Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1919-01-02
BRADSTREETS REVIEW
OF BUSINESS YEAR
War. and It's Enthusiastically
of Goods Chief Complaint
Failures at Low Ebb--Fcwer
People in Busincss--Prospects
for 1919 Favorable

War certainly held the center of the
American executive that force without
limit would be exerted by this country
in the great battle for freedom was
brilliantly fulfilled. So immersed were
the American people in the conflict that
war may be said to have become their
chief, indeed almost their only, business.
With the great war apparently ended
it needs to be said that no human being
expected it to last the length of time it
did, nor that the financial costs thereof
probably S1S0,oo0Oo 100000 to $500 900, 00o, O00)
could have been 80 successfully borne by
the world. OF our own part in It, it can
be said that while our financial costs have
been great perhaps $4,000, 600, 600 to date
our own loss of life directly due to the
hostilities or to disease and attendant
evils, while regrettably large in our eyes,
was slight compared with either those of
any of our foes or of our Allies.
LOOKING FORWARD
While certain amount of the buoyancy
with which the victory of the Allies was
greeted has disappeared and readjust-
ments from war to a peace basis in
industry have made for q good deal of
uncertainty due mainly to the question
of the future of prices and the disposition
of unneeded war supplies, there seems
to be no good reason for taking counsel
of our fears as to what is to happen
after peace terms are signed. Unless all
past experience is at fault, most of the
problems arising are very similar to those
encountered in other periods of readjust-
ment following widespread hostilities.
We believe that a big potential demand
N dc ax-ic
known that there is and will be n ire
mendous demand for food products from
Europe, while materials for clothing and
for shelter and implements of agriculture
will probably be badly needed The
United States having suffered the least
OF all the belligerents should b in a posi-
ton TO supply these demands, as we have
a good share of the food and the raw
materials which the world needs and
our prestige has certainly not suffered at
the hands of the two million men who
have represented us in Europe. We also
have-what we hitherto lacked-a big
merchant marine capable Of serving our
importers and exporters, and our loans
to Allies and neutrals have given us a
financial footing In the markets of the
world OF which our bankers probably
will not be slow to take advantage II
1T is necessary to finance our customers
throughout the world to enable US to sell
goods, we can do II. because we financed
Europe when the possibility of returns
was not nearly so good as now. We
also have larger capacity for output and
certainly greater ada ptability for cater
ing TO foreign demands, whether of peace
or war. In fact, we have reached in a
few short years a position that it took
Great Britain generations to achieve.
Fears Of unemployment of the masses
should be considered with the known fact
In view that immigration, which should
nave given us 100000 persons in the past
rour years, has been almost at a stand
still. Furthermore, We are not sure that
our whole army IS coming home much
before year from now. War taxes are
source of apprehension, but these two
should be looked at in the light of tbs
fact that taxation in this country has
not assumed the all-pervading character
impaired to 1t in Europe by centuries of
custom and precedent Unless most
signs fail, the possibilities of future
State control, Interference or regula ton
are not so great as seemed certain when
We were in the full stress of war
Lower prices may come, not all of
them at once, by the way. and may de-
with the processes of proper readhIst-
ment While war imitation may have
been responsible for some of the present
high prices the latter in the last analysis
merely spell scarcity, which it should
be our work to remove. and in removing
make business friends who Will stick and
customers who will come again No
headlong break in domestic prices seems
probable with the purchasing power of
our people so high; supply and demand
conditions what they are; stocks Of goods
| outside of government hands not, bur-
densome; those in government control
| large perhaps, but, promising TO be liquid
ated conservatively; credit conditions, as
reflected in failures sound: the farms Of
the country such mines of wealth, and
the outside worlds needs so great.