Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1915-06-17
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Convention
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one big nation in the world that ha
not fully comprehended her interna
tional responsibilities. 1t has not on
ly a complex citizenship, but man:
complex personalities. Using himsel
as an illustration, he said that hi
father was born in Germany OF Eng
lish ancestry, while his mother wa!
born in Illinois OF French and German
parents, while the speaker himsei
was born in Canada. In regard t
the present war he had but one wish
that right, and not might, my pre-
vail. In the question Of what is right
opinions may differ, but they diffe!
only because they are opinions. II
all the facts were known, and al
knew them as facts, and were unbias
ed and without prejudice, then al
would think approximately alike.
Study in Retrospect.
clusion," said the speaker, that oc
curences studied in retrospect give a
much more accurate basis for a n
and sound conclusions than when
studied as current things. Fifty
years ago the name of Abraham Lin
coin was reviled and despised, not on
ly in sections of our land, but
more particularly in England. To-day
the whole world is united in giving
recognition to the caluc and worth of
the life and character of the rail.
splitter of Illinois. Not only are we
inter-related through blood, but finan-
cially We are forming very close con-
nections with the outside world. AT
the time OF the outbreak Of The Euro
pean war, the principal European ma
tons had investments in this country
amounting approximately to seven
billion dollars. On the other hand,
American investors were holders of
approximately one billion dollars
worth of European securities. This
is due to the fact that Europe has
been giving more than we could pay
for either by giving goods or gold.
SO they accepted our promise to pay
in the forms of obligations such as
bonds and stocks.
LAS a nation we have come up
through the process of development
from a purely agricultural country
with principally a rural population
to a position where we are beginning
to rank as a manufacturing country
with an urban" population predom-
mating. This means that we are util-
izing more of Jul natural products in
the feeding and clothing of the men
and women in the cities, who in turn
are putting brain and Drawn into man.
ufacturing articles of which we are
now producing a surplus. And for
this surplus we must find an outlet.
To Stimulate Trade.
THE Latin-American republics" he
continued, ARE still agricultural coun-
tries and require much of that which
we Manufacture. In addition to this,
the seasons in South America and in
this country are the rexerse. We are
now going into summer, while they
are going into winter. If proper and
rapid transportation facilities will be
developed, a very large exchange of
commodities due to this condition
should result under the federal re-
serve act, provision having been made
for branch banking in foreign coun-
tries" Mr.. Arnold believes, however,
that a further step in this direction
should be amended SO that any group
Of banks desiring to cooperate with
each other as the. development Of for
eign banking. would be permitted to
do so. BY the inauguration Of the
federal reserve system, over 700 mil
lion dollars Of reserves have been re.
leasd. This givs a credit expansion
possibility Of between three and four
billions of dollars and will enable the
United States to aid the European ma
ations to do their long financing after
the war is over.
1--WE should in the meantime lend
a helping hand to the W coun-
tries, such as Latin-America and the
Orient continued Mr.. Arnold, "for
the development of their own indus
tries, those Of railroads, street car
lines, docks and wharfs, and public
utilities generally. In other words,
we should do for the newer nations
what Europe in the past has done for
us. This would be laying the founda-
ton on which to ear the structure Of
trade development with those coun.
tries" g.
Makes Final Plea.
In concluding his remarks, Mr.. Ar
mold made a final plea. The Euro
pean nations have demonstrated to
the world the patriotism of war;" he
said.
"They have laid aside their social,
political and religious differences,
and all have united as one man III
defense of their home lands. Presi-
dent Wilson made the statement that
when peace will be as handsome as
war, there will be no more war. And
this is the thought he had in mind. It
is a handsome thing to see a nation
united even if it be brought about by
the spirit of war. However, it is a
much more handsome thing for a ma
ton to be united under the patriot
ism Of peace. We in this country Of
ours, as loyal American citizens, in
thi slime of testing, should forget our
differences of blood, level our social
distinctions, bury our political differ
ences and rise up and stand shoulder
to shoulder as one man-we hope not
in the defense of, the nation, but in
demonstrating to the world a new
ideal, built upon nothing less than
the fatherhood of God and the broth
erhood Of man."