TaÌˆgliches Cincinnatier volksblatt. [volume] (Cincinnati [Ohio]) 1885-1919, 1915-05-19

'a'oii tlriS Ie a. Pitrvht no inuica'
tions that We shau receive any assist-
ance from that quarter, such as va
should have the right to expect in nor
nal circumstances. Consequently II
behooves us to take special measures TO
protect our gold position, especially ~
owing to tile scarcity OF bills and the
excess, more or less artificial, OF floating
capital the condition Of the money
market is wholly abnormal.
"ln some quarters the opinion Is
strongly held that the most effective
means of restoring the American ex,
change would be TO create a credit on
the spot in New York. In support %
this view II may be pointed out that
snch an operation, being more direct,
would probably lie more effective than
the raising of money rates here above
those in New York, for the object OF
the latter process is TO attract credit
from the Other side. development
which, though IL would tend TO stop the
effux OF gold, seems hardly logical In
view of the plethora of credits here.
Only Resource to f loat l. n.
Moreover, as such credits would be
difficult to employ, this process might
couccivably only increase the difficulties
at later stage. Both the German aud
The French governments have tloated
loans in the United States, and there
would be certain distinct advantages IN
the British government following their
example, especially as the French issue
has proved a distinct success.
Americans would no doubt be glad L
an opportunity We're afforded to them.
Monetary conditions in New York are
favorable for borrowing operations, and
ii has been suggested that considerable
amount OF British two year treasury
bills could be issued there at, say, 10
Az per cent, o rate which would com.
pare not unfavorably with that obtained
here for much shorter maturities.
This aspect OF the question OF restor.
ing the American exchange has distinct
political and economic advantages TO
recommend 1t which it would be very un.
wise to overlook"
Not only the problem Of paying pres.
cnt bills by borrowing from her creditors
Ii pressing Great britain, but the further
problem oil later developments profit.
able trade Whereby she may repay the
loans is receiving consideration. Natural
ly the expectation Of Great Britain is to
acquire. il she can Germany's trade. On
this question and the problems which II
presents The Engineer, one Of the most
authoritative English technical and in
dustriAl journals, speaks as follows;
German Competition Must
Be Crushed.
after the Sapolconic wars Britain
stood supreme. She became the manu-.
featuring country par excellence of the
werld, and all tho nations OF the earth
bowed TO her prestige. How things have
changed since thenl Today Germany
has mouopolized certain branches OF
manufacture. Lectricity and chemistry
are 40 longer the exclusive possessions
NJ Great Britain. They have slipped out
OF our fat and prosperous fingers and
are firmly clu,ched and securely held By
the Germans.
I'VE who were formerly the traders
o. the world are meeting everywhere 10
day the successful competition Of Ger
many whose commercial travellers are
beating Us at our own game and bn.
for the present war were bidding fair -
oust rs al the world over. As mater
a fact, until the war broke out Ger
many was peacefully eonquering the
world II she Ia now thrown back she
will have her statesmen 10 thank for
the ruin.
"But viii she be ruinedl Assuming
that she will be utterly crushed. are sc
- sure that she will lose her place in
the industries and markets OF the world
Do not let us deceive ourselves. German
scientific cniinence is not the result
Of an accident: II IL not a bubble 20 hr
pricked. II is a real thing, the result OF
real qualities, Of persevering labor, in.
iustry and application, and Of peculiar
and Unconditional energy.
German suprc Earned.
"The Germans have worked ever since |
they have been nation. In Germany an
man did not mean scholar: |
i meant man whose mind had been
formed and trained for the higher walks
oI life. While the intellectual classes
were trained in universities, the laboring |
,lasses were trained in another uniyer
sity-a university Of life called the army /
and thus by this training, subsequently |
and specialized, but al.
ways arduous, the whole nation WAS
Knit together. or, more correctly speak
ng. welded into one efficient national |
taught to defend itself and to
,onquer the world.
Such are the people we are mp
,gainst The more they are crushed the |
isrder will they work, the more will
hey combine to coordinate all things