The Bridgeport times and evening farmer., 1918-08-07
HENRY CLEWS WEEKLY LETTER

sAe war has now entered upon It's saS year; and though victory may ot he immediate, 1t Is more assured han at any time during the struggle he German offensive, which began |Tarch last, has completely failed ln B prime objectives; the initiative CIV having passed to the AlneA those strength increases daily trough the rapid arrival ot fresh nd eager American soldiers who are |lready making themselves a telling actor in the military situation. The av cannot be very far distant when he German military power will be roken; and the vast structure will isappear from the map. Germany continuing her methods of war are, faces ruin, misery and hate as enaIties for the exercise of ruthless ruelty and ambition, while the AL es face freedom and the loftiest opes in human history. One of the iost untoward events of, the week ras the unfortunate pacifist state ,ent issued by the Marquis of Lans- owne, whose high reputation as a tatesnan gave undue weight to his tterance, His words can on2y re- ut in encouraging the enemy pro )nging the war and aggraTating the -oubles of the Allies.
 Tremendous activity exists in ev- ry line of industry connected with he war, proving the energy and de- ermination in which this country Is onducting the struggle. Steel of purse leads in importance, because
 Is the most essential material in -ar. The government Is steadily ex- anding its quota of the output; and nly a small percentage Is granted for ther purposes. The largest tonnage present Is for ship steel, but the rders for all war materials are upon
 growing scale. The Steel Corpora on's earnings for the last quarter ere simply phenomenal, amounting $153, 100000, of which over $90,- DO, 900 will go to the government ih axes. Steel wages have again been Increased, and are now double what 1ey were in 1915. Textile industries re correspondingiy busy, and though ot making such extraordinary prof. s are still enjoying much prosperity Tor all raw materials there Is an eX- client demand; and while scarcity
 often less pronounced than during ne early stage of the war, prices are maintained at high record. Wage! re generally advancing; costs ot reduction rise fin consequence; ther ne demand for still more wages i! epeated, and so the serious prac ce runs on. Apparently nothinE an stop this rising tendency O rices except exhausted buying pow and imperative economy. The lat pr fs already appearing, sometimes s a patriotic necessity, but chiefly ecause in many families buying ower Is on the decline, luxuries are ntirely omitted, and in many in. tances tho consumption of essen als is materially curtailed. Econ my, however, Is not popular eitne rith those enjoying war profits 0 rar wages; and war industries, vii ertainly be active for months t ome. It should be remembere hat the bulk of the $24,000, ,000, ,0O Jhich this government expects t aise by loans and taxation durin he present fiscal year will be almos ntirely spent in this country. Tn de of war imitation Is still runnin trong, in spite of more frequent re ctions.
 The Ways and Means CommYtre
 Washington is actively at wor
 rafting a new tax bill. Almost dail tatements as 70 what is proposed al
 iven out for the evident purpose (
 aviting criticism and testing publ
 pinion. Not less than 5000, ,OOO, ,OC
 f revenue is claimed to be wante
 or the fiscal year. It is hoped {
 aise about 5000, 100000 of this SUI
 rom excess nrofits tavas. h11t tl,.