Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1914-08-01
PLANS TO AVOID
EFFECTS OF WAR
Wilson and His Advisers in
Moves to Curb Flow of Gold
and Care for Sea Trade.

Chicago, Ill, Aug. 1.-The Herald
prints the following from it's Washing
ton correspondent, John Callan
OLaughlin: The government of the
United States, without reference to
the political views of the men who
form it. is making herculean efforts
to place the country in a position to
feel no i'll effects from the impending
general war in Europe.
At the same time President Wilson
has declared his entire willingness
to render any service which will main
tain peace. This attitude is warmly
approved by senators and congress
men.
II is impossible to disguise the seri-
cusness of the situation in the view of
the officials.
From Berlin today came an official
dispatch announcing the failure of the
peace negotiations as between Ger
many and Russia and the mobilization
of the German forces. The sisnifi-
cant opinion was added:
War is inevitable
Under such grave circumstances the
president. after consultation with
some of his advisers and the demo-
cratic leaders of the senate and house,
determined:
/ To amend the Aldrich-Vreeland
currency law in such fashion as to
make more generally available the
$500 600. 900 of emergency currency
now in the treasury vaults.
.. To urge action by the senate
upon the nomination OF Paul NJ. War
burg Of New York and to nominate
without delay a successor to Thomas
D. Jones. in order that the federal re-
serve board might be organized and
the new federal reserve system estab-
lished at once.
To amend the laws relating to
the merchant marine so as TO induce
foreign ships to sail under the Ameri-
can flag. and thus prevent any inter
ference with the overseas trade of the
country.
To invite the cooperation of
bankers and business men in order TO
promote stability and avoid restriction
Of credits.
>. To approve the stock exchange
holiday and TO use his influence TO
keep the exchanges closed until for
eign exchanges resume business.
6. To preserve strict neutrality as
between the contending powers in or
der that the United States might not I
in any way become involved in the 4
conflict.
7. Finally, to maintain an attitude
u "watchful waiting" in order to take
advantage of any opportunity that
might arise which would enable the
United States to use its influence IN
The. interest of peace.
At the urgent request of Secretary
n the Treasury McAdoo and in compl-
,nce with the appeals of bankers the
senate yesterday passed as a precau-
ionary measure against a financial
disturbance i'm the United States an
amendment to the Aldrich-Vreeland
emergency currency act. The amend
nent permits banks TO avail them
selves of the benefits of the act. even
hough they do not have outstanding
notes based on govern
uent bonds TO the amount OF 40 per
.ent OF their capital
The amendment was prepared AT 'he
reasury department. submitted 10
senator owen, chairman of the senate
committees on banking and currency
,romutly considered by the committee
md after ten minutes discussion
.assed unanimously by the senate.
The measure drew TO the senate an at
enhance unrivaled since the heated
ummer term began. There were 20