| Show NATIONAL CITY BANK COMMENTS ON WAR the following are excerpts from comments on the war situation by the national city bank of new york city no catastrophe comparable to the war of 0 1914 18 had been known in the history of mankind no such destruction of life or wealth was done theretofore the war of 0 1914 18 violently disrupted the organize tion of business its costs have never been computed and cannot be for they include not only the taxes paid and debts unpaid but the ines value of millions of lives most people will form their opinion of the present war by what they know of the last one and when they do they should take into account the depression as well as the boom the last war started a rise of prices that continued well into 1920 the rise was not a benefit but the contrary scattered individuals gained farm ere era sold wheat for 3 50 a bushel but prices of living rose and what manufacturers gained they later lost the rise of wages brought only the illusion of prosperity tor for most of time it trailed the higher costs ot of living the problems of agriculture to this day trace back to the war prices in the drop afterward wages drop ped last and disorder has persisted it has ruined tens of thousands thousand s of businessmen including farmers and thrown millions of wage earners out of employment the bottom of the depres was 14 years after the end of the war and has been unbroken history may seem to be repeating itself in the sensational advance of commod ity prices they carefully avoid the words speculative or racketeers which readers may apply the rise is obviously due to anticipations to memory of 1914 18 rather than to actual war demands and hence unjustifiable added by us the fact that nearly all countries are subsidizing agriculture because prices are too low is evidence of the plentiful supply wheat in chicago has risen sugar had a violent advance hogs rose 2 50 but since lost halt half of it it la Is agreed that if war lasts and fighting is active the belligerents will need more of many commode ties than in the last war all the countries have had experience with war time inflation and all dread it it is appalling that the national debts to be incur redd tor for this war will be piled upon unpaid debts car ried over from the last one to which have been added the debts of depres slon sion this war has been expected and prepared for in all countries german business has long been on a war basis to a great extent and the democracies have moved tn in that dl di to a that would have been deemed fantastic not many years ago pu business siness is moving into the tall fall in an upward trend |
