The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1911-05-05
Withhold Funds and Ma
tons Will Not Risk
Bankruptcy.
BANKER OFFERS
IS UGG E S T 10 N.
Assistant Secretary of State Tells
What Is Being Accomplished
by Dollar Diplomacy"
Boatwright Urges Sys-
tematic Peace Work
Among Colleges.

Baltimore. Md, May ,4.-"Financial
/, neutrality" as preventive of war be-
! tween nations was the Interesting sug-
/ sestion offered at the third National
! Peace Congress here to-day by James
Speyer OF the New York and European
banking house of Speyer & Company
! Mr.. Speyer spoke as a delegate from
/! the Chamber OF Commerce of the State
/ OF New York. He followed Assistant
4 secretary OF State Huntington Wilson.
/ presiding officer of the forenoon ses
! sion who gave his Interpretation of
| what has been called dollar dip
/. iomacy,' the newly coined phrase APP
| Piled to the expansion OF business in
| terests through the erorts of the
state DEPARTMENT OF the United states.
me term, according to Mr.. Wilson,.
| means the substitution of dollars for
! bullets; the creation of a prosperity
| which will be preferred to prcda tory
strife, and "a practical mode of pur-
suing the Ideal of worlds peace"
Finance MS Pence Power.
Mr.. Speyer. who spoke on "intcrna-
lonal Finance as a Power for Peace"
| dealt first with the influence OF In
| ternational investments in times of
| peace. Taking UP the question of what
! should and could be done in time OF
war by first-class powers, he said we
find to-day In Europe that In times of
peace certain governments will not al
low their bankers to take and place
foreign loans In the home market un-
| less the purposes for which the loan
is TO be used are known and approved,
and at least part of the proceeds arc
| used by the borrowing nation for ex-
| penditures in such home markets for
the benefit of the lending nation.
| NOW said Mr.. Speyer, IF such
| supervision and control of tho bankers
| already exists In time of peace. 1t does
not seem wide flight of ina gination
TO suggest that the great powers might
| agree to exercise such control IN times
of war between third parties and 10
| maintain. in future. what. for want OF
! a better term. might be called "fnan-
/ cial neutrality In case two nations
| went to war without first submitting
their grievances and differences to
arbitration or judicial settlement Mt
| The Hague. Why should the other
neutral powers not bind themselves not
| to assist either of tho beliigerents
] financially. but to see to 1t that real
neutrality was observed by their banks
and bankers? There is little doubt
| that this could he done IL no financial
! assistance could be obtained from the
! outside. few nations would. in the face
| of this most effective neutrality of the
| other powers. incur the peril of bank
ruptcy. Some would certainly last a
! much shorter time" ft'
Replies to Criticism.
\ criticism OF this government for
not having prevented tile activities of
American sympathizers with tho MeNi-
| can instructions along the border,
| made by Congressman James t. Stay
den in the course of an address. drew
| n reply from Assistant Secretary of
| State Wilson, who said that in all revo-
| lutions In the Latin-Amer can States
| Americans had been active in spite of
| the efforts ofithe Federal government
to prevent such activities. and that the
record of the United States in proceed
! ing against previous filibusterings
| havo convinced the people of Mexico Of
the honesty OF this country's attitude
! toward it.
| Systematic work among schools and
colleges was urged upon the enemies
OF war BY F. W. Boatwright president
OF Richmond College. in his address
| before the peace congress lie said:
| Among the vital institutions of our
| age the college holds high rank. While
| character is formed continuously
(; throughout childhood and adolescence.
| It crystallizes most rapidly during tho
! college period. Special interests con-
| sumo the time and energy OF the grad
!
| # a standard college ranges widely
f, Tor mental food lie opens his heart
| 20 many causes, and more or less con-
sciously reflects upon The great motives
aud appeals of life He is an ldcalist
! ready to believe in the good and to
| spouse noble causes. Hard contact
! With the world has not yet chilled hts
| Saith or his ardor. He believes In men
/; and in his own powers.
To such youth the glamor OF war has
! Always strongly appealed. The first
! call to arms has changed the American
college campus into drill ground and
| The college into an armed camp. This
I was pre- -eminently true in the Civil
| War and was repea ted even in our
/ brief war with Spain. Nations as un-
! like as Germany and Japan hav0 Of.
! fcred similar examples. AS In other
Z rocat lions, so in the business of war
! the colleges have furnished leaders.
/ Yet nj the same time, the college, as an
/ institution. hates war and loves peace.
Whatever may seem to have been true
In earlier times, war to-day retards In
! tellectual life. and the college devoutly
descrcs It's abolition. War is the ALL
/ devouring dragon that not only con-
sumcs the bread of the nation. but
also absorbs tho energy which should
nourlsh gentle arts and bencflccnt sci
| ences. Inter arma silent lcges. silent
| literac humanores.
When. therefore. men come together
10 consider how nations may adjust
their differences without resort 10 war,
1t is becoming TO Inquire what may be
done to direct the thought of.collega
men and women Into new and noblor
channels and how we may marshal the
colleges under the banners of inter
national peace. ] am not lnmindful Of
what has already been undertaken In
this field or of tho fact that the first
president OF the university whose hos
pitality wc enjoy to-day proposed ut
tho Mohonk Conference of l905 thnt