Daily capital journal. (Salem, Oregon) 1903-1919, 1914-08-19

maelstrom. Europe and the rest of the
commercial world are looking to the
United States as never befors. While
Europe cannot expect the United
States to finance the war, we are quite
likely to give important aid in the
matter of extending credit and reliev.
ing foreign bankers OF their usual sea
s0nal financing of American products.
We may even find it to our advantage
to aid finance the war If such funds
are used to pay for our whea-, cotton,
etc, Our surplus food supplies win be
sold to Europe at handsome profit
The world may consume less cotton next
year, but Lancashire is hungry for the
flcecy staple that must be had in order
to keep her mills going and her export
markets satisfied with cotton fabrics
Germany will unfortunately suffer a
tremendous loss in export trade, which
neither Great Britain nor France will
be able to make good. Some of the ar
ticles which Germany produces for ex.
port, of course, cannot be duplicated;
but there would seem to be no reason
why many of tho big orders which she
receives for steel products should not
como to the United States, especially as
Great Britain will not be able to satisfy
such demands. Germany, moreover,
has an immense overseas commerce az
gregating about $4,500,000, 900, which
will be partially lost and may be per-
manently impaired. German vessels
have carried on an enormous transatlan.
tic trade with both north and sonth
America and also with the far east.
A very considerable portion Of this
might be won by the United States did
we possess an adequate merchant mS-
rine. The time is highly propitious for
such movement. Prompt and intell-
gent legislative action is needed. If
we are to regain our former prestige up-
on the high seas we must be able 20
build and operate ship, as cheaply as
our competitors. Unless we 90 in on
the same basis as our rivals important
success would be very doubtful Con
gress is now considering new legisla-
tion upon this important subject, and it
is to be hoped that the snaclsles which
have impeded om American develop.
ment will now be permanently removed.
For many years we have been fully oc-
cupied in building railroads for the de-
velopment of our domestic trade. Now
we need to build ships to develop onr
foreign trade; and as the situation is
such that we cannot wait until these
vessels are constructed, we must seize
the opportunity by buying the best
ships on the best terms that may be
obtained.
The European nations are no longer
polite to each otaer, all being at log
gerheads, and not until "the hurlybur-
ly's done and the battles lost and
wonp will there be peace. Who could
have dreamed that this goth century,
with civilization in its present advanc
ed stage, that history would repeat
itself in the barbaric fighting now go
ing on between the nations of Europe
However, the expenditure OF $50,000,-
600 day for war needs, as at present,
will eventually be an important factor
in bringing about peace and the laying
down of the lion and lamb together.
Should this result in general dis
armament of all nations it would 80
far toward compensating for the loss
in lives and treasure as general arma-
ment was certainly leading to the gen
cral bankruptcy of almost the entire
world.
The present is a particularly favor
able opportunity for intending invest
ors. The United States is the only
great country with great possibilities
that is free Of the curse and demoral-
ization of war. There are, especially
mn nty NJ rnA ~ L. 4
more promising than American; and
those who buy outright in these times
Of present low prices ior permanent in
vestment, and hold ON without regard "a
shocks or setbacks win in due season
reap handsome profits. TO those will.
ing to buy on this basis we particularly
invite either mail correspondence or
personal interviews for consultation.
HENRY CLEws.