The Bridgeport evening farmer., 1914-08-08
WAR WILL.
 TEAR DOWN
 MONARCHIES
So Says Henry Clews, Noted Banker. Discussing Con
 flict in Europe.
fBY Henry Clews. the Noted
 Banker.

DdlAhCE.
 New York, Aug. The crisis fof the age is on, and the worst lis probably appreciated. The result must now be left to the barbItrament of arms. Great Britain entry into the war will undoubtedly hasten tie lend the sheer intensity of the conflict necessarily limiting it's tduration For the time being EEttlae world s commerce is de- lnaoralized. On the Continent 1ef Europe the losses will be. lcolossal. Hundreds of thou Isands of precious lives will be Esacrifieed, and billions of cap sital and property destroyed.
 In the course of time the Epresent confusion will partly IEdisappear The financial strain lon this side has been material Iiy relieved by the issue of $500, lEe00 GOO of emergency currency under the currency act, and Jaws have been passed making iB possible if necessary to put into circulation over $i, ,70G,- l0O0, GOO of such currency. By common understanding our Ebankers have also agreed to prevent any further important s exports of gold The closing lof all of the Exchanges has Fortunately prevented an ag- tgravation Of the crisis by stop ping i11-advised speculation; and before long there is little doubt but that the financial Esituation here will have been fso strengt hened as to allow the re-opening of Exchanges throughout the country
 At the moment the most ser- l6ous effect of the war upon our- seIves, outside of financial cir Ecles, is the utter demoraliza- #ion Of foreign commerce and hts handmaid, foreign exchange.
 Our cotton, OUT grain and our 1of1, which constitute g. large Epertion of our exports are prac- ftfcallY blocked Yet somehow Eor other Europe must have hfhese products, or suffer still t1nore seriously. We need the fproceeds of their sale, or many 40f our merchants will doubtless fbe for the time being more or Hess inconvenienced or crip- bpled.
 Some relief may be obtain Fed by placing our coasting ves- 1sels in the trans -atlantif trade,
 Tor by raising the American REf1ag upon many American ships
 now operating under foreign kf1ags.
 It may be some time before .our foreign trade, aggregating
 about $4 ,000, ,0oO, GOO a year, Twill resume its accustomed
 sway. Meantime dur farmers
 land our railroads must be pre- fpared for a delayed export 4trade. The products held back
 now however will be in great 1 demand later on at unquestion-
 ably high prices. One sorry ] result of the war will be the Isworld-wide advance in food
 products, which we in com Emon with other nations must
 expects European sugar and
 grain crops will certainly suf- ! fer severely. British cotton land woolen manufacturers will E incur heavy losses. Even if
 tfley ultimately secure their I supplies of raw materials, as ftheY probably will, their ex-
 port trade will be seriously
 disturbed This will greatly
 stimulate American eports of cotton goods, and at the same EEssttinae check our imports of
 woolens. The inevitable redue- .tion of imports at large
 through impaired buying pow
 CT on both sides of the water.
 lis sure to diminish our nation HA SN-- }n