Omaha daily bee., 1914-07-28
In the Blazing Balkans
Merits Of Controversy and Interest
Of Americans in the Probable War.
American Interest in servin.

New YORK Times
II an American statesman who asked what
the United States had to do with abroad" No
economist or fnancier could have been guilty Of such
an mbeclity. The assassinatons in sarajevo were
directly related to this weeks export of gold from
New York, and equally close associations with
the price Of the wheat partially harvested the
prairies Of this continent. Finance and commerce
ignore political subdivisions and are much single
as the ocean, which has many waves, but only
true level The money markets Of the world are
under such strain that II though money
could be found for But that ia economic
objection merely. Military finance is a thing apart
from economics logic
II reason ruled the minds Of commanders fol-
lowers, Norman Angels Great Illusion would have
demonstrated that does not pay and that It mat
tered not who ruled a country in a business sense.
For II order prevails commerce will find its way to
profit equally in motherland a colony, equally
in republic a monarchy But is rage. not
reason. It spring from dynastic lust for power,
from racial avarco for territory but whatever
motive, lack Of money has never yet stopped 1t.
Those who have money must part with It to those
who want 1t enough to pay the price. The
paratve strength of this country is no defense
against its being drained Of its resources much
needed at home for trade and so much more needed
abroad for
Those who fancy that It is possible to protect
themselves because they nothing to any for
egner will find that money is borrowed away from
the American at auction at which he must bid. If
his defense is to be maintained. The process is the
opposite Of that at auctions with which most
familiar. Prices offered down rather than up,
until price is found attractive to buyers In world
finance II matters little what is offered down. All
prices are relative in the money market, and when
prices get "out of line investments shifted and
the operator who does not avail himself of the op-
portuntes offering loses a profit, loses
percentage Of his capital. Just American securi
ties being offered down a means of bidding
premium for our gold 1t suits statesmen and
politicians of a sort 10 associate the export of gold
with tariff rather than with foreign politics No
doubt that is contrbutory factor, but the fac
tor is the almost unprecedented bid for capital indi
Gated by the depression in the best sort of foreign
government bonds. In the world auction for money
tariff is a trivial thing in comparison with the fall
of rentes TO the lowest price for generation-wenty
six years. to be exact. The sale OF French loan
the other day said to promise relief to the world
but that loan Is at a discount, unprecedented
incident in French finance In England the situation
is similar The fall of recently to the lowest
price for century is only another way of saying
that capital u dear to every borrower in the worlds
financial capital where favored customers.
The German battaons recently held in
check for a moment by financial considerations and
the kaiser said 1t should not happen again Since
then the Rechsbank has raised its gold by
Al sSs co., The best hope of peace is the tension al
ready in the worlds money markets. but that reliance
alone is a broken reed