White Pine news weekly mining review. [volume] (East Ely, Nev.) 1910-1920, 1914-08-16


Various opinions have been ex-
pressed as to the effect OF the Euro
pean war on the United States. The
following ome from a disinterest-
ed source. The London statist.
published July 50:
Banking
a great Var IN Europe MI prob
ably bring economic advantages to
the United States. 1t vii enable Il
to sell its great crops in places which
VIII give a much greater income than
If there was 20 war.
Almost every industry viii derive
more or less advantage. American
investors and bankers should get in
much profit from the ability to buy
back from Europe great quantities of
securities at attractive prices in pay
raent for the foodstuffs and raw ma
terial exported from the United
States.
1.-THE United States can become. as
it has this week. the worlds greatest
market for capital, and if the Amer
ican people rise to their opportunity
they ian do a great deal to mitigate
the disastrous economic consequent
ces which would otherwise result in
many countries from a great Euro
pean war.
1T is obvious that for the time
being the money markets of Europe
will be closed to the demands for
new capital of Canada, Brazil, Ar
getina, Mexico and other countries,
and at such a time the prestige of
the United States would be immense
ly enhanced II 1t were TO take the
place of Europe and meet the press
ing needs OF these borrowing coun-
tries.
In brief, a great war in Europe
will give the United States an op-
p~ortunity of assuming the post of
world banker. by supplying capital
freely TO countries and individuals in
all parts of the globe who need it and
can provide the required security.
Should the American people take adj
vantage of the golden opportunity
afforded them by the outbreak of
war, ii will mean not diminished but
increased prosperity for the United
States"
The above quotation from THE
London Statist" deals primarily with
the banking situation. The follow
ing comment by Mr.. II. c. Mayer of
he firm of Eastman, Dillon 4 Co..
refers more particularly to commerce
and industry. while the quotation i'm
mediately following that of Mr.. May
er's concerns the outlook for securi-
ties after the reopening of the mark
cts.
r Commerce and Industry
Mr.. Mayer says:
"Deplorable as the war may be
from a humanitarian standpoint.
there is no question that il will pro-
vide the utmost stimulus TO Ameri-
can industries.
The United States will be the
most important producing country at
peace in the world. Every dollar of
property destroyed must be replaced
With mines and factories largely de-
pleted of workers and capital resour-
ces enormously reduced by the cost
of war, Europe must turn to the
United States as the only organization
which has remained intact and eff
Gent and capable Of supplying It's
needs.
Not only will the United States
supply Europe with foodstuffs; II
will export all through the recon.
%struction period, machinery. agricul.
tural implements, tools. copper, boot.
and shoes and hundreds of othel
products, all of which will roll up /,
most enormous trade balance in ia
yor of this country.
Europe will not, al some think
he unable to pay for these products
Even though II be short of cash i
is wealthy in other possessions. Ter
ritorial holdings. for the most par
u~npledged. many of them. of enor
nous potential value may have to b.
utilized IL necessary as a basis TO
credit. which must mean that tn,
United States will also become tn,
banker for the world.
There is every reason to foresee
beyond a short period of suspense.
great boom In business in this coun
try. created through no effort of ouI
own"
The Markets