Evening star. [volume] (Washington, D.C.) 1854-1972, 1914-09-13

has participated in the Chinese loans a.
a member of the international group
Beigians as international financiers ard
administrators often have been called
on to fill responsible positions in coun-
tries where the Earring interests of rival
nations made a neutral necessary. Persia
is the most recent example of this kind.
The invading Germans in levying war
indemnities and forced loans on the Bel
gians as penalty for defending its
neutrality doubtless are aware of the re-
sources of the group of Belgian banks.
which have been able to supply capital
to all sections of the world. They may
know something. also. OF the utilization
of the Belgian banks with Paris and
London financial groups.
The chances are. however. that they
underrate the resourceful resistance OF
the Belgian tinanciers. who are so potent,
though unobtrusive. In the worlds f.
nances. These financiers. while ven-
turesome, always have shown their abil-
fty to meet an emergency. In the great
est Of all emergencies that now has
arisen they are not likely to be found
wanting.
Though no one may predict when the
waste OF war will be ended. the proba-
bi'ity is that the Belgian bankers are
thinking OF that time. and Of conserving
what they have SO that Belgium may
not be delayed in her recuperation. II Is
possible that the foreign investments,
which in the main have been wise ones.
will be one means of recuperation Bad
" as the capital may now be needed.
few of them are in position TO be real
lied m
Belg'ans have not been large investors
in American securities as compared. Tor
instance. with the Dutch. but Antwerp
has bought railway stocks and bonds
through London. In Canada there are
heavy investments In land and mortgage
companies. In other countries most OF
their investments are productive. ana
they can count on their regular dividends
while figuring on the possibility Of get
ting their original capital later.
The Immediate fact, however. is that
Belgium. industrally and commercially
as well as politically. is stricken nation.
the victim of its situation as a buffer
state. While England is able to keep the
ocean lanes open, and while its, factories
may continue to supply South America
and other foreign markets. Belgium has
no such opportunity. Its trade and in
dustry are paralyzed.
Some of its foreign commerce even may
go to England. bee ause the Briton as a
world trader is not going to stop to in
quire whether it Is the market of an ally
or of an enemy that may be open to him.
He will take whatever opportunity of-
IeTS. anu drteF tne War rs eHueu ue ny Hu-
man. he will not be likely to restore what
has come to him. In the nature of inter-
national business he cannot do il.
While the industrial waste and loss for
Belgium will be enormous. and while the
loss of life will be worse there is no rea-
son to suppose that the character of the
people as an Industrial and a trading
people will be changed by the result Of
the war. They viii be knit together more
closely in adversely and their genius will
seek its natural bent This genius is es-
sentially for industry and world trade.
Seven and half million people who
could be assembled in a corner of Texas
and who have shown astonishing powers
of Industrial and commercial organiza-
ton are force to be taken into account
by whatever nations make the winning
throw of the war dice.