davidaulloa/AmericanStories huggingface dataset:
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-18

Those who discuss the effects of
peace upon American industry and
disagree 50 widely ought first to de-
fine what they are talking about.
One set of effects will be immediate.
Another set will be deferred or ultl-
mate. A distinguished manufacturer
here and an eminent banker there
will be heard to say that our mate
rial welfare is not bound up in the
war. that we have unlimited re-
sources for bringing prosperity TO
mass on our own account and that
the production and distribution Of
goods will proceed on a higher plane
still after the war. All of this is
true in the ultimate sense. The i'm
mediate effects, however, unless steps
are taken to avert them beforehand,
are bound to be of an extremely
troublesome nature. Assuming that
on it's return TO a condition of peace
Europe will want as many goods
from this country as she has re-
ouired in war-an assumption not -
be wholly trusted~.the fact remains
10 be considered that the character
Of the demand will be fundamentally
altered. War is in one sense the
very best customer, and in another
the very worst. It's wants are i'm
nerative: cost is no matter. 1t pro-
vides for its needs far ahead in a
price reckless manner. 1t does not
have TO calculate profit. Its bust
ness is bankrupt from the start
Solvencv Is matter Of technical eX-
pediency. 1t spends gold prodigally
for the goods Of neutrals and floats
paper money at home. The only IA
tai blunder it could make would be
70 underestimate its wants. A mer-
chant buys and sells. War buys,
but never sells. And after mer-
chandise prices all over the world
have been raised by this unlimited
buying to a preposterous level the
whole business suddenly stops. Then
YOU realize what bad customer war
has been. The peace demand does
not begin where the war demand left
off. Bargaining is restored in the
world. Buying is again in the hands
of people who have also to think Of
selling. Profits begin to be calcu-
lated. War had TO have copper,
though it cost dollar pound. The
civilian is in a different case. That
may be TO him a prohibitive price
He can wait. Besides. the govern
ments are likely to be left with great
stores Of merchandise on hand. A
bankrupt stock will be for sale. The
mere belief that prices will not rise
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-18

any further and are very liable to
fall will change the psychology OF
every buyer in the world. The con-
sequences will be interesting to see.
Historians are mainly agreed IN
denouncing as scoundrels those SOW
ereigns who debased the coin Of the
realm by mixing baser metal with sill
yer at the mint. It was the meaneso
imaginable thing to do, for the effect
was TO cheat the poor. The sovereign,
or the government, was in the advan-
tageous position of being able TO
spend the money first. Then II went
into circulation and declined in value.
That is the same as TO say that mer-
chandise priced in the debased money
rose. All this was before the inven-
ton of paper money. Governments
ct war in simple fact debase the
currency by issuing great quantitie;
of paper money. It is thought nee
ossary expedient. The rise in prices
consequent upon the decline in the
purchasing power of the diluted
money entails great hardship on the
poor. and yet you cannot say they
are cheated, for that is not the in
tent The hardships cannot be
helped. The government has the ad-
vantage of spending the money first,
at the maximum of its purchasing
power. As it goes into circulation
prices rise and its purchasing power
falls. But as prices rise the cost Of
war goes up. The government pays
more and more for what it buys with
the money it prints to buy with. The
more money it issues the more it
pays.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-18

The cost of war is rising very fast
In the beginning the cost TO Great
Britain alone was reckoned at
S5.000,000 a day. 1t would not be
fair to compare the present cost with
that figure, for it took the war a good
while to get really under way. Its
proportions expanded enormously. In
September, 1915, Mr.. Asquith an
nounced that the war expenditures of
Great Britain were S17,500,000 a
day. Those of France at the same
time were estimated at s12,000,000 a
dav. Last summer Mr.. McKenna
then Chancellor Of the British Elk
cheauer. said the war was costing
s25,OO0,000 a day. Last week his
successor, Mr.. Bonar Law, said that
for two months it had been costing
Great Britain S2S,5OC,OOO day. and
it is costing France at the present
time $4,000, 900 day. In September,
1915. the cost to Great Britain and
France together was at the rate of
S1O.75O,O00 900 year. It is now run
ming at the rate of Sl7,75O, 100000 a
wear. The increase is about 20 per
cent. If it goes on increasing at that
percentage the cost twelve months
hence would be at the rate of $780,
600, 900, 900 a year for Great Britain
and France combined. A very large
part Of this increase is owing to the
rise in prices.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-18
THE BANK FOR SAVIN1,

n TIE CITY OF NV a.,
$50 Fourth Aysnue, Dscsmo,r,
1eSTH sFMI-ASNCAL DTvlDEg a.
The Board OF Trustees has csshs.
in,ere., dividend for the sir Moan, cf
December Al, 1915. az the rss ., "a a.
AND ONY-HAIF PER CENT. ps 80.
on all sums OF 1900 and uprss ,.,.sr
thereto. and payable on and are . 49, |,
7oth, 1911. TIE dividend vii oe ~
deposi,ors as principal January IN
Deposits made on or before J.-.c u
1917, will draw interest from Icy,
1917. WALTER TRlNBLE. Pre,.-
LEWIS q GAWTRf, o<o'
JAMES KNOWLES, comp'ron"
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-18
THE MUTUAL BAN Ys,

December w s.g ~
Tn. Board 81 Directors nss ~ s<rs
clared semi-annusl diNies.,ss Al as
d,ylaend Of Six PEE Cen, 0s. ~
CAPITA stock q this bank, AZ u r.osr
.uary and. 1917. 20 stockholasSs iiia
az the close Of business Dee
HIGH y. KIRKLASr -
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-18
UNITED STATES GAUGE

The Board Of Directors h. ,srs. ~,
regular semi-annusl dlyidens "a prsssffe'
half per cent t5s on .sly or 81
stock. and a dividend OF 49, Ter ne ~
(2O[s) on the Common s,oS,it 70 te's
months ending December 81, susrsss
ers OF record at the Gloss
December 20, 1915.
Checks will be mailed. 1,sssprsf
ALFRED b POTTERIoS.,
New York. December II, p.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-18

We had been behaving in many
WAYS almost as if war were the nor
nal state of economic existence, and
even where there was a surviving
sense of its abnormality the idea had
begun to flourish that the termina-
ton Of the war would make less diff
ference to US than we had once sup
posed. Trade would not cease. Eu-
rope would have TO be rebuilt. We
should go on doing a tremendous
business, only ir other things. This
idea now fortunately is much the
worse for last weeks experiences.
We have had a peace panic on the
Stock Exchange 1t is a lesson not
to be easily forgotten. Speculation
in war stocks cannot be resumed IN
the former headlong manner. But
what is more, we have been remind
ed that there is in this country no
, economic peace programme. There
are no definite undertakings for the
transition from war to peace. Most
painstaking preparations are being
made in the countries at war, es-
pecially Germany, England and
France. If there is yet time we
should be guilty of gross and unpar-
donable stupidity not to perfect
ways and means Of converting our
industrial resources back to the re-
ouirements of peace, so that all the
industrial capacity released by the
cessation of the wars demand could
be rapidly utilized without that de-
Law and hesitation which spell I'M
employment, reduced purchasing
power among the people and a slump
in the domestic consumption of mer-
chandise.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-18
Monday, December IS, 1916.

Francis W. Hirst, the English
economist, in a cable message to The
Tribune last week, said: Whatever
may be the immediate outcome
everybody feels that things will
never return to the condition they
were in before the German Chancel-
lor broke the ice" He was thinking
IN terms of politics. The same might
he said, however. in terms of finance
The exploitation of securities on the
Unstable basis Of war profits has re-
ceivcd a check from which 1t Will
never fully recover. Though moth
ing should come Of Germany's pro
posal to discuss peace, the possibility
Of peace has taken its place as 4
floating liability in all future calcu-
ations Of the money lender, specu-
lator. investor, manufacturer and
merchant. There has been a fore
taste of the readjustments which
will some time become imperatlvely
and suddenly necessary.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-18

The deepest mine in the world is a
gold mine in Brazil. II is near place
bearing the name Of Villa Nova de
Lima, in the State OF Minas Gerses,
about 800 miles north of Rio de ia
metro. II has been worked, more or
less systematically, for eighty years, is
known as the MORO Vclho and is owned
and operated by an English company.
The combined depth Of the connected
shafts is 5,e24 feet.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-18
A Simple Alternative

There follows very simple alter
native or logical dilemma, to wit:
The working world must develop
organs Of set-gorernment, and so
must cirili=c itself, or else the CEN
tres of government with which we
are familiar must cease TO stand for
the merely passive and inhibitive in
tellect and must come TO excel the
present working centres in enter
prise, in emotional interest and in
intellectual force.
Presented in more concrete terms,
the antithesis runs as follows: West
ern Europe and America must sub
NIT to be made over on the Prus-
sian model, which will entail a sue
cession of wars-or else they must
hasten TO turn their banks, err
changes and nelUs services into re-
sponsible centres Of social enter
prise and social control
In short, we have come to the end
Of government by inhibitive form
ulas. We shall be ruled henceforth
by free combinations aggressive for
the production of the munitions of
life, or else by conscripted combina-
tons mainly absorbed in the pro-
duction Of the munitions Of death.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-18
PROPOSALS
>or1CI-sEALEn PROPOSALS.

he received until IL o'clock December 80.
1919 at the ofice OF the Pennsylvania
Company for assurances on Lives and
Granting Annulties. No. Oh Chestnut
street, Philadelphia. trustee. for the sale 20
II OF as many % the Philadelphia, VIII
tniugton and Baltimore Railroad stock
Trust Certificates as ,76.s70 will purchase
The offerings al the lowest prices not
exceeding par costing In tho aggegate
not more than the amount stated; VIII De
accepted, the parties Offering them ad-
vlsed at once, and payment made January
2, 1917. upon proper assignment OF tho GER
tncates
Proposals should be endorsed. proposals
for the sale OF Philadelphia, Wilmington
and Baltimore Railroad Stock Trust Ger
tihcates' and addressed 10
G. : W. PACKARD. President,
OIL Chestnut street Philhdslph1<
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-18
THE NEW , yo s.Si sSa slSpHecSS @;

dividend Of Sqs on a.ysbls -
Stock has been declared ar. % sise
holders fST q re- record Dsc.mssr q ~ % y
july 2 isi7. A dividend o. "ssssr
ond Preferred stock has heldso
payable January ?. isii I"
record December -. isle IN r@essarf
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-18
Government
by Aggressive
Combinations
BY CHARLES FERGUSON

The greatest misfortune and peril
of American politics lies in our fail
ure to grasp a certain principle OF
social dynamics that is the capital
fact Of the age.
This fact is that government by
impersonal rules has everywhere
yielded and given way TO government:
by aggressive combinations of inter
ested persons. And the sociological
principle that explains this fact is
the axiom-true and irrefragible as
a Euclidean formula-that rights
written in characters of restraint
can never compete on equal term
with rights that move in the lines Of
desire and enterprise.
This social axiom is bedded deep
in literature and philosophy. 1t is
the DdSlS OF lut lnlHklHS VI bllIildl-
uel Kant as expressed in his
"Critique of Pure Reason and
"Critique Of the Practical Reason
1t sanctions the contrast between Old
Testament law. with its hard exter-
nal ordinances, and that interior and
recreative law CT the New Testa-
ment which dissolved and swep.
aside the rigid pandects Of the Medi-
terranean world.
Effectual government through con-
stitutions framed by dead men and
amplified, expounded and enforced
by sworn officials with a merely
fragmentary responsibility and no
special concern about the ultimate
practical effect, in terms of life and
health. of the things they are doing
-effectual government Of that sort
has become an impossibility since the
rise of the Great Industry and the
necessitated mutualities Of the mod
ern business system.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-18
Trust and Surety COMPANIES

The name Of the new Russian town
and ice-free port at the terminus Of
the Thurman Railway on the White
Sea has been changed from Port MUIR
man to Romanof on Thurman.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-18
When Great Combines Arose


: The point is that the constitution
al combinations of our eighteenth
century dreams were barely strong
enough to overtop and subdue the
feeble kind Of extra-legal social COM
Neutrality-suspicious., cultural, polti-
cal or commercial-that appeared in
the democratic countries Of Europe
and America before the development
of the modern grand-scale productive
process. The scruples of conscience
and the general good intentions of
oath-bound officials sufficed for few
decades because the strain was not
severe. But from the moment that
great combinations arose in which
men were bound together, not TO
maintain theory, but to accomplish
a high-spir'ted and intensely inter
esting OBJECTIVE purpose-it should
have been plain to social science that
constitutionalism as our grandfath-
ers conceived it could not survive.
II is not a question Of the wicked
ness or sefshness of industrial and
financial combinations. The thing to
he understood is that-all moral
judgments aside-combinations Of
brain and will that work affirmative
ly and with unfagging interestedness
are, and in the nature of things must
be, stronger than official combina-
tons that cohere only in cautious
prohibitions and common scruples.
To those who comprehend this
truth 1t will be quite apparent that
we have entered into a new era in
which the most fundamental social
changes are bound to take place.
Some, indeed, there may still be who
are able to imagine the dissolution
Of the great combinations Of finance,
industry and trade. But to most Of
us who live in the thick Of the world
as it is, it is plain that the huge
working combinations arc here to
stay and that the kind OF govern
ment that We are familiar with is
not strong enough to socialize or civ
iize the working world.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-18

THE PIERCE-ARROw No,vnss =. psss :
A dividend has been dssi N his tcer.s
Tor ,he per,od ron pseemess ~. "a i.eS
~ issue q preferred s,cD 90 Il
December 1is 1915. 'o,s,. 70 sc11n. "a
N r.cofd Al the cle.s ~ snsissss 49,
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-18

Export OF matches from Denmark
has been prohibited.
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-18
Phelps Dodge
BabcOck & Wilcox
Associated Dry Goods
FREDERIC \. HATCH & co

rhen, srose $40 % sroao ST. New foo
Trl,n. is.,ghoas 10 Dos'on and fAa.sdsI'hi'
New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-18

any further and are very liable to
fall will change the psychology OF
every buyer in the world. The con
sequences will be interesting to see.
Tonopah daily bonanza. [volume] (Tonopah, Nev.) 1906-1929, 1916-11-17
OLD WOMAN RIDES
BLIND BAGGAGE
ENDURES COLD THAT WOULD
HAVE DISCOURAGED HOBO
ROD TOURIST

When train No "a was leaving at
Millers this morning the crew was
surprised to find clinging to the plat
form of the blind baggage next the
engine a feeble old woman who ad-
mitted that she had been there since
the train left Thorne, some 100 miles
north of Tonopah. Conductor Meek
took the unfortunate inside the chair
car, where she was thawed out and
carried to Tonopah. She knew no
one here and was taken in charge
by Deputy Chief of Police Peck, who
took her uptown to the station
where she remained in front of q
rousing fire and then was supplied
with hearty meal. The stranger
who gave her name as Mrs. Coss
ate with avidity and appeared almos
lfamished. although she protested tina
Tonopah daily bonanza. [volume] (Tonopah, Nev.) 1906-1929, 1916-11-17
GERMANS STRUGGLE
WITHOUT GAINING
SIX SUCCESSIVE WAVES OF
HUMANITY REPELLED BY
FRENCH CANNON
ny Associated PressD

PARIS, Nov. 1.-THE German at
tack on Ablaincourt and Pressoire
on the Somme front yesterday was
an attempt to break through the
French lines over an extent of two
and one-half miles. The attacking
forces consisted Of division and a
half In the morning and a division
and half In the afternoon, the whole
strength being directed against the
two villages.
The divisions were formed Of Sc
lect regiments, chiefly Prussians, oi
whom some were Of the guard, anc
Hanoverians.
Six successive waves swept dowr
upon the villages between 1880 ant
10:45 o'clock In the morning ant
before the afternoon had ended Pres
soire had been attacked IL times
It is reported that in the course O
Tonopah daily bonanza. [volume] (Tonopah, Nev.) 1906-1929, 1916-11-17
(By Associated Press.)


NEW LONDON, Conn, Nov 17-Five lives lost when the
submersbe merchantman Deutschland which left port at
this morning for Bremen rammed and sent to the
Tascott Jr OF the two
conveying After the accident the Deutschland returned to
port.
The collision about mile inside the and
according Deutschland's 'n
minute
The tug sad got in front of the Deutschland the distance
being slight them that the submerbe had chance
avoid accident The of the Deutschland struck the
near lifted well of water sending the
Immediately afterwards the boilers of the
exploded the vessel sinking with all aboard
The Deutschland apparently not seriously damaged and it
said she probably will be ready to sail in few days when
been made Several bow plates bent and rive
loosened the damaged The will
the repairs.
The submarine and tug together comparatively smooth
and when il apparent that the fatally ammed
the jumped Captain Hnch of the Eastern Forwarding
pny life preseryer thrown from the Deutschland
The Deutschland drew out of her pocket at the 80
o'clock this accompanied by the Tscott and
the Cassie She carried for the homeward dash valued
Tonopah daily bonanza. [volume] (Tonopah, Nev.) 1906-1929, 1916-11-17

OF value to the North Star because
our drift on the 1900 is, If remem-
ber right. within 100 feet Of the
Gypsy line.
"Tonopah certainly has a great
future. Much new work has been
started and heavy development is in
progress. With the prospect for the
advance in silver | look for lively
times ahead for this camp. | be-
lieve silver will be selling for 80
cents by the end of the year and that
II will be 81 or more when the war
ends.
Il think Silver Pick is the property
that will put a new Gold1eld on the
map The work that we have done
there proves that ore bodies can
exist west of the Columbia mountain
fault. We have passed through
values exceeding 5000. | am willing
to put myself on record to this fact
We had not only ore in the shaft, but
in the drill hole 45O feet to the west
When we commence to drift ant
crosscut we expect to develop one o
the big mines of Goldfed. leave
hoping to be called back shortly b.
news of big strike either in Tono
pah or Goldfeld, and | do not fee
privileged to say where | expect tn,
lightning to strike"
Tonopah daily bonanza. [volume] (Tonopah, Nev.) 1906-1929, 1916-11-17
OPPOSED TO FORCE
IN SETTLING STRIKES
FEDERATION DEcL ARES AGAINST
WILSON'S TREATMENT OF
INDUSTRIES
my Associated Press.

my Associated Press.)
BALTIMORE, Nov. 1.-THE Ameri-
can Federation of Labor by unani-
nous vote declared against that pro-
vision of President Wilson's legisla-
tive program making illegal any
railroad strike or lockout prior to
Investigations of the merits of the
case" The committee report, which
was adopted, recommended that the
convention take an unequiviocal po-
sition against compulsory institutions
and favor the maintenance~of insti-
tutions and opportunities for free.
DOM"
Tonopah daily bonanza. [volume] (Tonopah, Nev.) 1906-1929, 1916-11-17

CHARLES L.. SLAVlN, the sherlff,
returned from Carson City this morn
ing
she had had plenty to eat. She was
heavily dressed, but her clothing
was not of the warmest or calculated
for the exposure of an open air
voyage. Mrs. Coss told several stories
that varied in detail and il is sup
posed that she was not wholly re-
sponsible. To the trainmen she said
that she had come from Reno and
to the police she explained that she
was from Fallon and had walked
across country to Sodaville. Her age
she gave as AZ, but her looks indi-
Gated she was fully so years. Her
intention was to continue on to
Needles, Cal, beating her way
through. She expressed desire to
reach Goldfield and was told that she
would be sent forward this afternoon
by one of the stage lines If she
called back at the police station.
Nothing could be learned about her
family except that she said she had
two widowed sisters. one in Mime
sofa and the other in Wisconsin, one
of whom was in an institution.
Tonopah daily bonanza. [volume] (Tonopah, Nev.) 1906-1929, 1916-11-17
BIG BRITISH GAINS
IN ANCRE VALLEY

Our success on the Ancre," said
General Maurice, means that we are
not going to give the enemy much
rest this winter. 1t means that when
ever weather conditions permit we
are going to attack and subject the
enemy to unceasing pressure during
the coming months. so as to prevent
as far as possible the Germans from
establishing themselves in new posi-
tions.
"All the attempts OF the enemy to
minimize our success will not explain
away the fact that in three days the
British troops, by the capture of
Beaumont and st. Pierre Divion and
the semi-circular ridge they d0mi-
mated, have gained an important
strategical advantage. This ridge
formed salient jutting into our lines
from the northern bank of the Ancre.
Thus the enemy was able to direct
the fire of his artillery massed be-
hind 1t.
Our troops advanced from below.
through stick white chalk and net
work of defenses. They gained the
ridge and forced the enemy back
.across the valley to the hill AS a
result we dominate the situation in
this territory and are consolidating
the positions for further activities"
Tonopah daily bonanza. [volume] (Tonopah, Nev.) 1906-1929, 1916-11-17
$5,OOO,OOO TO
GO TO CHINA

loan of $3O,000,00 with an advance
of $4,O00,000 to be made through the
state department This deal never
was consummated. China then turned
to Japan, completing loan Of
$5,000,0 900.
This loan caused great bitterness
in China and nearly precipitated q
ministerial crisis. Another Japanese
loan of $15,0O0,OOO was just about to
be concluded when Japan's demand
because of the clash of troops at
Cheng Chiatung broke of the nego-
tiations.
On September 21, Finance Minister
Chen Chin Tao announced China's
desire to arrange a s50,000.00O loan
through the quintiple group Of Ameri-
can, English, French, Russian and
Japanese bankers, but nothing came
Of it. Two weeks later came the
announcement that the Siems-Cary
company Of st. Paul had secured a
concession from China to build about
1900 miles of railroad and reconstruct
part of the Grand canal at a cost of
about s6O.OOO.O0O.
| Mr.. Reynolds said that his bank
had the present loan under considera-
ton during several months Of ex.
haustive investigation of the re-
sources and credit OF China.