Fergus County Democrat., 1916-01-06


continue for months to come.
Y! when there is possible danger
ahead, the locomotive engineer is di-
rected by his rules, formal instruc-
tiOns and signs to proceed with eau
tion and sometimes to stop, look and
listen. We may draw an analogy. l
would offer words Of caution. We
are proceeding at a rapid pace. There
is great expansion at present. fear
there is great initiation. Some of the
circumstances surrounding the finan-
cial and industrial world are peculiar
and not justified. There will be jars
and jolts when eyes are opened and
things become normal. We ought to
stop, ponder, reason. We shall be all
the better for it. Legitimate enter
prise and progress will be benefited
II we read all the signs of the past
and reflect upon the future. What
Of the future? Who can say with any
feeling Of certainty? 1t may be very
dark and desperate. 1t will be thus
In Europe and we in America will feel
the effects to a greater or lesser ex-
tent. The destruction Of billions upon
billions OF property in any country
must necessarily affect in some degree
all other countries. Economic condi-
tions in the United States may and
should be good in the long future with
the usual Interruptions, if we are
fully alive to our opportunities.
II believe the war of Europe will
not be SO long protracted as many, if
not the most Of men, predict This
opinion is based principally upon two
grounds. In the first, it seems appar-
ent that little, if any, benefit to any
helligerent country or to the world at
large can result from the war, except
and unless it be the firm establish
ment of an international tribunal for
the settlement Of all international diff
ferences; one that is universal and
practical and whose DEGREES are en-
forcible; ore that will prevent the pro-
l0ngation of wars in the future. This
can be created. If so, negotiations for
peace and for such results should be
opened at once, and pushed to a con-
clusion.
ef"1f one side or the other should alb
solutely conquer the other side (Which
seems impossible unless the war is
carried to an extent that would leave
the surviving peoples of the present
generation Of all the nations helpless
ana hopeless) there would be no need
nor disposition for an International
tribunal. The leaders of all the ma
tions must realize and appreciate these
facts and are likely to act upon them
soon.
"The other ground for my belief is
that each of the warning nations is
starving for men and money both.
They do not admit it, but the signs
are plenty and convincing. And the
nation that is prolonging the war be-
yond the time when 1t can be reason
ably and honorably discontinued is
slowly but surely committing suicide.
"But whenever the war shall close,
the business of the country will be
confronted with new conditions. The
purchasing power Of the whole world
Will have been very greatly reduced.
Foreign countries who are now buying
our products because compelled, will
withdraw their patronage in a large
measure. Other non-producing coun-
tries will have their financial re-
sources and credits lessened. More
than this, foreign producers, in great
need. will strive more diligently than
even to supply the countries that are
financially able to buy and at prices
based on cheap labor and low cost as
they have q perfect right to do.
sour producers, including our wage
earners, will find themselves in com
fnercial antagonism with the most
perfect and difficult competition ever
experienced unless this shall be pre-.
h- 1nv AI-A IL
and sufficient. This is not a question
Of politics, nor for political parties
% such. It is one of the economics
and OF good business and it affects
Ill the people. It is a question OF
the greatest good to the greatest mum
Der. There should be an effort to
ascertain and establish a line of JUS
tiee and fairness between the producer
and the consumer.
This Is an epoch. Times are Sc
ribus, perhaps critical Financial, com
mefeial and industrial interests of this
country may be firmly established on
an Independent and individual dur
able foundation, but there must be CO
operation between all classes and de
partments. private and public.
I'VE must be prepared for radica,
changes in volume, in prices and in
resources. There is danger of over
production, over-extension of credit
and liabilities, over-confidence. We
have observed this before and we shall
see It again. It is possible the banks
Will over-extend their credits, particu
larly In favor Of foreign interests who
oifet. attractive rates, but they will
take care or that matter for thano
se1veA. We business men should real
lee there is possible danger ahead il
the Business outlook and if we pro
coed With caution, however aggressive
w, VIII have done no harm and We
mAy Hereafter have reason for con
gratulations. We have the creates
country with the greatest opportuni
ties and may properly be hopeful ant
cenfidsnt."