The Fargo forum and daily republican. [volume] (Fargo, N.D.) 1894-1957, 1914-08-06

of Adler-i-ka. The Central Drug Store
--Advt.
every reason, based on the position of
the United States, economically and
otherwise, and every inducement OF
self interest, for r%efraining from an
alarm which can only help to aggra-
waite the immediate strain. Men who
have in their hands the direction of
the %country's affairs Of finance, bust
ness and government will most as
suredly do all in their power to miti-
gate the severity Of any shock COM
municated here from the European
contest.
Their efforts can be wonderfully as
sisted by a widespread recognition or
the virtue of sitting tight at a dis
turbed j%uncture. A good deal of trou-
BILE never happens if it is not precip-
itated by the unreasoning conduct Of
people who surrender promptly to the
impulses of excitement. For the pres
ervation of composure at this particu-
lar time various inducements are Of
fered by the circumstances of foreign
and domestic affairs in the last two
years and by a legitimate regard for
the outcome of Europe's resort to
arms which may benefit the United
States.
III E1L w. oiJ SAtAAAo
resembling a general European war
would seem likely to guarantee that
the economic future will belong to he
American continents, especially to
North America. The paralysis of Eu-
ropean finance and m during
any such upheaval and their subse-
quent prostration will leave the way
clear for all nations whose energies
have not beer debilitated and whose
~oeo,,noog ho 1n MT hoan ovhoJJcfn1 nv
the waste of war. It was in the civil
war hat American shipping suprem-
acy was lost. AS a result of a Euro
pean war 1t m "a be regained with
contributing influences to it's recovery
provided by the facilities for CONNER
cial expansion which the Panama ca
nal and the approaching modernization
of the American banking system will
supply.
In more ways than one the folly of
warfare which Europe has long been
threatening to commit and at last
seems determined to penetrate must
spell opportunity for the United
States. Among other things it is like
ly to provide a splendid opportunity
to eXtricate the country from a debt
or condition represented by the large
European holdings of American secur-
tiles. The Jul believes that adVan-
tage will be readily taken by Ameri-
| can investors to absorb on their own
| terms the further sales of stocks and
bonds which Europe may seek to make
| here at the dictates of fear or neces-
sity. If the absorption can be aug
mented by the purchase of European
state funds or other foreign obliga-
lions which will place the old world
in debt to the United States, so much
the better.
Meanwhile there are other encour-
| aging considerations which deserve to
be noted. There could hardly be a less
~unfavorable time for Europe to try
the desperate solution of a general
war for the problems that have for
decades made it an armed camp. In
the solution other problems which
have vexed these lines will obtain
| their answer, but quite aside from this
| phase of the crisis it is to be observ-
ed that war will not find Europe nor
the rest of the world u~nprepared.
The blow cannot fall with so much
crushing force on an economic situa-
| ton which sums up almost two years
of financial liquidation n aCcelerat-
ing trade n industrial contraction
and depression. Moreover, 1t Is now
seen that much Of the worlds decline
in business and values in recent years
was, ~instinctively or otherwise, by
way of making ready against precise
ly such a dreadful emergency as has
arisen abroad. To some degree, in
nave already been borne in those
troubled years when money was being
forced out of the channels Of peaceful
| activity to augment European central
reserves that would be required to
stand the strain of war.
Outside the area of hostilities, the
people of the United States are addi-
tionally fortunate in that American
values and enterprise are not in a vul-
nerable state of expansion If the storm
Of war is to break owe Europe. In
herently sounder and stronger from
an economic point Of view than those
Of any other country, values in the
United States nave been placed or a
sound basis by the tests of worldwide
disturbance and the Universities of do
mestic policies which have searched
out weak spots in the financial and
business structure and compelled a re-
duction of inflated commitments in all
the avenues of economic e~ndeavor.
Before these somber war clouds
darkened the European sky there had
been indications in the tokens of re-
action from the excuses of radical
politics that on the basis of values
which had been established the United
States was almost. ready to go ahead
to achieve the restoration of prosper
ity. How much this prospect may be
interfered with by European develop
ments cannot be conjectured at the
moment.
We know these things, however.
The agricultural promise Of the year
Is excellent. The foreign market. for
our crops will be vastly enlarged be-
cause of the European war. American
merchants and manufacturers should
have command Of a tremendous ex-
port market for goods and commodi-
ties ~customarily provided by Europe,
and If we are not mistaken American
bankers will be able to furnish the
credits that must go along with them.
The country as a whole has an i'm
mense amount of capital awaiting en-
ployment. (
After all, the worst may not happen
abroad, but If it does, we are conf =
dent that the American people can
cope with it's difficulties courageously.
A Prehistoric People.
National Magazine: The American
cave jewellers were no ape-men, not
even big -jawed, ~loWbrowed mar eat