Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1914-08-03

dent that he withdraw American sol
diers from Vera Cruz and order the
fleet home out of Mexican waters. II
will be represented that II is of the
highest Importance that the men-of-war
be brought north.
The purpose OF this government Is
not to facilitate the shipment of gold
to Europe for commercial settlements.
or course, this does not apply to finan-
cially unimportant shipments of cash
for the relief of Americans abroad.
The treasury believes the flow of gold
is practically ended and, curiously
enough. by the same cause that set
IL in motion.
The fear of war forced unprecedent-
ed European sales calling for pay
ment in gold. The imminence of gen.
eral war makes IL practically impos-
sible to ship that gold, and the metal
will remain for the present in the
United States and lend material assist
ance to American bankers in tiding
over n nervous interval.
Gold Available at Home.
The government is not encouraging
due to foreign banks. But ii is de-
clared that the government is under
no obligation to divert battleships for
the carriage OF the metal. II any other
justification were needed IL would lie
in the fact that shipments of gold In
to the ports of a belligerent power
under protection of American guns
would be regarded as a violation OF
neutrality in favor of that country.
The detention OF gold in the United
States. IL is confidently believed, will
be OF a great assistance 10 American
bankers. This bullion will not in any
sense be tied up by the fact that IL
the paths of commerce were open ii
would be sent to Europe. 1t will con-
tinue available for American needs.
It will materially reinforce such
currency as is now in circulation and
such issues OF emergency currency ~
may be made under the Aldrich-Vree-
land act.
Mr.. Warburg spoke reassuringly of
the whole situation. He believes the
Aldrich-Vreeland act as 1t will be
amended Monday will be a great aid
to American bankers. Taking a more
fects the United States. Mr.. Warburg
said he thought there was no reason
why Americans should become unduly
alarmed.
THE country" he said, 'is in a
splendid condition TO meet what
strains may be put upon it. The treas
ury was never better prepared TO as
sist the business OF the country"
May Tax Income More.
With the decline of imports, which
is certain 10 take place. the customs
revenues OF the government will fall
off and the treasury department will
not be able to take care of expenses.
Therefore, the president and demo
cratic leaders have been giving coDsid-
Grafton to the means to be adopted TO
raise additional revenue.
A proposal has been made for an in
crease in the tax on incomes OF indi-
viduaIs and corporations, and also for
the imposition of tax on checks and
documents as was levied during the
war with Spain.
Before taking definite action. the ad-
Will wait a short time for
developments abroad.
The president learned thai there
will be some obstacles 70 the passage
Of the bill admitting foreign shipping
10 AmericaP-fegistry. The American
Federation of Labor is understood TO
De hostile to the measure and some of
b politicians in congress intend to
light It. The president believes the
OF restrictions with re-
erence to the admission OF shipping
o our flag is OF the highest import
nee for the commerce of the coun-
~. He will demand prompt action,
nd II is believed the bill will Ass.