Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1923-06-13
World Competition

The similarity of business condi-
lions over the world is illustrated by
the following extract taken from a
letter from Denmark written by the
agricultural correspondent of the
London Times. It reads almost as
though it might have been written
from the United States:
denmark has suffered with other
countries in the financial stress of the
past few years. Last year tried many
farmers severely and ready money is
almost as scarce as here. Production
remained at about the normal level,
but low prices reduced the revenue.
while the cost Of production was
slow to fall from the wartime STAN
dard IN any respect, and in some di-
rections it has increased. Wages and
their equivalent to the small farmer
and his family are about 21a times
the pre-war figure. The hours worked
have been reduced, though they are
still longer than here. Implements
are dearer, owing to the operation Of
the eight-hour day in factories. And.
above all, State and local burdens
nave increased to four or five times!
what they were in 1918. All these
changes have told seriously against
the farming industry, and if the losses
nave not been so severe as in the parts
OF England where the main sources Of
revenue are the produce Of arabia
land, the financial year which ended
at Michaelmas, 1922, was extremelv
discouraging. I was informed that
such members Of the Agricultural
Union as kept audited books could
show only 1 per cent. return on the
capital invested in their holdings. /.
There is a disposition to take a
brighter view of the current year. al
the winter prices of the chief COM
modities have ruled higher and the,
markets show q greater activitv.l
There has been relapse in the spring.
but unless something unforeseen oc.i
ours the farmers of Denmark hone
and believe that by means Of their
wonderful organizations, intelligent
~ conceived and efficiently conducted.
they will contrive to pull through thel
trials that they are sharing with the
agricultural communities in all coun.
tries"
And if one is disposed to think that
agriculture alone has suffered from
onremunerative prices, he may turn
to the recent report Of the Chamber
Oh Shipping of Great Britain. and
read what its General Manager savsl
Of the trials Of the great Shipping
industry Of that country. He says
in part: -.
"Freights have, in some cases. fallen
below the figures for 1918, in spite
81 the continued high operating costs. I
due to the exceedingly heavy docE
charges made. =" A slight reduc-
lion in the wages Of officers and men
mas recently been negotiated in
friendly atmosphere, and thus thu
country has been spared the disaster
Which seamen's strike would have
But in spite of this
economy in working costs, the indus
ny is still struggling in q sea OIL
,rouhles' British shipping is open tol
world competition, and not always|
ar competition. While shipowners. +
mike the leaders in some industries'|
rave sought no form Of subsidv -
protection from the State. every ef.i
ort must be made to avert Threats
y discrimination and remove it wherel
exists il they are to continue "a
'ender efficient service to an ialandl
n.kx4As--: Il 100 9. --..,->A