Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1914-01-07
SITUATION As viewed
BY HENRY CLEWS

New York, Jan. G.-There Is n
small reason for regret at the shado1
cast over our friendly relations wit
Great Britain through our attitude O.
the Panama canal question. We ar
about 20 celebrate one hundred year
OF peace with Great Britain, and thi
pc!Mt Of irritation should be adjusted
in some way before that event begins
Not everybody is ware that Grea
Britain is by far Jul best customer
She and her colonies take vastly more
of our products than any other nation
Nearly Cne-half Of our exports g
thence and w 0ne.quarter OF our in
ports come from the British empire
The commercial relations between
the two nations are enormously valua
bic to each. TO IL large degree thu
two countries are interdependent, ant
whatever seriously hurts the n mus
inevitably affect the other. There are
hundreds of millions of British CAPT
tai in the United States, which VIZ
could not drive away without injury
to ourselves. No two nations have
more in common than the United
States and Great Britain as to tradi
tions. language, government, com
merce, industry. etc. True we are
rivals. But that rivalry should be OF
the best sort; and our contests should
be as between builders and not as be.
tween d%estroyers. Both countries
have been conspicuous leaders in the
efforts towards abolishing war; and
yet in spite of all of these efforts, and
in spite OF the mass of public opinion
. small noisy minority persists in
creating friction and misunderstood.
ing between the two most powerful
nations or the globe. Such a state of
affairs SENS utter foolishness in the
eyes Of other nations; and for this
country 10 c~onsptcuously support high
ideals in international conduct and
then net to strictly live up to the
Panama treaty obligations, the terms
Of which at least it would appear call
for arbitration or some other mode of
djustment, is downright dishonesty.
1t is, moreover, unquestionably dis
approved by the great mass of public
opinion in America. Our government
cannot afford to descend to practices
which it's subjects could not conscien.
tiously indorse. If the country really
desires to denounce the treaty with
Great ~Britain-an1 that is highly
doubtful-let us do so in a legitimate
fashion, and stand prepared to give
Great Britain some equivalent for SUR
rendering advantages to us which we
cannot give back On the surface
there is something in the contention
that having built the canal we should
have the right to favcr American yes.
sells by free tolls. But we bartered
this right away in consideration OF
GlHat Britain surrendeling certain
rights and privileges; SO, if we are
to favor American vessels, some 9TH
err form Of compensation must be
adopted. At present there are only a
few lines Of American ships likely to
use canal, and these all happen to he
in prosperous condition. Should cir
cumstances warrant the extension of
some favor to American ships, posi-
bly, no bettec. expedient can be found
than that of compensation in the form
of a postal subsidy in consideration
that such vessels should. conform to
our governments requirements such
as great speed as mail carriers and
also to be subject to he taken for use,
at appraised value in case of war.
Whatever may be done to satisfy the
just claims of American shipowners,
our treaties with foreign nations
should be regarded as solemn obliga-
lions. We expect other countries to
stand by their agreements, and we
must do likewise; otherwise %inrerna-
tional comfy will be impossible: and
We will drive England and Germany
into some sort of "entente cordiale'
against the United States, especially
with visions before them of our Mon
roe Doctrine, which Europe generally
dislikes. The drift in that direction is
already un2leasantly suggestive.
The New Year opens with good rea-
sons for hOpefulncss. Commercial
and financial conditions in the United
States arc much more satisfactory
than a year ago. For over a year all
business transactions have been IN.
Quoted upon a rigidly consecutive
basis. There has been no O~verproduc-
ton by our mills, and no overbuying
by cur merchants. Conservatism has
dominated everywhere. Liquidation
has eliminated weak spots, and finan-
cial conditions have been strengthen
ed by steady contraction and a closer
safeguarding of credit operations. The
steel industry has ben unduly re-
pressed, not by Over-production, but
by lack of orders due to grave uncer-
tainties, which promise to gradually
disappear. These uncertainties relate
chiefly to the inability Of the railroads
to finance new requirements and to the
reaction in real estate, which is the
orNy branch of business in which
there was serious overexpansion in
1913. The contraction in steel is alto
gether too severe to last. The textile
trades r in better condition than
anticipated. The new tariff has not
as yet proved a serious check, al
though it's full effects have yet to be
seen. Nevertheless, American manu-
facturers have shown energetic readi-
ness in meeting new conditions, and
thus far the arrival" Of foreign cottons
and wOolens have not been such as to
seriously threaten American monufoc-
lures The failures this week in retail
dry goods circles were not significant,
The retail trade as a wholo tho,,rh