Archivo rebelde es
01 01 05 06 1917 16
01 01 05 06 1917 16 black white

26 THE. CLASS STRUGGLE This change in the policy of armaments is faithfully expressed in the gradual changes in opinion of President Wilson. The New York Evening Port, in its April issue, very aptly summarizcs this change in the President. The stages of the President changes of opinion are per fectly clear. In December, 1914, he was absolutely opposed to turning America into an armed camp. In December, 1915, he yielded to the demands for preparedness. In January, 1916, he desired incomparably the greatest navy in the world. In April, 1917, he yields to the principle of conscription to which he has hitherto been opposed or at least withheld his consent. From the beginning of the war he argued eloquently against our going into it, and because of his having kept us out of it he is reelected to the Presidency. In April, 1917, he decides for war, and thereby, curiously enough, wins the acclaim of the very business interests that most bitterly fought his re election.
The chronology of the President changes is significant. It fits in remarkably with the three stages of America reaction to the war that have previously described. In President Wilson there is seen, accordingly, man who expresses accurately the needs and demands of the economic interests dominant in the country.
What are the economic facts that have produced this complete change in American opinion and preparations for war, and that lie at the roots of our developing Imperialism?
The credit balance of American foreign trade from the outbreak of the war to January 31, 1917, represents a huge total of 5, 574, 000, 000. The statistics, as given by the New York Times, are as follows: The foreign trade of the United States, imports and exports combined, since the outbreak of the war in Europe at the end of July, 1914, has amounted to the huge sum of 15, 622, 785, 853. Exports during this period were a little more than double the imports, and the balance of trade in favor of this country resulting from these thirty months of trade was 5, 501, 568, 835. This table shows how this vast trade has accumulated and the huge movement of gold which resulted from it: THE CLASS STRUGGLE 27 MERCHANDISE Credit Trade Balance (Excess Exports Imports of Exports. 613, 441, 020 241, 674, 651 371, 700, 169 Year, 1916. 5, 481, 423, 589 2, 301, 654, 335 3, 089, 769, 254 Year, 1915. 3, 554, 670, 847 1, 778, 596, 665 1, 776, 074, 152 Aug. to Dec. 31, 1914. 912, 641, 888 648, 632, 628 263, 959, 260 January, 1917.
Total since ontbreak. 10, 562, 171, 344 5, 000, 608, 509 501, 568, 335 GOLD Excess of Exports Imports Imports January, 1917. 20, 719, 808 58, 926, 258 38, 206, 360 Year, 1016. 155, 792, 927 685, 990, 234 630, 107, 307 Year, 1915. 31, 425, 918 451, 954, 590 420, 528, 672 Aug. to Doc. 31, 1914. 104, 972, 197 23, 252, 604 1, 719, 593 Total since outbreak. 312, 910, 040 1, 220, 123, 086 907, 212, 746 Our credit balance from merchandise trade was augmented by our net exports of silver. The balance in our favor was offset by gold imports, the purchase of foreign securities, the repurchase of our own securities and by other items. The two sides of the account in round numbers may be not thus in the shape at a balance sheet: BALANCE SHEET OF OUR FOREIGN TRADE Sent Out Taken In Excess of merchandise Net gold imports. 907, 000, 000 exports. 5, 501, 000. 000 Foreign securities Net exports of silver 73, 000, 000 bought. 2, 400, 000, 000 American securities repurchased. 2, 200, 000, 000 Other items 67, 000, 000 Total. 5, 574, 000, 000 Tomi. 5, 574, 000, 000 The other items include payments to foreign ship owners for freight on part of our imports, the net amount of interest and dividends on our stock: and bonds still held abroad and other less important items.
There is nothing in the annals of economic history to compare with this achievement. It marks an industrial and financial revolution in America. Excess of imports.