New Britain herald., 1916-12-16
Henry Czeus
 Weekly Letter
Especial to the Herald.)

New York, Dec. 16.-I doubt very much if President Wilson will take part in a peace proposition at this time without it's being in accord with both sides. As a neutral nation it is obvious and almost mandatory that that should be his attitude, hence the president is likely to wait before talk ing any serious action in the matter. The position that is taken by the AL lies will doubtless decide the presi- dents action. We must not expect any pronounced position meanwhile. The TeUtOn peace proposal from ap- pearances, is evidently largely for home consumption and not for the general acceptation of the Allies, nev- ertheless it affords meat for thought; it may lead to counter proposals and in that case final conclusions may bring about fruitful results, especially as all nations and all peoples thereof desire peace and the stopping of the greatest brutality ill warfare that the world has ever experienced. It is to be hoped therefore that the peace proposal may start 8 propaganda that will result in definitely and perman- ently stopping the war. A peace movement has to be started between the warning nations some time or other and it is to be hoped that this is a sincere intention in that direction now by Germany and that permanent peace will finally grow out of it at an early date. But there is yet cause for doubt that the Allies will favor ably consider it at this juncture.
 Peace proposals from Berlin caused a severe reaction in the stock market, especially in shares which had bene- fited by the war. The announce- ment came upon a market already weakened by over-buying, making the fall all the more precipitate. A tenn porary recovery followed, after which the market became demoralized. Just what would happen marketwise in event of an early peace is somewhat difficult to positively anticipate. If hostilities were suspended, armies would certainly not be disbanded un- til peace terms were actually signed by all the belligerents a conclusion that may demand months for accom- plishment. During such a period war orders might continue, though pOssi- bly, on a diminished scale. Peace or no peace, Great Britain will in future buy less munitions here than formerly because she is now prepared to pro- duce in full for herself and in part for
 
 coming assistance from Canada. When peace does come Europe will continue to buy steel here in large quantities for constructive instead of destruc- tive purposes. Europe will also buy our copper our oil and other raw ma terials in large quantities in order to fill the voids which now exist, also to start present idle industries. Exports of cotton alone will go far towards offscttine the loss of munition ship ments. Moreover this country Is not as dependent upon intuition orders for prosperity as it was two years ago. We have gotten a prosperity and a momentum entirely our own. We are enjoying an activity derived very largely from self -dovelopmen In f1ation has enormously stimulate home industry, and while war profits have undoubtedly been the prime cause of this imitation, still the in creased consumption of many com mOdities and luxuries in the United States can be attributed to home pros perity. Even our export trade is less dependent than formerly upon muni- ton orders, which now constitute less than half of the increase and little more than one-third of our total eX- ports. Peace, when it does come, will also bring another beneficial offset in a revival of imports, the lack of which has so profoundly deranged our for eign trade. Peace will hasten gen. eral return to normal conditions in other respects, and it would be unsafe to assume that to end the war will be injurious to business simply because certain industries which have been en- riched by the worlds misery must 1,or foot ing.
 Though peace is not yet in sight, it is highly important to recognize the changed attitude of Germany. It IS the vital factor in the whole situation. The Central Powers have not won any of the great objects for which they started yet they have achieved re- markable military successes and dis played a marvellous power of resist ance to the Allies, which the latter will have to take into consideration. Germany may never have more op- perfume time for making peace. Both Germany and the Allies should be al- lowed to definitely state their position, so that the world may learn how far apart they are and what basis re- mains for mediation. In all prob ability the views of both sides may prove so widely conflicting as to make any serious peace movement at this time impossible Nevertheless, the movement is one to which the dic- tates of humanity should give every possible encouragement and avert if possible a continuance of the war even greater savagery than now
 The most difficult problem to be en- effect 2 settlement will be with the Balkan nations.
 So far as the stock market is con- cerned, new stage has probably been