The herald and news. [volume] (Newberry S.C.) 1903-1937, 1914-08-04

ance; today they belieye it is prob
ability, rather than a possibility.
There is no mistaE ing the fact tat,
with the exception o. a minority OF
peace advocates, whose voice is hardly
heard and seems to carry little weight,
the nations mind is rec -nciled to war.
L ere have been no "demonstra-
TONS" no flag waving, no music hall
patriotism, bus there is apparent
among all classes a sober and grim de-
termination. if the government de-
clares the nations interests and obli-
cations require her to take up arms
side by side with Russia and France,
to see the business through to the
bitter end.
The change that has swept the en-
tire country within week is mar
velous. A week ago the people were
wrapped up in prize fights, the Good
wood races, tie Cowes regatta, vaca-
tions on the continent; tonight they
are asking only Can the British
fleet play, its part in protecting tie
island from isolation which means.
in the first instance, can it destroy the
German navy?'
Fear for Food.
They are concerned also as to
whether the food supplies can be
maintained and to what extent private
fortunes will be impaired by the
financial upheavel Of The war.
The military situation stands w2ere
it did last night. The mobilization Of
the naval forces has been completed
and the army is en- a war footing ex-
cept Cor the calling out Of tle terrific
rials.
The request of the war office that
the English newspapers re.rain from
army and navy movements
has met with a patriotic response.
The London evening papers publish
news concerning almost all the armies
of Europe, except that cf Great Brit
ain.
T.ere is popular belief that the
British fleet is in the neighbour cd
Q; FLUSHING in the North sea, but only
the members of the government know
the ruth.
DIVER and SheerEess are virtually
en- war basis. TEnse and other har-
bors have been minei The war ccun-
Gil cf the British cabinet is composed
of Premier AsqMth, Sir Edward Grey,
secretary of state for foreign affairs;
Viscount Haldane, lord high chancel-
lor, and Winston Spencer Churchill,
first lord of the admiralty.
Sir Edward Carson, the Ulster I'm
ionist leader, announced today that
a majority Of the Ulster Volunteers
were ready for home service and tnat
many would accept any service in
which they could be useful.
Wdile the London stool, exchange
is closed for the first time in its his
tory by tie threat Of war and all the
exchanges in England and Scotland
Immediately shut their doors on learn
ing of London's action, there mas been
no panic, nor have there been any
important failures.
The great feeling among finaD~
ciers is that London has weathered
a remarkable storm with great credit.
The bank rate was doubled from 4
to s per cent, but during the Cri-
mean war it touched 10 and stayed
there six weeks Shot loans today
commanded 10 and 10 1-2 per cent.
There were no runs on the banks
but commercial banks refused de-
mands to pay checks with gold and
paid partly in geld and partly in Bank
OF England notes.
Long lines of people had assembled
at the Bank of England when it open
ed to get gold for notes and many
were turned away at closing time. 1t
was expected tnat the banking act
would be suspended, thus relieving