions to the Allies,
but not those intended for our own
use. Imports OF merchandise during
the same period amounted TO s2,504.-
600. 600. an increase OF S494.0o0 600. This
LEFT an excess or exports for the ten
months amounting to sass. 900, 600. or
$4,000 600 more than 3 year ago.
While this great balance in our favor IS
being gradually l~iquidated in various
ways. the great bulk Of il is unques-
| tionabiy being met by credits III the
form Of notes and bond issues TO cur
Allies.
Hope for the Future.
As we close the year the question can
hardly be avoided, what has brought
this holocaust Of misery and hate into
ine world? Nothing but a soulless.
ruthless autocracy. bent upon trampline
over he liberties OF the entire world
Simply 70 accomplish its own tyrsnni-
! cal seinsh ends. The result is :. verit-
able day of judgment against the ~or-
saip Of force and egoism which are the
basic ideals Of P-ruEsianism. Fortunate
NY these ideals are 50 hostile to human
nature and so incompatible with the
modern sense of liberty that they must
and will be rushed; the uprising of the
whole civilized world f%oreboding their
extinction.
Concerning the future the immediate
outlook appears dark: because. whiie
confident of victory. the price has not
| been paid and cannot be paid until mill
tarism has been destroyed. 1t may be
that peace will come sooner than OK
pected: an event for which the country
| can devoutIy pray. Come Ii will event
uallv. and out Of the travail and pain
through which we are now lsboring 8
new and better world will be born. There
will still be unrest and strife. but blood
she'd will cease. hatred will subside.
more humane and more ethical stand
ards Of conduct will prevail; and for
| the new generations TO come we may
hope for an era Of peace and good viii
growing out Of this life and death
struggle between democracy and auto
| cracy. Hope should be the keynote Of
the new year.