The Barre daily times. (Barre, Vt.) 1897-1959, 1915-08-17
WEALTH, NOT ARMS,
TO DECIDE
Continued from first page,)

| kNbhtlhu'u iiunl ilfbl phk'J
its effect on the financial conditions OF
this country. Wealth, not arms, would
determine the outcome of the war in his
opinion.
Mr.. Kent was preceded by Frank G..
Rowland, who in a few well chosen words
welcomed the visitors. Rev. Elmer f..
Newell, pastor OF the Methodist church,
offered prayer. Mr.. Rowland told of the
remarkable growth OF Washington coun.
ty, both in population and in money
power, describing Barre 80 years ago with
one bank and deposits totaling but $780,
900 and Barre to-day with four banking
institutions with deposits of $5,000,00O.
In behalf OF the bankers of Barre he well
coined all with pleasure and extended to
them all the good things in the city.
A. II. Chandler OF Bellows Falls re-
sponded to the welcome, saying that he
felt positive that all who had attended
the convention in the Granite city sew
eral years ago remembered that occa
sion and had if possible returned for the
present gathering.
Trade and Commerce was the title
chosen by Mr.. Kent for his address and
perhaps a more fitting subject could not
have been taken at this time because OF
the international controversies now under
way because of this country's CONNER
cial activities with belligerent nations
across the ocean.
The speaker described conditions before |
the outbreak of war, when seemingly ma
tions were bound together by commercial
trade in bonds which were unbreakable.
He described the temporary standstill of
world trade when the war first started |
and said that if such q condition had ex-
lsted in time of peace, world bankruptcy
would have resulted. II was averted in
this instance because of moratoriums de-
clared by the governments, which after
some delay resulted in business being re-
sumed as usual.
The cause Of prices being raised in
this country during the first few weeks
was due to the fact that the United
States could not send shipments of goods [
% England or other countries until it
vas assured that payment would be
Il
Mr.. Kent was in Germany a year ago
his time and he described the fear which
hat country had of its big neighbor,
Russia, Germany, as the world knows, |
ad been preparing for war for 40 years
nd it placed all its hopes of winning by
making drive for Paris, which it hoped
0 capture. Germany tailed in that at {
empt, but had it been successful the war !
'ould undoubtedly have been ended with \
. few weeks, was the opinion ex d
ressed
The result OF the war will show which $
! superior, the vast accumulation of II
Ipplies such as Germany had or the ac- c
of money. England appro
rated s7,000,000,000 the first year and n
a equal amount viii be expended in the Il
ext IL months in all probability.
Especially did Mr.. Kent emphasize the Q
Iet that as neutral nation. our trade d
it'll belligerent nations should have an a.
lutte protection from our government,
n every passenger ship which leaves an 81
merican port there are agents of con. ef
rms going TO Europe to get business ,ne By
me as in normal times. These men e
ould be protected, for if they refused
60, their positions would be given to
hers and in the event that no one could
found 70 accept the positions, our q
ade would cease and factories would
ose down and thousands would be
rown out OF employment !,
The gravity Of the matter OF protect -
2 our exports cannot be over estimated, - -
i'd the New York banker. Our exports W
e not far from being normal, although ~
the present time munitions OF war !,
e being shipped instead OF luxuries. VI VI
A cotton crop is about 10 be gathered =,
d this presents another important w w
oblem 10 be solved, for the mills of
igland are not adequate TO take care lil'
the raw goods imported and this enor, =. ~
Jus crop Of cotton must be disposed of w
newhere II is possible that England,
keep southern planters contented, may
y outright over $40 900 900 worth Of the
'p and keep il stored in this country.
e time is rapidly approaching when
r goods can only be sold for credit If gi,
4 at all, because of the money condi. POI
ms existing abroad. dis
In closing. Mr.. Kent again strongly tm
,ught forth the fact that protection lar
1T be given 10 exports Of this coun- the
:, TO uphold our dignity before the hes
ler nations, 50. that when the time is ly
c we can play an important part in goi
nging order out OF chaos. per
The speaker was made an honorary wa
mber Of the state bankers association not
the close Of his address s