The Washington herald., 1914-08-01
War Crisis Brought Home.

With war yet to be declared by any of the Euro
pean powers outside Of Austria Hungary and Serua,
the crisis as it now exists and the possibilities which
it holds were impressed upon the people of this
country yesterday. For the first time since 1873 the
New York Stock Exchange was closed in an emer-
gen the exchanges of nearly all the important cities
including Washington, following suit The declara-
tion of "a state Of war" by Germany resulted in the
caneeling of the sailing dates of the great ships OF
the Hamburg American and North German Lloyd
lines, plying between this country and Europe while
France has requistoned for war service vessel of
the French Transatlantique line The merchant ships
flying the flags of other nations likely become in
volved in may be withdrawn at any moment, thus
seriously impairing, if not altogether cripplng the
Atlantic carrying service and greatly embarrassing
thousands of Americans whose desire to return home
is increased to anxiety with the imminence of a
general European war
This threatened paralysis of shipping calls swift
attention the helpessness of the United States
without merchant marine, not only to supply the
imperative needs of its citizens, but to take ad-
vantage of the tremendous European demand for
our products of every description that war will
create. With the great maritime powers at war
among themselves, their shipping would be tied up,
while the one nation with vast products TO supply
the waiting markets. whose flag would be safe on the
high seas is helpless because it has no ships to fly
il. President Wilson and Secretary Of Commerce
Redheld, however, are to be congratulated upoE
giving early consideration to this important phase of
the situation, with a view to securing immediate
action by Congress to admit foreign-owned ships
American registry should that be feasible. Should
foreign obstacles arise to this pan which might give
the United States permanHt advantage the seas,
plans for purchase of the foreign merchantmen under
provision of the Panama Canal act must be con-
sidered.
The Senate's action in promptly adopting an
amendment to the Federal reserve act providing for
IN issue of Ssoooooooo in emergency currency in
it is deemed necessary is likewise commend
able precautionary measure calculated to inspire pub
lie confidence in the administrations ability and de-
termination TO deal with conditions confronting this
country as result of European turmoil with wisdom
and foresight The closing of the New York ex-
change yesterday eectually forestalled further de-
moralzation of prices and the administrations prompt
relief insures early restoration of tranquility in
this country while the skies are falling abroad
In Europe it seems inevitable that the worst is
soon to be realized. Russia announces the mobliza-
ton of all her ships and men, and instantly Germany
mobilization France still clings to the vain hope of
peace, which only a miracle can preserve but II is
admitted that her forces will be called to arms i'm
mediately following German mobilization. England's
war preparations go steadily forward. There seems
reason doubt that the curtain about to rise
on drama that, beginning in pomp and glory, will
close in desoation and death beyond the human i'm
imagination to measure.