The Bennington evening banner. (Bennington, Vt.) 19??-1961, 1914-09-19
THE EVENING BANNER
Bennington, VT.
BENNINGTON, VT, SEPT. 10. 1914
AN ENeLlsHMAN's VIEWS
CONTINUED from Page p

ally checked the drain. On the other
| hand, the value of all securities
tumbled so rapidly, owing to people
| in a panic wanting cash, that IN.
| Stock Exchange had to be closed on
Thursday. 30th July Another rea-
son for closing the Stock Exchange
was that business generally is con-
| Quoted by advances by banks and
| loans on securities, with margin,
and OF course in time of panic the
margin would at once disappear, as
the value of all securities tumbles
| down. As it is the values at the last
day before the closing Of the Stock
Exchange stand and this has saved
the situation for the present, but it
will probably be some time before
the Stock Exchange can be opened
again. Ready money became difficult
to obtain and ut the same time every
one rushed to get in stock OF pro
visions as prices rushed up. This
created 4 difficult situation but was
promptly dealt with.
A Moratorium was proclaimed
making it impossible for anyone to
sue TO- debts incurred before the Attn.
August or foreclose for such debts,
but guaranteeing the creditors their
interest. This was proclaimed for a
month in England and may be extend
ed
This is not written for Commercial
people, so ] do not propose TO elabor-
ate the subject, but only TO say that
the steps taken have saved the situa
tion-The issue of paper money has
preserved the gold supply, and the
bank rate is down to five per cent.
again, which is a reasonable figure.
Thanks to the splendid readiness
are open and trade which has had
check will very soon develop.
The Government Scheme OF insur
ing war risk on oversee trade by all
British ships, and the British ships
themselves not only preserves the
British Flag, but keeps the insurance
rates down, and so keeps the cost OF
all articlessat a reasonable figure.
Unless, therefore, a disaster were TO
overtake the British Navy, which God
forbid, this country and its Allies
as well as neutral count les Except.
perhaps Denmark can rely upon a
good food supply, and generally a
supply OF all necessaries and such
Injuries as are now wanted. On the
other hand Germany and Austria can
only rely upon such outside supplies
as they can get through Holland, and
at present through Italy.
No one here knows anything about
what is going on In these countries.
and any news they send out cannot
be believed implicitly. 1t is part OF
the German methods to give informa
ton colored TO suit what the authori
ties desire or think will create an
effect
One thing is clear three weeks af
ter war has begun the prices OF food
and other commodities in England
/ are not increased more than ten OF
4 fifteen per cent at the outside, and
not likely to increase at present. OF
4 course some trades are at stand
still owing to want of raw material
and other trades which are almost
entirely carried on with the Cont
I nent, are practically shut down until
they can ind other markets, but in
the main the outlook is good be
cause the vast bulk of the oversee
t,ade of Germany is stopped, and MS
: far as England and its allies are con
cerned-including OF course. Canada
Australasia. India, Japan and part OF
China-it has ceased entirely. and
cannot again be on the same footing
by English Common Law trade
with the enemy is prohibited and
this is very strictly acted upon, more
ove' no letter or telegram can pass
between the countries at war
now turn to the effect of the war
ON the people OF this country. and
here can only say with the deepest
thankfuness. it is wonderful. As
soon as il was realized the enemy
was at the gate" all party strife
ceased. Radicals and Conservatives
worked toge;he. --Nationalists and
Ulstermen proclaimed a truce There
is no party and no party feeling; we
are one people combined against a
common foe. There will be no party
elections. The Home Rule Bill will
either be hung up or the whole mat.
te. compromised. and no party bill
will be brought up All work to
ge'her for the common veal. Parlt
ment is only sample OF the nation
The working men are nearly all
heart and soul in this. Germany's
brutal bullying OF Belgium and cal.
lous disrega ID OF plighted troth has
convinced all. and self preservation
as well as chivalry and honor com
bine TO convert all. II ever war was
righteous. we feel almost to a man
we are right in fighting. and we feel
too that though the foe is strong and
brutal and We may have reverses. yet
God will defend the right and in the
long un We shall conquer.
OF course. the Fleet was ready
our Navy is magnificent. 1t is only
a pity the little EnglandeTs managed
to cut down our battleships by two