AMERICAN TRADE BOOM.

Press, Volume LII, Issue 15561, 10 April 1916, Page 8

AMERICAN TRADE BOOM.

EFFECTS OF THE WAR

OFFICIAL STATE REPORTS

However irksome may be the restrictions imposed by the British blockade, trade figures published by the Washington Government make it abundantly clear that commercially America is doing remarkably well as a result of the war. Conclusive first-hand testimony on the subject is furnished in a striking series of reports contributed by the Governors of States thoughout the Union to the Philadelphia "Public Ledger," and published bv that journal on January :2nd.

These offleiais were asked to furnish I a statement as to the industrial and J business conlitions in their several States at the opening of the new year — how far the war had affected these conditions. the outlook for the future, and the state of employment. By January Ist, 28 Governors had replied personally or by deputy, and the general effect of their communications is tnat, owing in a large measure to the war, the country is enjoying unprecedented prosperity. The "Ledger"' itself finds the outstanding* features of the reports to be as follows : —

"Business has improved in varying degrees from 'better than a year ago' to the 'best on record.' Tho European war has been, on t-lie whole, a factor in the improvement, and its continuance is likely to help business further. Aside from business benefits due to the war, tho general outlook is good. Unemployment is at a low ebb. and, in general, there is a job for every man who wants work."

Practically every part of the Union is sharing in the boom. The great industrial centres, the mining areas, the cot-ton-growing districts, and the agricultural and stock-raising States, all report active and expanding business. One enthusiastic official assures us that "the cry of hard times falls on deaf ears in Nebraska right now," a phrase which must equally well sum up the position in the great majority of the States, brought under review. An index to the general prosperity is provided in the statement that in 1915 no less than £80,400,000 was paid to motor manufacturers in Michigan for the products of their shops and factories. Incidentally, an interesting example of Germany's forethought and enterprise is revealed in the report from Montana, where there are great copper mines: — "On November 30th it was announced that orders for copper aggregating 200,000,0001b —nearly one-fifth the' annual production in the United States— had been placed by German representatives *with copper concerns in the Union. This metal will be placed in storage and shipocd to Germany for reconstruction after the war." "UNPRECEDENTED DEMAND." It is not possible to give a detailed summary of the reports, which fill many columns, but a few typical extracts relating to representative States in different parts of the Union will suffice to indicate their character. Governor Charles S. Hamlin, of the Federal Reserve Board, writes: — "During the lato summer and past autumn wo have been sending goods to Europe on a credit basis and financing our own exports. The result of this unprecedented demand for our goods at high prices has been to supply the nation largely with funds, making interest rates low and business correspondingly active. Strictly domestic business has enormously increased, and reports of business conditions made to the Federal Reserve Board from every part of the country show that substantially all lines arc now actively employed in producing a maximum output, and selling it at reasonable rates. Railroad earnings have improved, and the business situation is both sound and promising. There would seem to be no reason for doubting the continuance of the development of trade along its present lines for sonic time to tome. There appears to be every reason to look forward to successml business during the coming months, with prices and rising, and with bank capital abundant at reasonable rates. Very definite evidence of prosperous conditions is forthcoming from the Stat 0 of New York: — "Returns from 1300 leading manufacturersx employing 50U.C00 workers, show that in" 1915 employment in manufacturing industries increased from month to month, so that on November 9th 9 T.or cent, more people were employed nud 14 j>er cent, more wages were paid than in June. In November employment showed an increase of 14 per cent., a 6 compared with the corresponding month of 1914. Activity in the building irTdustry greatly exceeds that of a year • ago. In November the value of the _ work for which permits were issued in the ton first and second cities of the State was nearly two find n half times the valuo for November, 1914." WORKING NIGHT AND DAY. From New Jo'rscy it is reported that: — • * ''Industries encaged in the production of war materials have been extraordinarily* busy for sixteen months back. Many of the larger plants carry on operations without cessation except on Sundays by three shifts of workmen. Wage rates are in excess of the normal by from o to 20 per cent. The war and the immense export trade which has grown out of it have exercised a quickening influence on very many lines of productive industry not encaged on war material."' In the Middle West trade is generally reported brisk and employment as exceptionally good. The Governor of Illinois writes: — "Industrial business conditions are excellent. I hear of cases where they aro adding night- shifts to keep the factories continually in operation. Many new industries are being establish oil, some for the manufacture of dyes and others for the manufacture of gunpowder. Michigan reports that the war has brought about an era of prosperity in the iron and copper industries. and among those engaged in the manufacture of medicines and chemicals. If it had not been for the war the beet suirar industry would have been a thing of past-. In Kansas the war li:>s caused an increase o? several million dollars in the value of the exnorts of horses, mules, wheat, lead, zinc, and other commodities." .Among the Southern States, Georgia finds the position better than it has been for several years:— "Business conditions are good and growing hotter daily. Virtually every industry in the State is now running on full time, and many are operating -with night shifts. This is particularly true of the textile mills. Perhaps not in a decade have nrosnects been co bright for the textile interests. There is a big demand for all kinds of cotton goods, and even rabries not heretofore profitable are now selling at a prieo which leaves a good margin to the manufacturer. War orders hav» done mnf-h to stimulate this industry." Idaho and Mont"in. typical Western States. rer>ort condition": as the best on record. In Arizona the mining and live indnstne"? were never more •prosperous. and Arkansas announces a virtuallv complete recovery from the depression of a year ago.