New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1914-09-06
copyright. 1914, by
London, August "a.


w.- ike everything else in national
~. aeoends. in the long run, on a
''i,, ~. ~ oririon or on a condition Of
SIC Orinion and feeling, in turn,
l ''.and largely on material conditions
~ s,r.umstanees. and it concerns all
-, 20 find out, il We can, the facts
h determine these conditions
s,o Of them have 70 do with party;
-. With business; and look at the
go Of things to-day will show how
S,.;,ose IS affected by the absence OF
party feeling
4 Party Truce,
of marty spirit you now see and hear
.tuos, nothing: whether in public or
-;,o,c said a tough Conservative;
ar,s great luck that the Liberals are
,a,c There's a section OF the party
Inch would have bitterly opposed the
~ had il been declared by the Union
&c There is no section Of the Union
=. uor.v which does not whole-heart-
.ny support this Liberal government
= carving il on. do not know a
man Of us who hangs back
think that true. meet many men
~ both parties. Not word against
m, war or this Liberal Ministry as a
rsr.malinc Government have ] heard
from any single Unionist.
The only critics Of the Ministry are
90 bc found among its back bench sup
..r,ers and the Labor members. l
NOD some Of them the other day
~ vcdrwood. Mr.. Ramsay MacDon-
"a There are others, like Mr.. Mol
,,ro Mr.. Arthur Ponsonby; and in the
c,biret itself is at least one minister
,.bo has not had the manliness to re-
80, as Lord Morley and Mr.. Burns
al Mr.. Trevclyan is Of 10 great con-
,oouoDce. but at least he resigned from
.no subordinate Office he held IN the
vs.cation Department let him have
,bst credit Altogether, there may be
,birtv or forty Radical members Of
parliament who are al heart against
,Ao war-mcn TO whom tie obligations
-, bonor are less sacred than their
3;srke Of war As things now stand,
marty loyalty keeps them quiet We're
Jniouist Ministry in power they
would be yoluble for peace.
Chancellor and Ex-Chancelior.
Between the two front benches in the
House Of Commons nothing but civiii-
ties pass. All personal aLimosities and
.,.ipsthies are silenced, The Prime
Minister and the Leader Of the Oppo-
sition are on the best Of terms. Mr..
Churchill and Lord Charles Beresford
have shaken hands. The Chancellor
Of the Exchequer and Mr.. Austen
Chamberlain exchange courtesies across
the Aoor. On the much controverted
moratorium question, after Mr.. Lloyd
George had made his statement yes
terday. Mr.. Chamberlain, his predeces-
sor, said:
1T has not been my habit 20 lavish
unmixed praise upon the Chancellor of
the Excheluer and I hope ny friends
will give me credit for sincerity when
] say that l think he has handled a
very difficult question with great tact,
great skill and great judgment
Perhaps even more remarkable Is the
changed relation between Mr.. Lloyd
George and the City. The City means
the great banks, beginning with the
bank Of England, the great houses OF
Finance and Of great business gener-
ally. Till now the Chancellor of the
Exchequer, unlike all previous Minis
tiers Of Finance, has stood aloof from
the CITY and The City from him; with
results unpleasant for both. Ever since
the war began they have walked hand
INLAND. Not without that co-opera-
ton could the business world have been
saved from disaster; or credit main
tanned The pledge Gf Government
credit has been on gigantic Scaie'
When the Government guaranteed the
Bank Of England from loss IN discount
ing bills and acceptances Of date before
the war, the amount IN question was
certainly not less than &35O.OOOVOO'
or S1.-5O.OOO 900; and some good Judges
put IL al 2JO0,000,O0O The rcilet 70
very strained and dangerous condl-
ton Of finance has been enormous. Inc
danger from that source has passed
away. Yet two years ago the Gov
crnor Of the Rank of England was de-
nouncing the Chancellor Of the TX
cbeouer in a speech at a public dinner
at the Guildhall for attempting to man
age tho finances Of the country with
out consulting the City and against ITS
known opinion. The reproach was de
served. II is deserved no longer.
In their turn the banks, some OF
them. but not the Bank OF England
have incurred the rebuke of the Chan
cellor Of the EXchequer. Many OF them
he told the House Yesterday, have be
haved admirably. Some Of them have
not. The Government has done much
for the banks. Eve did it in order 70
enable chem to finance the trade oil me
country during a crisis" Some %
them, from timidity or from over-re
gard to their depositors, have ShrGn"
from taking the risks they we're ~
duty bound to take. lie does not mans
the defaulters. but iHtimateS he may
presently be obliged 10 name them u
they do not mend their ways lhaI j.
q very British way of doing things
far warning before the blow.
The Moratorium.
Berlin boasts that she has not beer
obliged to resort to d moratorium; o.