The Bemidji daily pioneer. [volume] (Bemidji, Minn.) 1904-1971, 1915-09-22
HEARST OPPOSES WAR LOAN.

William Randolph Hearst is op-
posing the billion dollar war loan
that James J. Hill and others wish
to make for the Allies. The follow
ing statement of Mr.. Hearst's ap-
pears in the New Orleans Item:
II am going to New York to ,op-
pose the war loan to the battling ma
tions of Europe, and oppose it as
strongly as I know how. do not
believe that such a loan is for the
interest of the country. 1t is plain
ly for the interest and special adj
vantage of some fnanciers who are
not noted for considering the interest
of this country or for considering
anything but their own profit and
benefit.
1T is not for the interest of this
country to become too closely identi-
fled with either side of this Euro
pean conflict. It is not for the in
terest of this country to begin lend
ing money to what may be the losing
side, and then have to lend more
money in the hope of making our
first loans good, and finally become
overwhelmingly involved in what
may become a great financial catas-
trophe. For, remember, we have
not only war in Europe to face, but
eventually possible revolution and
repudiation
1T is not to the interest of this
country to have money tight in this
country. We have had hard times
for long period, and the explana-
ton has been tight money, the bal
ance of trade against us, shipments
of gold abroad and insufficient funds
at home.
"Now, money is becoming plentiful
here. The times are getting better.
Money is seeking investment here
at home. There is money to back
new enterprises, and new enterprises
mean greater employment and better
times for the working people as we'll
as easier times for the employer.
why change all this? Why
send the money abroad that we all
admit we have needed here at home
and that is just beginning to work
it's beneficial results here at home I?
why start movement which
probably will grow, for the gorge
Of the modern Moloch of war is in
satiable, until America is drained of
its much needed gold? Why kill the
goose that lays the golden egg? Or,
If you prefer a more exact metaphor,
why export the golden eggs just as
they are beginning to hatch into
the long-awaited goslings of a. new
prosperity?
"Why sacrifice the interest of this
country for the benefit of Wall
street?
us Wall street so popular through
out the country? Is Wall street so
unsophistieated that we must look
out for ITS INTEREST above our
own interest? Is Wall street so I'M
selfish? Has it so often sacrificed
its own interests in the past that
it, is our duty to sacrifice our indi-
vidual interest for it now?
1T is easy, to understand why GER
tain big banking houses, led by the
able and ambitious young Mr.. Nor
gan, should want to extend this loan
to England. Mr.. Morgan is practic-
ally an Englishman. He is the rep
resentative of England, financially,
in the United States. He has invest
ed his money with the allies and
wants to see his investments guaran-
teed. He is the head of the steel
trust, and the steel trust profits with
every gun and shell furnished fight
ing Europe.
'But why should the American peo-
pie be led by Mr.. Morgan? Why
should the American peoples money
for it is their money that will be
lent-be the golden ring which will
drag them about by the nose in the
wake of Mr.. Morgan's English in
vestments?
''That is the material side of this
question, and there is a moral side
as we'll, which must be considered,
for the American people are q moral
people. They are "a righteous and
religious people; they are God
fearing, peace-lovinE people. Our