Norwich bulletin., 1919-12-20

sent a total investment of apprOxi- l n1ately s161 100000, which is s2s, ,0000,- coo in excess of the total funded debt in 1918.
 Through the utilization of it's enormous water-power in transporta- tion and, manufacturing--thus over coming the handicap of shortage of domestic eoal-norway. it is believed, will show marked industrial progress in the future. Norway'S, large mer- chant marine and it's geographical po- sition are particularly favorable for the expansion of commerce and man ufacturing.
 Sweden-"Sweden, the largest, wealthiest and most populous of the Scandinavian countries, is in a par 1 ticularly advantageous position for
 the expansion of it's industries during the reconstruction period. A good be 1 ginning has been made in the develop ment of it's abundant water power | resources. During the war great i strides were made in building new i works, making the nation less de- pendent upon outside sources for pow er., The elctrictrifcation of the rail-
 ways has begun, and power is being
 transferred by cable to Denmark. "Sweden's favorable location with
 reference to the principal markets of
 Europe, and the possession of a large
 merchant fleet, but little reduced dur i ing the war, will stimulate the de- velopment of Swedish commerce and industry.
 Denmark-"The economic position of Denmark is stronger in many ways than before the war. The country S
 principal export commodities are
 among those now most in demand and likely to remain so for a compar- atively long while.
 i 'F;naneially, the governments po-
 sition remains favorable. Although
 the gross debt. approximately s1S9 :
 000,0G0 in December, 191S was almost double during the war the net debt
 may be regarded as negligible. In fact
 the productive properties of the state
 probably exceed in value the gross
 debt. The investments of the state, in cluding special reserve fund, the state railways and state forests, were
 valued on March 31, 1918, at about $500 0000 000 or more than $100,0Oe, ,O0( in excess Of the debt.
 Switzerland - Switzerland, sur. rounded by beligerent nations, main tai1sd it's neutrality at heavy cos
 to the government the army having
 bee mobilized the early part of tht war and kept in readiness for defens : to the end. In addition, the difficult, ; belligerents bore heavily upon som 7 branches of Swiss industry. But at th' : end or the war the country was in al } indus trial position which should pro duee great prosperity for the Swis
 people.
 ! The industry and integrity of tn - people Of Switzerland, as shown il ha,ir- ajo md IU;I1ir1 fo na-
 taxes to meet their. obligations war | rant confidence in the future pros }. perity of the country and in the con r tniued credit enjoyed by the Swis I government in the investment markets 8 The finances of the country, even i . the present period of adjustment ar r upon a sound basis, being supporte l. by strong situation.
 l. Spain-"Bor long time Spain ha s not held the place in industry an
 world commerce which the country C wealth and resources and it's superio Il geographical position makes possible T "On the eve of the war, however, new spirit of enterprise was makn
 itself felt. And because the favorabl e influences affecting Spanish industr 0 in the last five years were brought - bear at such time as to strengthe l. and accelerate forward nloVener ,-- already begun, the results promise, Il the main, to be durable.
 j. Spain was benefited indirectly | = the industrial and commercial dis
 turbances. growng out of the war nor
 perhaps, \than any other neutral Et
 ropean country, and it's industrial rt
 awakening the beginnings of whic IS: are so clearly in evidence, is fortunate J. ly timed and is supported by varie II and rich natural resources. Most in l. portant of all, the imperishable priC h of the Spanish race is re-asserting of self in the direction of industrialisl
 Spain it appears, is moving fo s ward to reoccupy a place among u lg foremost industrial nations"