New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-02-07
BIG ARMIES A BURDEN
W. Morgan Shuster Tells How
Money Power Can End War.
JUSTICE is REyES'S PLEA
Former Head of Colombia q
Guest at Banking Institutes
Annual Dinner.

w. Morgan Shuster. former Treasure,
General Of Persia. discussed money as
force opposed to war at the twelfth an.
nual dinner Of the New York chap;er q,
the American Institute of Banking. n.
told Of some Of the secret workings ~
European diplomacy, and General Rafael
Reyes. former President Of the United
States of Colombia. made an appeal for
justice to his country in the question "
the Panama claims.
The dinner was held I'm the grand bail.
room Of the Hotel Aston ana was a..
tended by some 80 of the younger men f..
the city i'm the banking profession. Tia
POSTMASTER was Il. G. McWiliam, pres.
dent of the chapter. Justice Frederick
T.. Crane. Of the Supreme Court Of Brook
Ign. and the Rev. Robert VI. Moore, Of 81.
Johns Methodist Episcopal Church. IN
Brooklyn, were among the speakers. Mr.
Shuster, who il now with the National
City Bank. said that there was food for
reflection i'm the fact that money had re.
Gently made it impossible for two nations
TO 20 10 war. He added
War is an economic crime in this prac-
, teal age. In the more practical ages Of
the future the time is bound 10 come
when there can be no war. a war lord
or war party will come 10 he regarded
as a reasonable calamity.
1--WE must realize a balance OF terri.
tory in this world some time, and mus.
guarantee to the smaller countries the
preservation Of their boundaries. IN
Europe the two great groups OF powers
are balancing at the present time. There,
are five million armed men in the world
and half a million in the navies who arsi
a burden on the workers Of the world.
who produce nothing and consume much.
II we are really civilized. II we are max
ing progress in the humanities, that must
come 10 an end.
Il myself have no illusions about the
speedy dissolution of those forces. The
war debts Of the world never can be pail
and never will be paid A great war would
simply come to an end for lack Of money.
As bankers. we do not want TO finance
wars. We want 10 finance something
that is producing, not destroying.
Il personally knew OF a case. when IN
Persia, of that country making an appeal
10 the Hague Tribunal for arbitration
and of that appeal being refused. per-
sonally have little confidence In arbltrd-
ton. II we are Cor the worlds peace
we must show II by our acts. don.
know Of anything we could do that would
be better than to grant an appeal FOR
arbitration coming from South America.
General Reyes. after addressing tie
diners briefly. gave the body OF his speech
TO his son to read. The passage Of chief
interest was the following
with the construction OF the Panama
canal a magnificent field of action is
opened. and the banks Of the United
states should study the question of al-
liances with those already existing IN
Latin America. taking thereby acyan-
tapeous positions. Now, in carrying our
this idea il is necessary u win the
esteem and confidence of those generous
and hospitable peoples and TO see 90 u
that no threats or insinuatious of brutal
imperial!sm are allowed To he circulated.
Also tho freedom OF Latin-Amcrican
ideals should be respected. and even en-
couraged, by the peoples Of the North \
beginning also should be made by seeing
that justice is done To the Republic OF
Columbia in the matter Of its righteous
claims regarding the Panama AFFAIR con-
corning which public opinion Of your
great country has spoken clearly and IN
disputably in favor OF thorough inves-
tigation. with the added opinion that X
a wrong has been done II should be right
Cd. | cannot but feel that you repre-
senta,ives Of American capital must be
with me- in my cry for justice TO Co
Iou,bia