The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1917-12-06
fAmerican. Economist)


,,o redness is an essential ele-
mont alike in human, social and pol
,.,aaI preservation the failures to pre-
AGAINST possible, not to SAY OBJ
ms danger is to invite disaster, and
;. &c snre to cdAne The whole world
l. now having demonstration of this
f,ct Had the allies been reasonably
nrenared for protection, it is
more than probable that this war with
-, sickening carnage and destruction
Of millions of human beings and
thousands of millions of treasure,
world never have occurred
This Is equally true of the United
states. Our unpreparedness was so
obvious and our spirit of shrinking, if
NOT cowardly, paciflsm was so mani
fest that no nation was too contempt
ible to insult our flag, to plumber and
murder our citizens, or to violate our
territory.
The opposition Of the administration
70 every suggestion of preparedness,
backed by the .'too proud to fight and
"reace without victory" talk of the
pr esident, was an invitation for the
worlds contempt. And we got it.
The sinking Of the Lusitania, the
Arabic, the Sussex, and other unarmed
passenger steamers without warning,
and the murder of hundreds of Am
erican men, women and children in
cold blood on the high seas, was the
response which made war inevitable.
Thus, instead of maudlin pacifism and
unpreparedness securing for us peace,
it has forced us into war, with all that
involves.
Importance of Industrial Prosperity.
What has thus been demonstrated
of military unpreparedness is equally
true of industrial unpreparedness. Ec-
onomic prosperity is no less important
security and political independence
In fact, without economic prosperity
neither military security nor political
independence can long endure.
In dustrial prosperity is the vital
spark in national life. 1t is the basis
Of social welfare and the handspring
of human progress. On the other
hand, industrial adversely is the dead
hest poison to national life. 1t de-
stroys optimism, STILES patriotism and
deadens morality 1t aids all the
vicious influences of distrust anarchy,
and social disruption. With continued
industrial adversely and social pessi-
mism, nothing matters.
Clearly, then, perpetual prepared
ness against economic adversely is the
cardinal feature of sound statesman
ship.
Prosperity is not thing; it is
condition. 1t cannot be made to order
for small class nor be confined to
a favored few. Industrial prosperity
is born only of the extensive and con-
tinuous operation of the economic
forces
Must Have Market
The first and fundamental condition
of economic activity and industrial
prosperity is demand-a market. 1t is
an economic truism, that demand
creates supply, that consumption in
duces production, that wide and con-
slant buying means extensive selling.
In short, that a strong and growing
market is the creative opportunity for
economic activity and industrial pros
perity, with it's increasing profits, ris-
ing wages and growing social welfare
And conversely: That with weak or
declining market sales fall off, profits
diminish, wages decline, and business
depression with all it's attendant social
evils sets in.
Manifestly, then, no price can be too
high to secure national prosperity, and
no price can be low enough to justify
economic adversely.
At whatever cost prosperity is al
ways cheap and adversely is always
dear.
How to procure and preserve buy
ing market is the all-important prob
lem for every nation.
It is a truism that an adequate
home market is more economic and
more profitable and hence more con-
dpctive to domestic prosperity than
foreign markets Besides being less
wasteful in large transportation and
other expenses, home trade gives the
benefit of the wages and profits of all
the buyers, sellers and producers to
the home country; whereas, foreign
trade gives a large part of these IN
comes to foreign countries
Moreover, domestic trade depends
upon large domestic consumption
which means consumption by the
masses.
Thus, under home market conditions
business prosperity depends directly
upon the high wages and large con-
suming power of the laboring classes
Must Have Home Market
With foreign trade this economi
relation is reversed. When, and tt
the extent that manufacturers depen'
upon foreign trade for their success
they have no economic interest in tn
welfare Of their laborers. AS the con
sumption Of their laborers forms n
mart of tho arlxat for their products