Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1916-01-22
PREPAREDNESS AGAINST WAR AND FIERCE
FOREIGN COMPETITION is URBED BY BURTON
BY THEODORE BURTON.

Probably no question is OF greater
interest to the American people today
than what we are to expect after the
signing OF the treaty of peace which
shall end the frightful war now de-
vastating so much of the remainder of
the world. This contest is SO excep-
tional in its magnitude, in its horrors
and in the numbers OF people en-
gagged that no one can tell with GER
tainty what may ensue after its ter
mination. But certain things seem
probable and to those we should give
proper thought
First of all, in view of the fright
full possibilities of the future, we
should give immediate attention to
the question Of national prepared
ness so that we may be in a position
to defend our borders and our honor
and dignity as a nation under any
and all circumstances. By this l do
not mean that we shall assume a
policy of defiant aggression and pre-
pare for conquest, but rather that
we should be ready for our own
proper defense. For it is possible
that after the termination Of the
war military efficiency and prepared
ness may become the great issue of
the day in all nations. We may hear
less of individual rights and privi-
leges and more of duties and re-
sponsibilities.
| Moreover we must look for the
most radical changes in interna-
tional business and commercial rela-
| lions. The financial resources of the
European nations are already great
ly depleted and by the end of the
war are likely to be exhausted. In
the past a great deal of the capital
which has been expended for the de-
velopment of this country has been
derived from Europe. This capital,
or so much as may be left of it, will
be engaged in repairing the waste
and losses of the war. We must
therefore be prepared to finance de-
velopments in this country with
American capital. Also there will
be sold in this country enormous
quantities of our securities which
hitherto have been held in Europe.
Indeed this very thing has been
going on for several months.
The demands for our pro-
ducts, and therefore our pros
perity, are responsive to the require
ments of war. Our exports of COM
modities not needed for military pur-
poses have experienced a market de-
cline. With the termination of the
war there will be an almost immedi-
ate cessation OF these abnormal de-
mands upon us. We shall then re-
turn to a more level condition of
trade and business life. And with
this we may expect a period of in
dustrial uncertainty. And for this
period l urge that our manufacturers
prepare by the cultivation of new
markets in the less developed sec
tons of the world.
Moreover, after the termination OF
the war the United States will obvi-
ously occupy a more important posi-
: ton in the worlds financial marke,
than ever before. 1t may be said
that with an enormous balance OF
trade in our favor, with huge gold
imports and an immense amount Of
J money such as we now have, we will
: have an abundance of capital. Blu,
as soon as the war ends foreign
: countries will come to our financial
centers seeking loans. We will have
the money SO essential to their re.
Mobilization. The center of the
worlds finance, which once dwelt al
Venice. and later at Amsterdam, ant
then for hundreds of years at Lon
don, will no doubt be transferred Il
, our own shoes to New York CITY
t In all probability rates Of interes
will rise and We shall become tn,
creditor nation of the world. But
: while the demoralized condition,
, which will certainly prevail in Eu
4. lrope after the close of the war will