Evening journal., 1914-07-28

If Europe is going 10 plunge into
war on any tremendous scale, here is
something for Americans TO remem-
Der All the very beginning. This
country is in practically every respect
IN better shape than any other TO
meet the shock and stand the strain
OF such a conflict.
As an argument for peace the ex-
pense of war serves its purpose until
the clash of arms comes, but II
Europe is going TO break the peace
which 1t has maintained with SO
much eXtrayagant waste of wealth ON
armament there is bound TO be a
painful realization Of the awful price
at which such a war is waged. a
European war of any consequence
will infict damage outside Of Europe.
The greater the conflict up TO the
dimensions of the incomprehensible
struggle which suddenly doomed into
prospect last week, the greater the
damage which will be wrought H.
is going to cost the Old World fear
fully in men and money, and all the
nations Of The earth will be called
upon to help pay the price Quite
apart from the diversion of funds 70
the uses Of war. all the ordinary
processes Of International finance and
commerce will he thrown into de-
rangement and tho dislocation Will
be reflected in the field Of domestic
enterprise.
II is Just as we'll to face these facts
at once The business and banking
community will be better prepared
I. ~. fr ttt "A
the present European crisis has the
worst possible issue. There are off
setting considerations which must
qualify apprehension. and their ef-
fectiveness will not be diminished
but increased il there is no attempt
TO minimize the awful gravity Of
foreign contingencies by assuming
that they constitute Europes quarrel,
with which the rest Of the world has
little concern.
Both in its present and in its future
aspects as nearly as they can be dis
cerned now. Americans will have
every reason based on The position
Of the United States. economically
and otherwise and every inducement
OF self-interest. for refraining from
an alarm which can only help TO ag-
gravate the immediate strain Men
who have in their hands the direction
oil the country's affairs of finance.
business and government will most
assuredly do all in their power TO
mitigate the severity Of any shock
communicated here from the Euro
pean contest
Their efforts can be wonderfully
assisted by a widespread recognition
OF the virtue of sitting tight at
disturbed iuncture A good deal Of
trouble never happens if it is not
precipitated by the unreasoning con
duct Of people who surrender
promptly TO the impulses of excite
ment For the preservation Of COM
posure al this particular time various
inducements are offered by the cir
cGmstanccs Of foreign and domestic
affairs in the last two years and by
a legitimate regard for The outcomes
Of Europo's resort 10 arms which
may benefit the United States.
In its ultimate relations anything
resembling q general European war
would seem likely to guarantee that
the economic future will belong to
tho American continents. especially
to North America. The paralysis Of
European finance and commerce dur
ing any such upheayal and their
subsequent prostration Will leave the
way clear for all nations whose ener-
gies have not been denilitated and
whose resources have not been eX
haustcd by the waste Of war. II was
in the civil war that American shipr
ping supremacy was lost. As a re-
suit Of European war it may be
regained. with contributing influences
to it's recovery provided by The facil-
tics for commercial expansion which
tho Panama Canal and the approach
Ing modernization Of The American
banking system viii supply.
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