New Britain herald., 1914-08-01
DOWN WITH ONE MAN
 POWER, SAYS CLEWS
Present European War is Outcome!
 Of Russc-Ja1an StTuggc
Especial to the Herald.)

New York, August IA gen. eral European war is inconceivable. It would precipitate a cataclysm such as the world has never seen. No living statesman or ruler would dare
 to voluntarily risk consequences which would be crushing to the worlds industries and finances. Yet the danger is intense, and an overt act might start a conf1agration which would make over the map of Europe and inf1ict incalculable loss of life and property. All the great powers are ready for armed conflict. By means of military demonstrations each is prepared to take the first ad- vantage, if necessary; and yet. strange to say, there is no immediate vital cause for war. Austria is simply runishing small state for the mur- der of Archduke Francis Ferdinand; ; while all the other great powers are acting upon fear and a deep distrust of each others ultimate purposes. If war can be strictly localized, and if Russia can be persuaded not to ac- lively intervene in behalf of Servia, which probably depends upon Austria refraining from taking any Servian territory, then a great confagration will be escaped, and diplomacy will doubtless be successful in settling all the minor issues.
 Effect Upon United States.
 The effect of war upon the United States will be highly injurious. Food products would rise, and the taking of hundreds of thousands of men out of employment in Europe would mean prolonged demand upon our food supplies. The scarcity of labor abroad would also be reflected here, resulting in higher wages in some in dustries and general further rise in the cost of living. Probably some in- dustries would benefit by the demand for war material, and there would be a better demand for our manufactures of steel, textiles, etc, to meet the vacancy caused by the loss of foreign trade which Ger many and other European nations would inevitably incur. It is folly to suppose that such wholesale de- struction of life and property could be of benefit to the world at large. The worlds money markets would be violently deranged, and our own would ultimately feel the strain. Higher interest rates would surely fol- low the wholesale destruction of cap ital, and much of the refinancing of the future which has got to be met would face serious obstacles. Our foreign trade will be demoralized. The heavy foreign sales of securities in this market were the main cause of a large influx of gold, amounting to the week to about $40,0O0,000 on the current movement. It is we'll known however, that the treasury will offer similar aid to last year for crop mov- ing purposes; this, of course, being a very reassuring feature. The crop has already begun, and recent events are likely to hasten the export movement of grain. Wheat has advanced fully 10 cents and over, which means phenomenal prosperity to the western farmers, especially wheat growers. Our wheat crop is now estimated at over 900, 100000 bushels, and as the bulk of it is still in farmers hands it follows that they and not intermediates will get the advantage from high prices. COn m oditieS generally are rising OW-