Ladysmith news-budget. [volume] (Ladysmith, Rusk County, Wis.) 1907-1927, 1919-08-08
Valuable Information on BuSi
ness and Crop Conditions
Throughout Country
STRIKES MAY CAUSE
BOOM TO COLLAPSE
Keener Competition and Greater Eli
cheney i'm All Lines of Business
is FOrecasted

The following business digest is
furnished the News-Budget by special
courtesy of the Eau Claire National
Bank:
The whole country is experiencing an
era of good business which is fully up
TO normal throughout the United States
and far above normal in the northern
most and sOuthernmOst states. Whlle
the business spirit is optimistic, labor
is i'm n turmoil: strikes are numerous
and the number of workers affected
directly and indirectly ruas into mil
lions. Wages being lost by idle strik-
ers is materially reducing the total OF
wages paid out in the country Whlch
will have the same effect on reducing
thp cost of living as though wages had
act1aIlv been reduced. Wage increases
are being granted quite generally, many
voluntary increases being made, but II
we subtract the wages usually pald by
mills and operations now wholly or
partially shut down because OF strikes,
we will find the total of wages pald IN
tbe country in dollars and cents is less
today than if was three months ago.
Aside from strikers, labor is fully en-
Moved and the number of idle in cler-
ical and professional lines is growing
small. There will be job for the re-
turning soldier when he arrives for he
then becomes a direct consumer as we'll
as producer.
Bank Clearings at the principal cit
les for June exceeded "a billion dollars
compared with 33 billion dollars for
Nav and u billion dollars for June OF
last year. Exclusive of New York City
clearings were over IA billion dollars
compared with the same amount In
Nav and with - billion dollars year
ago. the increase over last year for the
entire country being $3.50 and eX-
elusive of New York City 1870. Clear
ings for the whole country and for the
country outside of New York set new
high record for any month. Business
is strong and many lines are reporting
record breaking transactions in fact,
we are i'm the midst of postwar boom,
the duration of which depends upon Ia
Dor more than upon any other single
factor Should strikes become too
numerous the boom will collapse or,
should labor become too scarce, bust
ness will gradually let down from its
present high totals.
Exports of Merchandise during May
were valued at COG million dollars COM
pared with 715 million dollars in April
and 551 million dollars in May of last
year. Imports were 800 million dollars,
a new high record for any month, and
compare with 273e million dollars in
April and 323 million dollars in May
1918. leaving Il favorable Balance OF
Trade of 277 million dollars compared
with 442 million dollars in April and
22S million dollars year ago. BY the
extension of European credits and the
purchase of foreign securities we are
providing the means of increasing our
exports of merchandise without the
necessity of increasing our imports.
We are still importing a great many
things which we already have in abund-
ance in this country. During April we
imported agricultural implements. cat
tie, horses, sheep, hogs, corn, oats,
wheat, cement, copper, cotton, eggs.
steel ingots and bars, railroad rails,
sheets and plates. lead, fresh beef,
veal, mutton, pork, bacon, hams sau-
sage tallOw, butter, fresh milk, con-
denscd milk, mica and innumerable
other things which we either have on
hand in abundant quantities or could
produce in this country. In it's new
position as Il creditor nation, it is now
the business of the United States to de
crease it's imports and increase it's ex-
D@ts which ciin be done almost with
out limit by the extension Of foreign
credits and the purchase of foreign Sc
CuritieS.
Trade avenues to Germany have
been declared open which probably
means that this country will sell large
quantities of goods to the central
European countries, but it is unlikely
that manufactured products from Ger
many will find full favor in the eyes
of American buyers for at least a gen
GRAFTON as Americans will long remem.
Der the Lrsitania. German manutac-
tured merchandise now in this country
is not meeting with ready sale. Raw
materials from Germany needed as
fertilizers or in manufactures will come
to this country in large quantities.
Business failures during June num-
bered only 449, new low mark, ano
compared with 4S7 in May and 776 II
June of last year Liabilities OF the
failed concerns were eight million dol
lars compared with ten million dollars