Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1915-05-19
Wednesday, May 10, 1915.
Uncle Sans Defence.

For those who eat, drink and sleep
in financial attitudes and processes
there is strong hope and confidence in
the :Lusitania outcome, because We
are in a position where foreign ex-
changes are in our favor. In other
words, our preparedness" lies in
command Of the food supplies and
munitions Of war, while the facilities
OF our banking system have hardly
been touched. The allies look to the
United States for credit and supplies
and we can furnish them for our own
protection.
The Monday morning edition Of the
Boston News Bureau has this to say:
The question foremost before the
American people is how to defend our
position in holding the Germans to
strict accountability without interfer-
ing with the supplies Of those who
would naturally then be our allies.
The answer is simply, the United
States is in no position to fight with
men or rifles nor are our men or arms
needed at the present time in the
European conflict.
The strength of Germany today is
in her isolation and ability to fight
the defensive battle with her own men
on her own soil and her own re-
sources The strength of the allies
is in their ability to command sup
plies, arms and credit over the globe.
The great danger with the allies
is the possibility of weakness in COM
munications, both as respects sup
plies and finance.
Should Germany elect to force the
United States upon the side of the al
lies, she would throw into the scale
the financial resources of America,
which would instantly weaken her
own credit at home by the preponder-
ating power thrown against her and
would enhearten several nations now
fighting against her whose greatest
weakness is in the position of their
supplies and their financial means.
There is only one way for America
to accept any challenge from Germany
and that is with votes for billions Of
credit to go where it is most needed in
Europe. 1t is immaterial to America
at war whether she gives a billion to
Russia, who was her friend forty
years ago, or to France, her friend
more than a hundred years ago. or to
Great Britain. The finance opposing
Germany is today unit. That unit
would be enormously increased if the
relations between the United States
and Germany were severed.
People who do not think in financial
terms are disturbed over the inability
of the United States to Immediately
command means for defence. But in
the present situation we hold the keys
for the largest defence. We are not
only the base for war supplies outside
of Germany but soon will be. with
war profits and war orders, the larg-
est ina Sinable base Of credit supplies.
plies.
The United States at war can not
only accelerate in very many ways
the munitions now going forward but
can open the government arsenals and
armories now practically closed and
almost instantly augment the machin-
cry at the base Of war supplies.
The United States would indeed be
committing a foolishness to enter into
any arrangements that aided Germany
to interrupt the supplies Of the allies.
But what most people do not see and
what Germany cannot fail to see is
that at this juncture an invitation
from Germany to the United States
to enter the field is much more seri-
Gus matter for Germany than would
be an invitation from Germany to
Italy and Roumania combined.
One Of the ablest bankers in this
country says: IF Germany can
frighten the United States by a trans
Atlantic submarine warfare we de-
serve to be frightened: if we permit
our defence to interfere with the de-
fences of others we had better think
before we commit suicide; but if it
comes right down to business it is not
our navy yards and arsenals that will
do the work but the credits we can
vote by the billion.
France today would undoubtedly
like to borrow half billion at per
cent. in the United States. If we
had to go to war, I think that she
might get a billion here at per cent
very quickly and get it direct from
Uncle Sans Treasury"