The Lynden tribune. [volume] (Lynden, Wash.) 1908-current, 1914-08-20
Opportunity of United States.

The disturbance of American bus
mess caused by the European war
need be only temporary, continuing
| until we have adjusted our affairs
to the new conditions which have
suddenly arisen. When that ad-
| justment has been made. we shall
doubtless profit greatly by EurQpe's
troubles, for this country will be
the largest available source of sup
ply for food, clothing and other
commodities which will be needed
| by the warning nations, whose home
supply of these necessities will be
diminished by the withdrawal of
large numbers. of men from produc-
tive industry to engage in the de-
structive industry of war.
The measures essential to this
adjustment are rapidly being taken
Closing of stock exchanges has al
ready checked the outflow of gold
caused by the panicky dumping of
American securities on the market
by foreigners. Action taken by
clearing houses for the issues of
certificates will safeguard business
against any scarcity of currency for
ordinary needs. The prompt ac-
ton of the Treasury Department in
providing for issue of emergency
currency, and of Congress in relax
ing the restrictions to such an ex-
tent that the volume of this cur
rency may reach total OF l,OOO,-
100000 will provide an ample sup
ply of paper money and may render
use of certificates unnecessary.
Steps are being taken to hasten
completion of the Federal Reserve
Board and opening of federal re-
serve banks. When this has been
done, the new currency will come
into permanent circulation in suf-
Lficient volume for ordinary bust
ness and the emergency currency
will be retired as fast ss 1t is
found not to be in demand. Thus
the temporary Inconvenience to our
domestic trade caused by the out
break of war will soon be over
come.
We shall then be in good posi-
ton to profit by the needs of our
warning neighbors. We can supply
their wants provided we can get
ships to carry our goods. NOn-con-
| trail band goods are not subject to
SelZuEe at SCe, cNth WhCh sSsh
in ships of belligerent, and in
case any belligerent should ignore
The Hague convention, we can Sc
cure them against seizure by car
rying them on American ships. The
amendment to the Panama canal
act. now on it's way through Con-
gress, provides for supply OF
ships under American register by
repeating the requirement that for
eign-built ships must be five years
old and must have American officers
in order to come under our flag.
Under this bill foreign ships tied
up in American ports may be bought
by Americans and with their for
eign officers may come under the
American flag and acquire the
status Of neutrals. Ownership fixes
the nationality of a ship, and no
belligerent could dispute the neu-
trality of a ship Americanized in
! this manner.
Attention of belligerents will be
so conferred on fighting and their
commerce will be beset with such
perils as to be neglected until hos
tilities cease. American merchants
will be able to improve the oc-
casion to enlarge our foreign trade
with our newly-acquired merchants
marine. If we only improve our
opportunity, Europe may emerge
from the war to find us the great
est commercial, as we are already
the greatest industrial and the great
est agricultural. nation In the world.
Portland OregOnian.