Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1914-08-15
UNITED STATES IN fine SHAPE To
MEET EUROPEAN WAR PROBLEMS

The New YORK Sun, whose excel.
lent article on the causes of the Eu'
ropean war was recently published in
the Star-bulletin. has an Illuminating
column on What the war will mean
to the United States" The Sun says
IL Europe Is going to plunge into
war on any tremendous scale, here is
something for Americans to remember
at the very beginning This country
is in practically every respect in bet.
ter shape than any other TO meet the
shock and stand the strain of such a
conflict.
AS an argument for peace the expense
of war serves its purpose until the
clash of arms comes, but IL Europe is
going TO break the peace which it has
maintained with so much extrava.
CANT waste Of wealth on armament
there is bound to be painful realiza.
ton Of the awful price at which such
a war is waged. A European war OF
any consequence will inflict damage
outside of Europe. r.
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 1t is
going to cost the Old World fearfully
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 to the uses of
war, all the ordinary processes of in
ternational finance and commerce will
be thrown into arrangement and the
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
thereby to deal with the situation if
the present European crisis has the
worst possible issue. There are Off
setting considerations which must
qualify apprehension, and their eff
fectiveness will not be diminished but
increased If there is no attempt to
minimize the awful gravity of foreign
contingencies by assuming that they
constitute Europe's quarrel, with
which the rest of the world has little
concern. .-.-...... .. L.
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 other
wise, and every inducement of self.
interest, for refraining from an alarm
which can only help to aggravate the
immediate strain. Men who have in
their hands the direction of the coun.
try's affairs of finance, business and
government will most assuredly do all
in their power to mitigate the severi.
ty of any shock communicated here
from the European contest.
Their efforts can be wonderfully
assisted by widespread recognition
of the virtue of, sitting tight at dis
turbed juncture.h A good deal of trou-
BILE never happens if.it Is not precip-
itated by the unreasoning conduct of
people who surrender promptly to the
impulses of excitement. For the pre-
of composure at this particu-
lar time various inducements are of.
fered by the circumstances of foreign
and domestic affairs in the last two
years and by a legitimate regard for
the outcome of Europe's resort to
arms which may benefit the United
States.
Z In its ultimate. relations anything
a general European war
would seem likely to guarantee that |
the economic future will belong to the |
American continents, especially tol
North America. Fhe paralysis of Eu-
ropean finance and commerce during |
any such upheaval and their subse-
luent prostration will leave the way
clear for all nations whose energies
nave not been debilitated and whose |
resources have not been exhausted by
he waste Of war 1t was in the civil |
var that American shipping suprem.
icy was lost. As result of a Euro /
bean war it may be regained with
influences to its recovery
provided by the facilities for CONNER.
,ial expansion which the Panama
ANAL and the approaching moderniza.
ion of the American banking system
will supply. ... Z.
In more ways than one the folly of
warfare which Europe has long been
threatening to commit and at last
ieems determined to perpetrate must
pell opportunity for the United States
Among other things it is likely to
,royide splendid opportunity to ex-
ricate the country from debtor con.
Iition represented by the large Eu-
opean holdings of Ameicanf securi-
les. The Sun believes that advantage
will be readily taken by American In
'estors to absorb on their own terms
he further sales of stocks and bonds
which Europe may seek to make here
t the dictates of fear or necessity
( the absorption can be augmented by
he purchase of European state funds
# other foreign obligations which will
lace the Old World In debt to the
United States, so much the better.
Meanwhile there are other encour-
ging considerations which deserve to
e noted There could hardly be a
ess unfayorable time for Europe toi
ry the desperate solution of gen
raj war for the problems that have
or decades made il an armed camp.
N tho solution othcP nrohIonnc which