The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-06-14

iV Coiiilutit puslnk VI StOChS OH III
day and the breadth of the buyins
movement denoted both a persuasion
that the negotiations with Germany
were likely to end In an arrangement
OF differences and that In any case the
time was opportune for n resumption
or the processes Of recovery which were
interrupted last month by the shock OF
the Lusitania AFFAIR. As Wall Street rea-
soned. the country had taken its line
OF national policy with the probability
Of a satisfactory issue, but IL the result
should turn out to be contrary to the
country's desire for peace the factors
essentially controlling over values would
continue to work for sustained eco.
monte expansion.
As the Lansing note vas ~analyzed
In he financial district IL was held to
be such in temper and in terms that
Germany could hardly fail to meet the
washington position. On a reduction
OF international relations TO the simplest
facts II did not appear that the Impe-
rial G~overSment. actuated by self-in-
terest, could have any other purpose
than to assist the United States to re-
main neutral.
IL Is true that a campaign OF animosity
against us has been carried on in Ger
many because OF our manufacture and
export or war supplies to the Allies,
while Germany is cut on from access
to the same sources OF supply. This
particular result OF the war has de-
ranged the calculations of the German
miiitarists. and an enormous amount Of
ingenuity has been expended in all
manner of ways to stop our war order
trade. Yet even from the standpoint of
German military policy Germany is
better OF with this trad as 1t is to-day.
conducted within the legitimate rights
OF the citizens of a neutral nation, thar
II our neutral status were changed by
a lack OF German craftsmanship.
A foolish notion has been spread about
n Germany might see advantage in
driving US into a state OF belligerency,
then our Government would
requisition all military supplies for IT,
self. This Is an abeurdlty. as there is
nothing which we could do with our
W fleets and armies should Germany
compel us to become her enemy which
would be anything like 30 effective in
assisting the defeat OF Germany as an
Increase OF war supply exports to the
Allies. In a military sense Germany Is,
TO speak bluntly. better of with arms.
ammunition and other war material 60
ing forward from this country to her
enemies on purchases limited by the
allied buying power n she would be
~ tho oiobs ihiouCIhl TtSouTCSS OF tne
United States were engaged under the
pressure Of patriotic necessity in the
production Of wal material for such ex.
port. So far as the existing conditions
OF the war 70 Germany has made her
bed and must lie on II. Any change
from our status of neutrality toward
Germany TO one of belligerency because
Germany refused to be reasonable would
be for Germany a change for the worse
Bullish Factors 20 he Rejected.
So far as regards Mr.. Bryan there +,
one aspect of his exploits last week
which is wholly good. He is out OF the
Government. where his influence could
never have been exerted otherwise thar
detrimentally in all practical matters.
There is more politics in his surrender
OF office than anything else. and with
the American people politics a always
stopped at tho waters edge. AS he has
chosen to Join issues with the Presi.
dent on a question OF foreign policy
the chances are that he will ind him.
self shorn OF political power as well
The permissible inference from his part
in last weeks record Is that the conduc,
Of national affairs from now on in all
concerns. domestic as well as foreign
will be facilitated In accordance with
Wv VIZ vi NAt INV
His step down n probably out appear,
TO be a rather conclusive sign of thu
progress which Washington has beer
making in bringing the Government back
TO earth.
So regarded. the new phenomena O,
Organism are additional factors fol-
sturdy financial optimism and business
confidence. Moreover. the factors In
this category ave been accruing In
vacant .aaly mel, l.a,,. .-,.
for reflection. Thu restraints which the
uncertainties OF foreign affairs have i'm.
posed prevented finance and pushes
from going on with the work OF improve
ment. but the influences for betterment
Lave been acquiring a vigor which might
well break through restraints. The
highly encouraging signs OF political
constructiveness furnished by the de-
c!sion in the United States Steel suit
have not had even a partial reflection.
Since that decision was rendered there
las been a promising development OF
the first order in the Information vouch-
safed about the agricultural situation
and the promise OF the crops. with an in
dicated total wheat yield Of $50, OOO, 900
bushels.
Meanwhile the basis OF the country's
financial power il persistently strength
ening through continual importatlons Of
!arge amounts or gold. and the position
OF the new world money market AT New
YORK Is being steadily consolidated by
the accumulating foreign trade balance,
which will in the last half OF the year
tttain new records az a result OF the
exports OF tie war supplies which are
being contracted for on a growing scale
The slack OF industry everywhere Is
being taken up and the stimulus OF al
most unbelievable prices for metals I.
making itself felt in an increasing num-
her OF basic lines.