Daily capital journal. (Salem, Oregon) 1903-1919, 1919-08-16

.lcNPenSe OF the OLD morning lcNees y
also considerable.
operation Of natural law. Under ordf.
nary circumstances high prices would
stimulate production; but at present
they do not, because labor leaders are
teaching their followers to produce less
goods and charge higher wages; pro-
cess that hindcrs, not helps the situa-
tion. and materially aggravates the high
cost of living. To very considerable
degree the solution Of the problem lies
with labor itself. Shorter hours and
higher wages create nothing but a vi
eiOus circle forming a sort Of prOfiteei
ling which is more injurious TO labor
than the prOfitteering of capital At
lpresent the labor movement is degener
ating into a class movement whereby
first one class and then another success
fully imposes its demands upon all 9th
er classes. Some strong public leader
ship is sorely needed to restore the
world TO sane, sound, economic thinking
for American democracy cannot thrive
under such class dictatorship. The la
bor profitteer and the eapitalistie prof
ittecr are one in spirit and purpose;
they differ in method only.
Foreign Trade Expansion.
The growth of our foreign trade is
simply amazing. In the twelve months
ending June 30 our exports and lmpci
were over SlO,320.0OO, 900, compared
with $425s, 100000 the same period of
4 lgi4. Within the short space of five
years our foreign trade has much more
than doubled and in no year was there
any recession Of consequence, but in
stead persistent advance. As these
figures do not include war material, it
shows that the war failed entirely in
hampering foreign trade, which leaped
ahcad II spite Of submarines and all
war devices. The chief gain was in ex-
lports, agricultural and mineral products.
| The tCtal exports for the year ending
Juue rose from $2,36400O,0O0 in 1914
to the record level of s7,224, 100000 in
/ 1919. an increase Of sl,S60, 100000 or
loycr 800 per cent, during the war. An.
other remarkable fact is that despite
the loss of imports from bellgerents,
cur tGtal imports also touched record
/ figures. being SS,095,000,000 for the
year ending June 30l9l9, aud $l.s94,
100000 during the same period previous
ITO the war. This was an increase Of
| 81 ,e0i 100000 the total being more than
doubled in thu time noted
So much Tor comparisons With pre-
war conditions. The increases compared
with a year ago were 81 $4,000 600 in
exports over imports for the war was
sl,l9s,000,OOO against S2,974,O0O,00O g.
year ago. This means an increase in
our trade balance of 81 l,lj4 900 900 in
our favor, which is not quite as start
ling ms some intimations had led us TO
expect. The most interesting figures,
however ARE those showing the resump-
tion of trade with belligereni countries,
Exports increased $227 100000 to Ber
gium, s93,000.0O0 TO France, ssS,000,000
to Denmark, $S,000,00O TO Germany,
sl9,000,0OO TO Italy, s97 100000 to the
: NflhtfMnNNt TtNfNNHftNN W NNiNdNf >
/ ga, 100000 10 Sweden aud Sl52, 100000
10 the United Kingdom. As 10 articles,
the greatest increases were, as might be
,cxpceted, in food stuffs. During the
Hast twelve months we shipped 954, 900,
GOO of breadstuffs, an increase Of 3sl,-
900, 600; and l,l67 100000 of meat and
dairy products, an increase of iSs,000,-
90 in dollars In mineral oils the gain
in values was only sl6,0OO,O00. The IN
crease in cotton was moderate in quan.
tits. but slas,0O0,0o0 in dollars. In inn
ports there were no important changes
aud owing 10 the war our export trade
was the most remarkable in our history
and promises TO SO continue for con.
siderable period.
Government Ownership.
In business circles there is more OF
less apprehension regarding the labor
crisis which has reached nm acute stage
and is likely TO defer many new en-
terprises because of the steadily rising
cost Of production The demand of the
railrood brotherhoods for various con
cessins, including that Of public owner
ship will focus public attention upon
these problcms more keenly than ever.
They will unquestionahy form promi.