Evening star., 1915-02-22
Financial Stage Approaching.

1T would appear to be q proper time
10 consider the economic pressure
question, for the great war is clearly
coming to its financial stage. And that
is the stage in which it must finally
end. Lloyd George is reported to have
said that victory will go to the nation
that can raise the last million pounds,
and he believes, of course, that that
nation will be England.
subsistence, unqueStionably. is the
arbiter whose decree ends most wars
And there is Strong reason to believe
that il will end this one, for the long
purse is usually found to be more i'm
portant than the big howitzer. If that
is true. and history seems to establish
it. why isn't economic pressure the
international policeman to guard the
world against future wars-at least
from such a stupid and unnecessary
war as the German crown prince prop
erly called this one.
The Hague conventions OF 1899 and
those of 1907 provided no penalties for
infraction. That. together with the
fact that the most important of them
failed to secure as signatories all OF
the nations now at waC, Justify Presi
dent Wilson in failing to protest
against alleged violations. But follow
ing the there will come another
Hague conference, and il will convene
in world so exhausted and desolated
from the nations back of il, an ire
sistible appeal for safeguards adequate
for future protection Now what should
those safeguards be:
1t IS worth while to examine briefly
the reasons why commerce can become
the best safeguard of peace
Cites Roosevelt's Proposal.
There is standing proposal for an
International police force. Col. Roose-
vel: urged tie necessity for such -
force with striking vigor a few weeks
ago. But, after all, isn't this proposal.
stripped. merely militarisn masauerad-
ing under another name. The fighting
armies abroad are composites from differ
cnt coUntrIes-an actual and destructive
international police force. But no gem
lie euphemism can disguise the grim
front OF Mars. And isn't such a force
likely 10 become provocative toward
the very war II is organized to avoid?
War breeds war, as all history shows
The epigram of David Starr Jordan in
speech at the Economic Club in New
York envisaged fact. for it is true. as
he said. that when every one is loaded
some one is going to explode
What is the need anyway in the twen-
rieth century of applying methods that
should have been outworn in the middle
sges2 The force TO apply in modern
times is the compelling and worldwide
touches tie war chest of every country.
So instead OF fighting with bullets why
not fight with the money and credit
that must be behind bullets. This would
OF life and the even more heartbreak-
ing suffering and desolation that come
IN the wake of wars
Take brief survey of the world.
trade. Last year IL amounted TO 5000
oeo, 900 of dollars. OF this the nations
now at war had over half The United
States had 13 per cent for its share
This trade was largely financed
establishment of credit relations
through the stock exchanges of the
world. When the war broke, these eX-
changes closed Instantly business was
affected not merely in the warning ma
rions, but in every country. In the
United States we have had to undergo
and are still undergoing a broad read
5ustment- Despite our natural resources
and wonderful crops we have had q
period of depression in this country
three thousand miles away from the
battieieIds abroad. Here is q cappins
demonstration of the interdependenc'
together in such an infinite network O
relations that no nation is any longel
"a law unto itself.
Punishment Through Trade.
so why shouldn't business-by that
mean the organized life of the world
protect this great new world OF th'
twentieth century that II has so large
ly created. -And isn't the way to do Il
70 provide in future Hague convention:
that the punishment to be imposed OF
nation that breaks its pledge to thu
other nations shall be these:
- a refusal on the part OF the othel
nations to trade with the offending ma
tion.
80 A refusal on the part OF the othe
nations to permit loans to be made o.
credits to- be established within thei
borders by the offending nation
LAS a nnal wo-d IL may be well u
state in view of this sudden outburs
--er national defense, that there Is NJ