Business After the War

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Excerpt from Business After the War: An Address Before the Michigan Bankers' Association, Flint, Michigan, June 13, 1916But here again the difficulties of the present situa tion appear. We are buying back our own securities from Great Britain and Europe on an enormous scale, and must continue to do so. We are granting credits to other countries to assist their purchases here. Furthermore, we have no spare capacity at the present time for the equipment of new enterprises, and, finally, war prices are prohibitive upon new enterprises.When the war is over, we will be stronger in some respects, and weaker in others, than before. We will be richer, owe less abroad, have greater productive capacity, and have an introduction in foreign trade. All that would strengthen our position in world affairs if other things remained the same. But conditions have not remained the same, and here we have another strik ing illustration of the law of compensation.About the PublisherForgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.comThis book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully, any imperfections that remain are intentionally left to preserve the state of such historical works.