Harper's Pictorial Library of the World War, Volume XII : $b The Great Results of the War
History
Harper's Pictorial Library of the World War, Volume XII : $b The Great Results of the War
League of Nations; Treaty of Versailles (1919 June 28); World War, 1914-1918; World War, 1914-1918 -- Economic aspects; World War, 1914-1918 -- Finance
"The index of the Swedish official list of laws, dated October
31, 1916, forbidding exports, mentioned more than 1,100
articles, and even that was expressly called only a help to
find the commodity looked for and did not pretend to be a
complete index. The result was, of course, that trade, compared
to former volumes, decreased very considerably, and the energy
as well as the wealth actually earned was turned towards
speculation on the local exchange.
"To supply all the people of Scandinavia with the necessities
of life was a problem. Law upon law, one governmental decree
after the other, tried to regulate the distribution of
commodities as well as their prices. The majority of the people
were in actual need. Prices soared, and it really did not
matter to the ordinary man whether the cause of this rise in
the cost of living was a too big circulation of paper currency
or a limited supply of goods. What confronted him was the fact
itself, not theories, and he realized all too well that he
could not make 'both ends meet.' There was, generally speaking,
no doubt that under normal circumstances the laws of supply and
demand will work satisfactorily to the community and that
artificial interference was only harmful. The supply being
short, consequently the demand and the consumption must be
controlled to secure a fair distribution. Sugar cards, which
had been used in Sweden for months, and which were decreed in
Denmark to go into force January 1, 1917, were an example of
the means employed to control the distribution and to prevent
waste to supplies.
"While on the one hand one saw new millionaires permit
themselves to indulge in the most senseless luxuries, which
incidentally added considerably to the high cost of living
under circumstances like these, the less well-to-do actually
were without many things formerly considered necessities.
Collections of money and foodstuffs were made all over
Scandinavia to help the less fortunate through the winter. The
poorer population of the cities was especially considered. It
was even difficult to get a roof over one's head. Proposals and
counter proposals to remedy the evil were forthcoming, but no
real remedy seemed to be in sight."
FEEDING EUROPE'S STARVING MILLIONS
A preliminary accounting was rendered on December 1, 1919, by Herbert C.
Hoover, covering the $100,000,000 fund appropriated by Congress for the
relief of starving Europeans. From Mr. Hoover's report it appears that
in payment for relief supplied to eight European countries Mr. Hoover
decided to accept their notes bearing 5% interest. Mr. Hoover's report
stated:
Public-domain text, read in full here on John Shaqi.
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