Montgomery County sentinel. [volume] (Rockville, Md.) 1855-1974, 1898-04-01
:. EN IN Ell.
Friday Morning .....-....April /, 1893.
EFFECTS or WAR.

The Iron Age, one of the leading journals
the country, and paper generally con
.rvatve in tone and strong in the utterance
Its views, in lengthy article on the posi-
: 'iity of war with Spain emphasizes the
ct that sound currency system is essen
ally necessary TO borrow a large amount
money. Those who can supply il will
oe all the more ready to do 30 and the rate
of interest will be lower If there is perfect
assurance that the debt will not only be
paid promptly, but paid in money as good as
that which was borrowed. The Age says
"The more certain 1t is that the govern
ment will pay its debts, and pay them in
full and pay them with no quibbling about
what dollar is In law, but in what dollar
sin the world of commerce, the more money
1t can borrow and the less interest will! 1t
have to pay. lift proceeds to depreciate its
currency or allow apprehensions that 1t
will do so, 1t will find it proportionately
more difficult TO borrow, and it will suffer
on the other side by having to pay higher
prices for its supplies"
Nhr =
idea, very generally held, that war confers
benefits upon the masses Of the people. The
effect Of war is invariably to decrease the
comforts of life for the great majority of
people while it enriches few favored or
fortunate individuals.
Further commenting on the dreadful effects
war 1t says:
"Aside from the loss of life and limb the
greatest suffering caused by war is the en-
hancement of prices that generally follows
hat must follow if the currency be depre
dated. Out OF this advance in prices very
lew persons make fortunes. A vast number
iuffer extremely. With the rise of prices
here comes, of course, vast increase in
he disbursements of the government, which
means an increase In the public debt, and
: fter the war payment of the bonds at their
ace value. so thatin the long run the tax.
Layers have paid two prices for everything
he government used. besides practicing the
everest economy, because the rise Of prices
!. ad increased their expenditures, while their
lcomes had increased little or not at ALL
10 mistake To suppose that war neces
lrily increases business. 1t might create
great demand for iron and powder and
9th for uniforms and a few other things, but
would interrupt business, and the men in
le service of the government would spend
es than they would have spent in civil life,
I'd many prices would rule lower than in
lace. Nor is it true that war creates neces-
" for vast additional supply of currency.
be money is not destroyed by war, and if
money can be kept in sufficiently active
Fculation the supply of peace may be quite
lfficient for war. In 1851 the banks of
ew York, Boston and Philadelphia ad.
need $1,000 900 every six days to the gov.
nment, which disbursed it all over the
untry, and in week the money was
ok In the deposits of the banks of the
rec cities again
These are very sound reflections aud are
perfume at this time War Is a terrible |
d very expensive thing, and the Teluc-
bee TO engage In it increases e.s;aong nations
they advance In ID csEEsiization.
Yet as long as the world lasts there will
,se occasions which will make war neces-