The Birmingham age-herald., 1916-01-18
Financiers Learn Defensive Tactics Will Be Pursued
 for Sometime
GREAT OFFENSIVE
 MAY BE YEAR AWAY
Some Think It May Even Be 1916 Before Allies Are Ready to Start Operations on Ire
 mendOus Scale
By HOLLAND

| New York, January lI.-tSpeclal)- formation has been brought within a few days by men of England who are of good
 authority to some of the international ] financiers which sets forth what is be- | lieved to be the real situation in Great
 Britain. One of the first things re- ported by these visitors is reflected by
 their statement that England is at last beginning to find herself" It is admitted that more than year has been neces- sary for this awakening of England to 1 the emergencies of the war and also more than year to the comprehension Of what is entailed if England, with her allies, is ultimately to triumph.
 l In explaining the meaning that is in the statement England is beginning to find herself" one of the international finaneers who has been in close touch with some of those who are leaders in England and in France said this morn- ing that, first of all, England is begin
 ming to understand what hef real mili- tary strength is and the way in which it can best be nobilized. England be- lieves that her military strength when it is made use of and is well disciplined can match that of Germany in co-opera- tion with her allies.
 In the next place, England is finding herself with respect to her financial and economic resources. She is beginning to understand, this financier said, how she best can mobilize these resources. con- fidently relying upon them on account of their magnitude to furnish her con- tinual strength of this kind no matter how long the war lasts.
 This information is looked upon as Of especial value to American financiers, since if they are right in assuming that it is accurate then it enables these finan- ciers to forecast possible approaches to
 the United States by those who seek financial aid or new credits.
 It has also been reported to these men
 of finance that notwithstanding the fact
 of the departure of the allies from the
 Gallipoh peninsula, which is claimed a
 great victory for Turkey and her allies,
 nevertheless it is known in London that
 the real feeling is one of chagrin and
 grave disappointment that these armies
 were able ao evacuate the peninsula in-
 tact without any damage worth men,
 tioning and without any important losses
 in supplies and ammunition and other
 equipment of war. This retreat and evac- uation, emphasizing, as it did, the failure of the campaign for the capture of Con-
 stantinople, nevertheless is regarded in Great Britain as one of the most inn portant achievements of the war. The evacuation will doubtless become tradi- tional. One of these English authorities spoke of the evacuation and retreat as something to be compared with the mas terly and mysterious retreat of Washing ton with his army from Long Island after the disastrous battle there.
 It was the hope, according to these English authorities, of Germany that the armies upon the peninsula of Gallipoli would be held there as in wise until at last captured or starved out. Instead of
 that, these armies have been trans ferred intact to some other still unknown field, where they are likely to prove of great service. This entire move is looked upon in England as demonstrating the ability, the capacity for strategy and the increased discipline of the English armies.