South Bend news-times. (South Bend, Ind.) 1913-1938, 1916-12-18
PRESIDENT WILL
TAKE NO ACTION
Banker Believes Executive
viii Keep Out of NegOtia-
tons Unless Urged.
Obs Henry cIews)

Obs Henry Clews.)
NEW YORK. Dec. 18.-I doubt
very much 90 Pres't Wilson viii take
part In "a peace proposition at this
time without It's being I'm accord with
both sides As a neutral nation IL
is obvious and almost mandatory
that that should be- his aLltude,
hence the president is likely 90 wait
before taking any serious action in
the matter. The position that -
taken by the allies viii doubtless de-
eide the president : action. We must
not expect any pronounced position
meanwhile. The Teuton peace pro-
posal. from appearances. IS evident
iy largely for home consumption and
not for the general acceptation OF
the allies, nevertheless II affords
meat for thought it may lead 10
counter-proposa and in that case
Inai conclusions may bring about
fruitful results, especially as all ma
tions and an peoples thereof desire
IeaCe and the stopping OF the great
est brutality iu warfare that the
world has ever experienced. II is
20 he hoped therefore that the peace
proposal may start propaganda
that viii result iu definitely and
permanently stopping the war \
peace movement has TO be started
between the warning nations some
time OF other and it is 10 be hoped
that this is "a sincere intention in
that direction now by Germany and
that permanent peace Will finally
grow out of 10 at au early date But
there is set cause for doubt that the
allies viii fayorably consider it at
TINS juncture.
Cause Reaction.
Peace proposals from Berlin
caused severe reaction ia the
stock market. especially in shares
which aad benefited los the war The
announcement came upon market
already weakened los over-buying.
making the fall all the more precip-
tate A temporary recovery fol-
lowed. after which the market be
came demoralized. Just what would
happen marketwise i'm event Of an
early peace is somewhat difficult TO
positively anticipate III hOstilities
were suspended. armies would GER
tainlv not be disbanded until peace
terms were actually signed by all
the henigerents, a conclusion that
may demand months for accomplish
ment During such "a period war
orders might continue. though pos
s~lIv ON "a diminished scale.
Peace or no peace, Great Britain
will in future buy less munitions
here than formerly because she Is
now prepared 20 produce i'm full for
herself and in part for her allies,
especially with the forthcoming as
sistance from Canada When peace
does come. Europe viii continue 10
buy steel here i'm large quantities for
constructive instead of destructive
purposes. Europe viii also buy our
COPPER. our oil and other raw ma
terials iu large quantities in order TO
nll the voids which now exist, also
40 start present idle industries. EX-
ports OF co,ton alone viii 20 far to-
wards odsetting the loss Of muni-
ton shipments. Moreover, this
country is not as dependent upon
munitiOn orders for prosperity as II
was two years ago. We have sottcn
"a prosperity and a momentum en-
tireiy our own. We are enjoying an
activity derived very largely from
seif-develOpment Imitation has
enormously stimulated home indus
try. and while war profits have un-
doubtedly been the prime cause of
this imitation. still the increased con
sumption of many commodities and
Injuries In the United States can be
attributed 10 home prosperity Even
our export trade is less dependent
than formerly upon mUnition or
ders. which now constitute less than
oue-third of our total exports.
Peace BcncLCial
Peace. when 10 does come. Will
also bring another beneficial offset in
"A revival of imports. the lack OF
which has so profoundly deranged
our foreign trade. Peace and
hasten general return 20 normal
conditions in other respects, and il
would Dee unsafe 20 assume that To
end the war viii be injurious 20
business simply because certain in
dustries which have been enriched
by the worlds misery must readJust
themselves 10 "a peace footing.
Though peace is not vet i'm sight, il
is highly important 20 recognize the
changed attitude of Germany. 10 is
the vital factor in the whole situa-
ton The central powers have not
won any of the great objects for
which they started vet they have
achieved remarkable military sue
Cesses and displayed a marvellous
power of resistance Co the allies.
which the latter will have To take
into consideration. Germany may
never have "a more opportune time
for mailing peace. Both Germany
and the allies should be allowed to
definitely state their position. SO that
the world may learn how far apart
zhez ~4- and what basis remains for