The daily telegram. [volume] (Clarksburg, W. Va.) 1901-1926, 1916-01-06

some degree, all other countries.
Ecoonmic conditions in the United
States may and should be good in the
long future, with the usual interrupt
tions, IL we are fully alive to our op-
portunities.
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 place. it seems
apparent that little, If any, benefit to
any belligerent country or to the
world at large can result from the
war except and unless 1t be the firm
establishment of an international
Tribunal for the settlement Of all in
ternational differences; one that is
universal and practical; and whose
DEGREES are enforceable; one that will
prevent the prolongation of wars in
the future. This can be created. II
so, negotiations for peace and for such
results should be opened at once and
pushed to a conclusion. There will
never be better time.
IF one side or the other should alb
solutcly 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
and hopeless) there would be no need
nor disposition for an international
tribunal. The leaders of all the ma
lions must realize and appreciate these
facts and are likely to act upon them
soon.
1.-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. Any na-
ton that is prolonging the war be-
You'd the time when it can be reason
ably and honorably discontinued, is
slowly but surely committing suicide
But whenever the war shall close,
the business Of this 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 buy
ing our products, because compelled,
will withdraw their patronage in a
large measure. Other non-producing
countries will find their financial re-
sources and credits lessened. More
than this, foreign producers, in great
need, will strive more diligently than
ever to supply the countries that are
financially able to pay and at prices
based upon cheap labor and low cost
as they have perfect right to do.
"Our producers, including our wage
earners, will find themselves in com.
merclal antagonism with the most
, persistent and difficult competition
. ever experienced, unless this shall be
prevented by laws that are reason
able and sufficient. This is not {
, question Of politics nor for politica
, parties as such. 1t is one Of economic:
! and Of good business and 1t affects al
, the people, 1t Is question Of TIT
! greatest good to the greatest number
There should be an effort to ascertain
, and establish line OF justice and fair
, ness between the producer and tn,
consumer.
!, "This is an epoch. Times are ser
!, ious, perhaps critical. Financial com
merclal and industrial interests Of thi
, country may be firmly established OF
an independent and invulnerabl
, 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 re
sources. There is danger Of over pro
ducton, over extension Of credit an
liabilities, over confidence. We hav
observed this before and we shall Sc
. 1t again. 1t is possible the banks vii
over extend their credits. particuia:l
in favor Of foreign interests who ofe
attractive rates, but they will tax
care Of that matter for themselves
We business men should realize Their
. Is possible danger ahead in the blsi
ness outlook and II we proceed witt
caution, however aggressively, we vii
. have done no harm and we may here
after have reason for congratulatior
! We have the greatest country with III
greatest opportunities and may prop
arlv he hnnafil and confident"