davidaulloa/AmericanStories huggingface dataset:
The Washington herald., 1914-09-20
NO CAPITAL FOR RAILWAY EXTENSION In
AMERICA.

= Obviously, demands for capital for other pur-
poses than war loans will go begging until the
latter are fully distributed 1t is at this point
that the effects of the war will be felt most
keenly in restricting new enterprises and check
ing the progress usually made in the construction
of railways, mills and machinery. Whatever
policy may be adopted in the United States for
the protection of the stock exchange and the
American money market, it will not be possible
TO escape the pressure of the world waste of
capital. The natural tendency in Europe will be
to continue to sell American securities on the
Nav York market in order to obtain funds to
subscribe for national war loans. America, thus
compelled TO employ her savings in paying back
the loans obtained over long term of years
from Europe, will have practically no money
available to put into railway construction or
other extensions of the industrial equipment.
The railways may as we'll make up their minds
that they can sell practically no new securities
for the next few years, and that in the few cases
where borrowing is imperative they must pay
very high for the money borrowed. They must
adjust their rates and traffic policy to these con-
ditons. The same will be true of new mill con-
,struction and additions to machinery. While in
a few cases. no doubt, capital for such purposes
will be found it will only be where the promise
The Washington herald., 1914-09-20
By CHARLES A. coNANr.
Coopgright. lsl4.J

1t is this condition which threatens to con-
front the civilized world as the result of the
present war Not only is fixed capital being
burning of Louyain and the destruction of
bridges and railways, but the savings of several
years are likely to be mortgaged in the ways
above indicated for the expenses of the war
Inevitably the goods. actually consumed in the
war must be those already in existence; troops
cannot live upon the phantom wheat or the I'M
made shoes of next year or the year after. Un-
der the modern organization of credit, however
the production of manufactured goods far in
advance of actual consumption-it is possible
for the contending armies to consume not merely
the product of the current year in food, uni
forms, and supplies, but the stored product of
several previous years, making the net result to
lmpoverish the community by the destruction of
its entire accumulated stocks. In such field as
penditure of thousands of days of labor upon
such intricate and costly giants as the Maure-
tania and Imperator is consumed in an hour
if they are sent to the bottom by hostile shell.
How much this means in labor value was illus
trated FIVE years ago by the present writer, as
follows:
"A modern battleship easily costs $6OO0,OOO,
exclusive of armament. When six of these float
ing masses of iron and steel went to the bot
tom in the battle of the Sea of Japan, not less
than $40,000,000 was destroyed in day. 1t
represented, at earnings of 5000 per year, the
labor of 100000 Russian peasants for year, or
more than $500 men for thirty years"
The Washington herald., 1914-09-20

What will be the cost of the present war to
civilization, so far as it can be calculated in
terms of money? How many years is it likely
to set back the development of new constructive
works?
What will be the effect of big war indemnity
levied on the conquered nation5
These are questions which can only be an
swered fully by the progress of events and after
the length and character of the war are known.
1t is already clear, however, that the laborious
work of upbuilding the present structure Of
Iabor-saving machinery and modern credit is
being largely undone and that it will require
years for its restoration,
The most obvious and immediate effect of the
war, from the strictly financial point of view,
will be the demand which it will make for the
entire savings of the community for several
years to come for the payment of war expenses.
Whatever devices may be adopted, temporarily,
to obtain money and credit to carry on the war,
FITS financing will finally resolve itself, in large
measure into the issue of long-term bonds to
take up short-term credits and to pay floating
sebts incurred for military supplies. If the cost
aof the war for year is $4,000, 100000, accord
ing to current estimates it is possible that about
bne-quarter of this can be paid from current
taxation. This will leave from thirteen to four
teen billions to be distributed in loans. The is
sue of $13,OOOOO0yOOO in securities in single
year will represent about three times the amount
which is usually available in new savings to put
into security issues Inevitably, this will absorb
all the available capital in sight and will put
severe strain upon the ordinary credit resources
of the commercial banks as well as the banks of
issue.
The Washington herald., 1914-09-20

that payment might be made in gold or silver,
in notes of the central banks of England, Prus-
sia, Holland, or Belgium, or in 6rst-class bills
of exchange. 1t was in the latter form that the
bulk of the payments were, in fact made. Only
about $143,000,O0o was paid in various forms
of currency, including bank notes, of which
about $9s, 100000 was in gold and silver The
payments made by bills of exchange reached
about $s2OpOo,OOO
There is no doubt that an indemnity running
to double, or more than double, the amount paid
by France to Germany could be paid by either
France, Germany, Great Britain, or Russia
without any more serious disturbance to their
economic life than would arise from the I'M
position of the taxes necessary to pay the an
nual interest. There might not even ensue the
artificial stimulus to indemnity which occurred
in Germany in 1873 when the whole amount
of the French indemnity was placed at the
command of the German government and bank
ing community.
PALACES OF THE PEACE ZEALOTS.
An attempt has been made by some of the
overzealous advocates of universal peace and
a
war indemnity could not be paid without grave
disturbance to the economic intersts of the
country receiving it. Thus Mr.. Norman An
gell, in his widely heralded book, "The Great
Illusion, declares, in italics:
According to the economic doctrine no1v
most in fG0Or iH Germany, and coming to be
most in favor in EnglaHd, German prosperity
1VoHld suffer more BY reeeiaIng this money than
arOnld English by paying It,
1t is to be, feared that this is not the economic
doctrine which would be most in favor" with
the Kaiser if he once had his foot upon the
neck of England. In response to delegation
headed by Mr.. Angel, seeking, with tears in
his eyes, to convince the Kaiser that Germany
would suffer more than she would gain blythe
exaction of an indemnity, the Kaiser's reply
would be very apt to resemble the colloquial
quip, 1T is to laugh"
Mr.. AngelTs reasoning appears to be based
upon the theory that the only methods bE which
an indemnity could be paid would be by the de-
livery of goods or gold, and that If the amount
in goods necessary to settle the indemnity were
delivered without paying tariff duties they
would break down the German protective sys-
tenn; while, on the other hand, the delivery of
gold coin and bullion would be equally demoral-
izing to the German money market and all other
money markets 1t is hardly necessary to say
that neither of these forms of payment would
be necessary. If Mr.. Angel would get an ele-
mentary textbook in foreign exchange, or would
read the mastery report of NJ. Leon Say, the
French minister OF finance, on THE Payment
of the War Indemnity, and on the Exchange
Operations Which Resulted from It," he might
qualify for the primer 'class in the discussion"
of such intricate financial problems.
If Germany should conquer England and
should exact from her an indemnity of 2OOO.-
100000 pounds sterling, the bulk of it would
not be exacted directly in either gold or goods.
1t would probably take the form of the deposit
The Washington herald., 1914-09-20
EFFECT OF A WAR INDEMNITY.

IT, in addition to meeting actual war ex-
penses, one or more of the leading powers 10
subjected to an indemnity payment by the con-
queror the pressure upon the money market
will become still more acute 1t will be neces-
sary for the conquered government to find the
means to transfer the amount of the indemnity,
in some form, to the oonqueror. This will not
mean, necessarily, that physical wealth. either in
goods or gold, will be transferred. The trans
fer might be accomplished, as was the case with
the French Indemnity to Germany, levied in
1871, by the transfer of titles to wealth Itwas
recognized when the indemnity was levied by
the German government that its payment would
cause serious arrangement in the money market
unless. great care was exercised in the transac-
ton. 1t was provided in the treaty therefore,
The Washington herald., 1914-09-20

It's Effect in Destroying Capital and Alb
sOrbing the Products Of Labor IN Years
to Come How the War Loans VIII Be
Distributed Effect on Demands for
Capital for Constructive Purposes.
Probable Rise IN the Wages Of Labor.
How War Indemnity Might Be Paid.
Vaporings Of Some Peace Zealots.
The leader-enterprise. [volume] (Fitzgerald, Ga.) 1912-1915, 1914-03-20

Georgia; w. R. Norman, Kentucky;
R. X. Roney, Louisiana; ]. M. Max
well, Mississippi; A. L. French, North
Carolina; z. t. Miller, Oklahoma; DR..
G. R. White, Tennessee; E. F. Till
man, Texas; S. D. Cross, South Caro-
lima; H. c. Stewart, Virginia.
A committe was appointed to work
with the railroads for the purpose of
securing better transportation rates
on pure bred cattle for breeding pur-
poses.
An active campaign for members is
contemplated, and sufficient funds will
be raised to employ a field agent to
assist in organizing county associa-
lions and in otherwise promoting the
work DR.. TAFT Butler, progressive
farmer, Memphis, Tenn, was appoint
ed treasurer, and will receive CON
tributions to assist in developing g
greater cattle industry in the south
Every man in the south is expected
to encourage and assist this organiza-
ton in its great work, especially every
cattleman and business man.
Representatives of the st. Louis
packers offered to assist the organiza-
ton in substantial manner.
The leader-enterprise. [volume] (Fitzgerald, Ga.) 1912-1915, 1914-03-20

The Southern Cattlemens associa-
ton was organized at Montgomery,
Ala, July 8, 1913 A hundred or more
cattle growers and shippers, national
and state live stock officials and rep
resentatives of the stock yards and
railroad interests were present and
took an active interest in the organ,
lzatlon of the association.
The avowed object of the associa-
ton are as follows:
1. The eradication of the cattle
tick.
2. The development of a profitable
cattle industry in the south.
3. The promotion of effective and
uniform national and state live stock
sanitary legislation.
The means which have been sug-
gested for the Accomplishment of
these objects are in part as follows:
L. The holding Of meetings for the
discussion of live stock problems and
the dissemination of live stock infor-
nation. 2. The organization OF local
or county associations which will pro-
mote the work Of tick eradication and
the Improvement of the cattle of the
locality by the introduction of pure
bred bulls. 8. By assisting the small
live stock producer in marketing his
products.
1t has been suggested that an active
held agent may be employed by the
association to assist local cattlemen
in the attainment of these purposes
At Memphis, Tenn, on December
10th and 18th, 1913, the first regular
meeting was held and a constitution
and bylaws adopted fixing the an
nual membership dues at $500 per an
mum. At that meeting a large num-
Der OF cattlemen were in attendance
from all the southern states, from
Kentucky to Florida and from Vir-
GINA to New Mexico, and enthusiasm
ran high. Every southern cattleman
owes it as his duty to join this as
ISOLATION, and bankers, professional
men and merchants can well afford
to give it encouragement and assist
ance
The initial work of the associa-
ton will be directed toward the Grad
1cation of the cattle tick.
The work will be carried on in CO.
operation with the government, the
Cattle Growers associations of the
The leader-enterprise. [volume] (Fitzgerald, Ga.) 1912-1915, 1914-03-20
May Have Women
Members Of Boards

Atlanta; March 10. Atlanta
is face to face with the feminist
problem, and the time for tenn
porting is over. Shall the poll
tical equality of women be ad-
mitted by putting them on vari,
Gus city boards, or shall it be re-
fused?
The special council committee
appointed to consider the subject
holds it's first meeting this after
noon, and it's recommendation
will in all probability determine
the attitude of council for some
time to come on the whole ques-
ton Of Woman's sphere in politics
if she has any.
The question comes up in the
form Of a resolution introduced
by Councilman Claude Ansley
proposing to amend the city char
ter so as to make it legal for wo-
men to serve on certain city
boards, including the health
board, the sanitation board, the
school board, and number Of
other important ones.
The leader-enterprise. [volume] (Fitzgerald, Ga.) 1912-1915, 1914-03-20
Vaughn Taylor News

On account of few fair DAYS
the farmers are hustIing in their
fields getting their lands ready
for planting.
Sunday was regular preaching
day at Providence, a good crowd
attended the services. Among
the visitors was Mr.. and Mrs. H.
D. Vaughn from near Fitzgerald
and also Mr.. Lewis Wilcox.
Mr.. and Mrs. T. F. Roberts
and family spent Saturday night
at Mr.. W. H. Roberts.
Mr.. Loosen Griffin and Mr.. ].
+. Horton from near Ashton
spent Tuesday night with Mr.. G..
"A. TCOD0FCS.
Miss Ethel Barnes spent Sun
day night at Mrs. w. H. Roberts.
We are glad to learn that Mrs.
Charlie Hunter is improving af-
ter being i'll for such a long time.
Miss Vera Mae Garrison is Oh
the sick list this week, hope she
will soon recover.
Mr.. Roscoe Garrison and sister
spent last Saturday night at Mr..
c. E. Belchers.
Some one broke in Mr.. Belch-
er's store last Saturday night
and stole a good many things.
":Blue Eyes,.
The leader-enterprise. [volume] (Fitzgerald, Ga.) 1912-1915, 1914-03-20
WILL ERADICATE
CATTLE TICK
Southern CattIemen Organize to
Conduct Active Campaign for
More and Better Live Stock
in the South.
WILL IMPROVE THE BREEDS

Cattle Tick the Greatest Hindrance to
Stock Growing in South-Pest
Costs Over $too,ooo,oco Annually
prominent Men at Conven-
ton Discuss Best Plans
Tick Must Go.
The leader-enterprise. [volume] (Fitzgerald, Ga.) 1912-1915, 1914-03-20
Notice.
Tax Receivers Second Round.

Tax Receivers Second Round.
| will be at nay Office in the Court
house on the following days March
o.
23-24-25-26-27-28Jh.
At Ashton Tuesday morning
March 10, 10o'clock a. NJ. to noon.
At Dickson's Mill Tuesday
evening March 10, 2 O'Clock p. NJ.
to 3 p, M.
At Bowens Mill Wednesday
morning March IL, 10 O'Clock a. NJ.
to noon.
At Vaughn Wednesday evening
March II, 2 O'Clock p. m. to 5 p m.
At Williamson's Mill Thursday
Morning March -, 10 O'Clock a, m.
to noon.
[ will be at the above named
places on-the dates mentioned on
my second round for the purpose
of receiving state and county tax
returns for TIE year 1914.
j. B. F. Dixon,
Tax Receiver.
The leader-enterprise. [volume] (Fitzgerald, Ga.) 1912-1915, 1914-03-20
Point Comfort 14th-337488-Gr
Champion International Live Stock
Exposition, 1918, Owned by w. J..
Davis, jackson, Miss.

Champion international Live Stock
Exposition, 1918, Owned by w. J.
Davis, jackson, Miss.
southern states, and many other or
CARNATIONS, together with prominent
stock men and farmers of the south.
Some of the things advocated at
the convention are:
1. That the railroads put cheaper
rates on breeding cattle.
2. That the government stop all
interstate shipment of tick-infested
cattle. This includes cattle on the
way to market for immediate slaugh-
ter as we'll as animals being used for
stocking purposes.
Resolutions were passed soliciting
the cooperation of the oil mills of
the south in building up the cattle
industry and suggesting to the bank
ers of the south the Importance Of
making cattle basis of credit.
Professor Holden, director of Ag-
ricultural Extension Department Of
the international Harvester Company
Of New Jersey, addressed the conven-
ton. He considered the organization
Of the southern cattlemen the begin
ming Of successful live stock growing
on a large scale and the opening gun
for the intelligent diversifcation of
crops in the cotton belt. He was very
enthusiastic in his remarks relative
to the future of the south, and offered
to assist the people in every way
possible to carry out the objects of
the association.
officers elected are.
D. S. Combs, Hickory Valley, Tenn,
president.
DIR. TAFT Butler, Memphis, Tenn,
secretary.
The vice-presidents are:
DR.. c. A. Cary, Alabama; Mcqueen
Chaires, Florida; DR.. P. F. Bohnson,
The leader-enterprise. [volume] (Fitzgerald, Ga.) 1912-1915, 1914-03-20
Bible Students

The international Bible Students
Glass meets every Sunday at 2:3Q
p. m. at the Woman's Relief Hall
on Main street. All are cordially
invited to meet with them.
The leader-enterprise. [volume] (Fitzgerald, Ga.) 1912-1915, 1914-03-20
United Brethren Church
West Oconee street.

West Oconee street.
Rev. Chas A. GUN, Pastor.
Sabbath School at $3.50 a, M.
Preaching at 1915 a. m. and
1880 p. NJ.
Junior Y. P. G. f. at 2:30 p. M.
Sunday.
Prayer meeting Wednesday at
1870 p. ~.
The leader-enterprise. [volume] (Fitzgerald, Ga.) 1912-1915, 1914-03-20
Notice

All children are invited to the
Woman's club rooms on Saturday
afternoon from 4 to 5. Mrs. Lon
Dickey will have charge of this,
the childrens hour"
, 1914-12-09
Censored ut Jamaica

ACNA'''NNt ~ pbilidll'A.
London, Dec. 4th-A French oficiul COM
muulque says: "ln Belgium there has been
an intermittent and fairly spirited canuouade
between the railroad from Yprcs to Roulers
and on the highway between Becejaero and
PasschendaeIe, whore tho enemy endeu-
vouted to gam ground without success At
NermclIes we are organizing the positions
taken from the enemy. From the Somme to
the Argonne region there has boon quiet
along the entire front. In Argonue several
attacks were made by the German infantry,
but they were all repulsed 10y our troops,
particularly at Ia Come, northwest of the
forest In Gruro. There has been some
artillery firing in the Woovro district and
Lorraine
A Berlin official statement says In the
western theatre the French attacks against
our troops IN Flanders have been repeatedly
repulsed, Us also in the region northwest Of
Althrch, where the French have suffered
considerable losses. In the eastern theatre
, 1914-12-09

the cncmy'- attacks east Of the plain Of the
Maau'ian hikes have been r~cpuIsed with
heavy losses to the Russians. Our offensive
IN Poland is taking its normal course. The
Kaiser arrived in Berlin last night for Il short
stay
The Petrogrod ,Dourse Gazette reports
that prisoners in great numbers, cannon, aud
machine guns have been brought into LODI
by the Russians, and that in GaIicia the
Russian ring is drawing closer about the
Austrians, the energy OF whose resistance
hus relaxed.
A Reuter- despatch from Cairo states that
British acroplanrs, which hive been making
constant flights lately off the Sinai Peninsula,
have not seen any sign Of the enemy. The
Bedouln@, who attacked u patrol t. fortnight
ago, received an unforgettaLle lesson and ale
NOW imprisoned Mt Jatfa.
The DAILY News correspondent in north
eastern France states that fierce fighting is
taking place along u considerable portion of
the battle line. The Germans anticipated a
concerted forward movement by the Allies
by making Il spirited attack themselves, and
before dawn yesterday a lnr9e force of Gen
mans crossed the flood waters of the User
by means of big, broad RATS, each carving
80 to 60 men and mitrailleuses, while a fur
ther fleet of RATS, drawn bv motor boats,
was waiting on the German side. Before
dawn the plot was discovered and when dav-
break arrived the artillery Of the Allies met
the advancing Germans with devastating
effect, but despite their losses the Germans,
brave even to madness, essaved the PRESSING.
They We're partly covered by Il heavy can
nonade by their field artillery, and until mid
day they persisted III their plan. Numerous
lafts We're upset i'll miGstream by the fire Of
the French guns and great numbers Of the
Germans were drowned or shot. The attack
eventually ceased after the Germans had
suffered immense losses in men and mitrnil-
leuses.
y despatch from Betgep, Norway, states
that the interned North German L1oyd
Liner, "Prinz Frederick WilheIm' went
ashore in u gale and is now hard and fast on a
saudbauk.
y British prisoner named Lonsdale, who
was confined in the Doeberitz camp, has
been condemned by a German |courtmartial
to ten years imprisonment for an attack upon
his custodIaus. According to the 'Lokal
Anzelger, when the occupants of a tent in
the camp falled to turn out for work a group
OF reServlsts We're ordered to drive them ont.
Some scutllng onsued and there was a free
use made of the butt ends of rifles Ions
dale stuck a German soldier III the chest
aud tried TO hit HIM in the face, where
upon 4 Sergcant-Inaj2r drew his sword and
struck Lonsdale several blows on the back
Dispatches from Melbourne state that the
existing preference granted to goods pro-
, 1914-12-09
Censored ut Jamaicl)

London, Dee. 5th-A French Official COM
miutq0e states: North OF he Lys We
have made preceptihIe progress Our infall-
try, attacking at dnybrrak, occupied in one
operation two lines Of entertainments the
advance being five hundred yards, aud part
Of the hamlet Of Weindendyeft, one kiIome-
ire north west Of Laugrmat elk, remaiurd in
our possession. In front Of Pu4eIe, halfway
between DiXmUde and Ypres, we took
possession on the right bank of the Canal of
a house belonging TO a t%eIlyman, the occu-
PATTON of which In! been disputed spiritedIv
for a month. The enemy eudeayoul Ell, but
without success, to compel Us by means Of q
violent attack with heavy artillery 10 evacu-
ate the conquered ground. III the regions
Of Arras and Champagne there have been
intermittent cannonades from one side and
the other. Rheims has been bombarlpd
with particular severity, whle we have des-
troyed with our heavy artillery several Of
the enemy'a earth Qualifications. In Argonne
the contest continues tie be very hutIy wage.
We have occupied several trenches there AND
repulsed ull counter attacks.
German official despntchcs state: 'sThe
French attacks on Friday in Flanders and
south Of Metz were repulsed and we made
progress at In Bussee, in the forest Of
Argonne and south west Of Altkirch. In
the fighting east of the Mazurian lakes the
the situation IS favourable for us, and in
minor operations there we took twelve hun
dred prisoners. Our operations in Poland
are taking a northWard course.
U%nofliclal German dispatches report an
epidemic of typhoid in western Flanders,
owing to the insanitury condition Of the
trenches along the User md elsewhere, and
this has necessitated Il Withdrawal from posi-
tions which the German officers state would
Otherwise have been held. The troops in
the entire territory from Client, Bn14es and
Brussels to the sen have been rvaged by
the disease, among the victims being n son
OF the Duke OF Wurtembnrg. The military
authorities are asking for more civilian phvst-
clans and also for nurse, to be ,eul from
Germany to the hospitals III eastern Belgium.
The "Staudald's' Paris colresnoudeut
states that the Germans have lost s,ven
H'Ppelins aud t~ifty-two aeropIanes, with Ugh
ty-six officers and men, and that they 10 no.