Show ECONOMIC highlights industrial news review if this is a long war and few are so optimistic as ta think it will be short despite the ever recurrent rumors of the blitzkriegs Blitz kriegs from both sid esit is obvious that the world of tomorrow will be a vastly different place than the world of today and the neutral nations no less than the belligerents will feel the immense changes and will pro bably be forced to adapt afim themselves to conditions utterly different than those of the past working on the assumption th thit that it the united states will be able to remain neutral we as the worlds world s principal financial power will naturally feel fe elmost most directly dir estly the economic and social fruits of a long and destructive war we are a great exporting power making a large part of the worlds machinery and finished goods and furnishing much of the world with vital raw materials in addition it seems certain ce ertain say the economists that our export business will suffer nodus losses when the war ends thin are two reasons for that one tangible the other intangible the tangible reason england and france which are our best customers are spending their money at an un precedent ed rate and while the vaults of the banks of england and france are deep they are not bottomless when the money is gone the democracies oc will nut longer be able to buy unless we e extend immense credits they will have little to offer i in return for what they may need I 1 perhaps they will be forced to descend to a barter system such as has been long pursued by germany in which case it is difficult to see how we could trade with them to any ally great extent I 1 the intangible reason when the long war ends all europe will be hungry desperate bitter ma laaby by authorities believe A mad scramble for mere istance existence ex may be the harsh result european standard of living will be on a rock bottom basis and there will be no demand for even the simplest luxuries the average european will be fortunate the pessimists think if he is able to get sufficient food clothing and shelter to keep alive in this connection an article in the american mercury by henry alberts phillips is harshly enlightening mr phillips an author of reputation has recently returned irom a tour of europe and he feels that the continent faces famine agricultural labor has been taken from the farms and put to military uses leaving only the old and the weak to till the fields trenches have been dug where normally would bloom vital wheat the great feed boxes ot middle europe arc ac producing ass and less says say mr phillips phillips in the past fighting nations relied on their noncombatant non combatant neighbors for nourishment what impressed me most deeply as 1 went through europe therefore was that this time the neutrals are not only unable to sustain those engaged in killing but uncertain of sustaining themselves neutrals ars in the same mad doghouse as non neutrals bully ragged and threatened by war on every side forced to abandon normal life iffe and making ruinous outlays for armaments mr phillips seems to think that the almost certain upshot will be a gigantic revolution in europe ard and there are many who agree witti with liim him no orderly government as we know it now they argue can come from armageddon but even if re is not the result it is almost impossible to escape the conclusion that unprecedented depression sion will engulf the old world that explains why more and more economists and business men are coming to the view that whether we wish to or not we must forget europe economically speaking an and turn to our own part of the world tor for the future trade and commerce that we must have to keep going war orders are keeping ane airplane and factories lac tories buz ing now and are immensely benefiting certain peacetime peace time industries as well but when those orders stop sop the outlook will certainly not dr bright mr roosevelt is far and away the most popular of all possible presidential candidates but there is a definite majority opposed to a third term that is the rattier confusing picture presented by the last fortune poll over 35 per cent of Dem democrats ocram picked the president while runner up garner got 56 per cent on the republican side dewey led with per cent as against 58 per cent for taft in second place fifty four per cent of those queried voted democratic less than 12 per cent said that Roosevel ts reelection election re was vital while almost 21 per cent thought it was the worst thing that could happen to the country on the 3rd ard term question says fortune the majority against it is about 8 per cent in the meantime the political goes on there is r report that the president may back a hull jackson ticket though this theory has its doubters inasmuch as mr hull has never hein hei n considered a new dealer in domestic matters his congressional recoil was conservative in the old time southern democrat tradition on the republican side the opeti opinion grows that a dark horse may be picked certainly no candidate is hutst outstanding a riding with the voters and the party leaders as well |