The Marietta journal and courier. (Marietta, Ga.) 1909-1918, 1915-10-08

and purposes, the broadening of the
scope of opportunities for the utili-
cation of the great things that ma
ture has so abundantly in store for
us.
Senator Hoke Smith has publish
ed in the New York Herald of SUN
day Oct 3rd an exhaustive article
upon England's arbitrary and high
handed domination of Oceanic COM
merce. 1t is the most elobrate elu-
cidation of this supremely important
subject that / have ever read. Tie
paper itself is the product of pro-
found thought and careful research.
1t easily places Senator Smith in
the vanguard of international stu
dents and contributors upon inter-
national law. The truth of the bus
mess is, students of International
questions do not take issue with the
Senator in the premises he so logical
ly maintains. The position of Thorn
as Jefferson when he was Secretary
OF State. to Washingtons Admins
tration is identically the same as
that of Senator Smith. The Sena-
tor quotes Mr.. Jefferson's letter to
Mr.. Pinkney who was then Ambas-
sador to Great Britain, which shows
conclusively the perfect similarity
OF the position taken upon the sub
ject to contraband and embargoes
OF Mr.. Jefferson and Senator Smith.
There is no question as to the cor
rectness of Senator Smiths position
and its meaning to the commerce of
this country, especially the south.
is far reaching.
#
The sooner the people begin to
take a detailed or itemized interest
in the affairs of this country the bet
ter it will be for them. The recent
big loan made to the Allies by this
country involving the huge sum of
100000, 900 is an item of too great
significance to escape out notice, and
yet | doubt if any of us took cog
nizance of this mammoth transac-
ton. 1t is claimed that it will be
used only in the United States. The
bonds are to bear five per cent inte-
rest and are to run for five years,
England and France are Jointly
bound as security. 1t is not about
the safety of the security nor about
the money all being spent in this
country that | am calling attention
to this important transaction. If
the borrowers had wanted to take
the money out of this country and
use 1T in the purchase of war NUM-
lions, they could have done so, so
far as the people are concerned, so
little attention did they pay to the
matter. 1t seems to me like one of
the great dangers in a transaction
like this is the concentration of so
much financial power in the hands
OF perhaps, not exceeding five men.
Just think for a moment how this
colossal sum of money taken from
our circulating medium would effect
the price of the products of labor.
There was some little murmerings of
protest that amounted to about as
much as a zephyr in the month of
May. j. P. Morgan e Syndicate
went arrogantly ahead and made the
loan. Some good men in position to
know say that the loan will be dele
ferrous to the best interests of this
country. Other equally we'll inform
ed authorities say that it will not.
The point l am endeavoring to make
IS, that there ought to be some kind
OF safety valve so that the great body
OF people who constitute the red
blood of our currency can be heard
from before such great transactions
are materialized.
w. NJ. II.