Evening star. [volume] (Washington, D.C.) 1854-1972, 1918-12-31
= OUTSTANDING LANDMARKS IN POLITICAL
AND ECONOMIC HISTORY OF 1913


In the economic history of the great
war the sequence of events this year
is very notable, for the reason that
there were comprised within the
twelve months the period Of greatest
doubt since 1914 as to the result of
The war itself; the absolute climax Of
TIE financial and industrial strain and
Tn, sudden ending of hostilities. In
none of those years did the belligerent
countries turn their resources and IA
cilities so exclusively to war finance.
war production and war transporta-
lion. When the end came in Novem-
Der it came with suddenness not an
tIcipated even in the peace talk Pc
Rod" of December. 1916. and with
results on the markets wholly differ
ent from what had ever previously
been predicted.
From a broad and comprehensive
survey of the economic developments
of. the year several large general
facts Will appear. Germany had ap-
preached a stage of industrial and
financial overstrain which threatened
economic breakdown. Austria. by her
own statesmens confession, had al
ready reached that condition. Eng
land was showing signs of the ter
rife strain. but also of an economic
power which was certain to- outlaSt
the war. France, Notwithstanding the
midsummer talk of her having been
already ''bled white" displayed her
own reserve capacity. not only in her
immense military effort, but in her
subscription of the second largest
amount ELECTED by any war loan but
one of any country. Italy also had
exhibited unexpected power of re-
cooperation. What the United States
body needs to be told.
The events which bear on these
conclusions are grouped in the fol-
lowing summary; they deal chiefly,
but not wholly, with regard to deyel-
"pmentS Ill this country. They give,
from the economic viewpoint, some
hing like a panoramic history of the
war.
January 29-Secretary of Treasury
iahes over control of exchange
markets.
February Announcement offici-
ally made that Russia has withdrawn
from war.
February 15-Official announcement
made that all imports and exports
viii be licensed.
February 2S-President Wilson fixes
price of wheat at $2.20 per bushel.
March 4-Rumania accepts German
peace terms.
March Senate passes War Fin
an Corporation bill.
March 14-All-RusSian congress of
so. -,,s ratify German peace treaty.
March 10 Interstate Commerce
Commission grants eastern railroads
fifteen per cent increase in rates.
March 21-President Wilson signs
railroad control bill.
March 27-United States Steel Cor
poration grants fifteen per cent
INCREASE in wages.
April 15-Count CZernin, Austro-
hungarian premier, resigns.
April 18-Senate passes bill to melt
so, 0O0,0 900 silver dollars.
May Third liberty loan campaign
ends
May s - Peace treaty between
central powers and Rumania signed.
May 14-Oyerman bill passes House,
@45 to >.
May 21-Director General McAdoo
removes all railroad presidents.
May .7-President Wilson addresses
Congress on new Observation-Disclosures
administration announces twenty-five
per cent increase in freight rates;
also increase in passenger rates; wage
increases also granted.
May 2S-Secretary McAdoo merges
express companies.