The weekly tribune and the Cape County herald. (Cape Girardeau, Mo.) 1914-1918, 1915-07-23
ENGLAND BROKE, :
SAYSCAPlTALIST
FROM ST. LOUIS
Hermsn stifel, Here Declares
Great Britain is About to
Bankrupt Americans.
SAYS BORROWED MONEY
is WITHOUT SECURITY
Man Familiar to Wall Street,
Asserts Germany Will Win
Struggle.

Herman Stifel, st. Louis capital
list who is identified with the big fl
nancial interests of Wall Street in
New York, was in this city yesterday
enroute to his home from the South.
Mr.. Stifel, who is in close touch with
the financial conditions of the Euro
pean countries, stated to The Tribune
last night shat England has been ruin
ed financially by the war.
"Great Britain has financed each of
her allies in their campaign against
Germany and Austria" said Mr.. Stffel,
"and the strain has made England al
most bankrupt. 1t is now issuing
three month notes which are virtually
without any security.
"The bulk of Great Britain's loans
have been made in this country and
if England and her allies lose, some
of the biggest financiers in New York
and other cities Of the United States
are going to DE forced into bankruptcy
"Of course if Great Britain should
win her struggle, she would be able to
meet her obligations through the in
demnity she would impose, but have
come to conclusion that she is certain
to lose. This is the view taken by
capitalists who have been helping
England to carry on The war.
Americans who have been furnish
ing the Allies with money to carry on
the war are taking long risks. Eng
land occupies different position to
Germany. In Germany the govern
ment owns the railroads, the mines,
the lakes and many large industries.
These would be considered legitimate
securities for loans. But in England
the conditions are virtually as they
are in the United States. II she could
secure her loans with the railroads and
other valuable property, such as be-
long to the German Government, she
could get money enough to continue
the campaign against Germany for an
indefinite length of time.
England is now financing Russia,
France, Italy, Serbia and will have to
take care of any other ally that might
join the forces against Germany and
her aids. The money in Germany is
remaining in that country. The people
and the Government are cooperating.
While it may be true that little is COM
ing into Germany and Austria, it must
not be forgotten that nothing is going
out
"They are feeding and clothing
themselves; their ammunition is not
being manufactured in foreign lands,
necessitating an enormous outlay of
money.
"The United Statse is the backbone
of England. We furnish her with am
munition and credit. If this country
were to discontinue the shipment of
arms and ammunition, the war would
not last long. And the big money men
are beginning to realize what confronts
them. They have invested such enor-
nous sums that they are gambling
now to get back what they have al
ready put in.
"The task undertaken by England
would bankrupt any nation in the
world. If she had only her own part
to take care of, she could have car
ried this well for long, long time,
but when she attempted to finance her
allies, she undertook titanic task. 1t
is now a question of how long Ameri-
cans will continue to give England
money and accepting worthless paper.
"And every cent of money invested
IN this war is burned up. If it was for
the purpose of investment, the loans
to England would be safe. But it is
SIS, 100000 every day, to say nothing
of the men it sacrifices, that is being
used to keep these weapons of destrue-
tion busy. This, if continued long
enough, would bankrupt the world. So
long as money is preserved by invest
ment, it is never totally lost, but when
it is used to kindie fires and destroy
cities and life, it is worse than lost.
England today is borrowing money i'll
The United States to burn up in En-
rope We are loaning Great Britain
the money t. buy arms and ammuni-
ton over here. The manufacturer IS
getting his money and the factory
LANDS are being paid, but the finan-
ciers who are keeping the mills of
slaughter running, is riding fer fall.
The effect of the war will be felt
for many years to come. Just think of
the calamity it was to the United
States when the earthquake shattered
San Francisco. and the depression
caused by the big Chicago fire. These