Imperial Valley press., 1916-12-06
AN EMBARGO ON MONEY.

involve the United States in international complications
from which might be able to extrcae itself in de-
cades and then scarcely with credit to It's wisdom or ma
tonal honor tireess resourceful and shfy Fooled
n attempt they ready with another II their
schemes are rendered ridiculous pitlfus by exposure
III particular, they take to conspiring with renewed
energy along another line They have endeavored to IN
duce the Washington government to purchase the IN
termed merchantmen of belgerent that other beg
erents might be injured offended and rritated They
have endeavored induce the ashlngton government
To aid one beligeren in forcing the blockade established
by anothr in violation of neutrality and OF the simplest
elements of international law They have endeavored to
commit the Washington government to approval OF con-
donement Of piracy and wanon destruction OF neutral
persons and property the high seas. They have en-
eavored induce the Washington government to inter
diet disregard of international comfy and the appeal
Of humanity, the expcstation Of foodstuffs.
And now they are working nsdiousy to induce the
Washington government through the medium of the Fed
era Reserve Board to place embargo on loans to the
Allied nations Thus far they have failed in all OF their
plans enange the United States in policies certain to
result in future international difficulties and in all prob
ability they will continue to fail in then for at best their
plots shallow to the point OF ahsurdty Never theess
the nature Of their Vaccinations indicates Enthusiastically
he command Of of intrigue that the people OF
United States in self protection in duty bound to
reckon with.
1t seems incredible that the Federal Reserve Board
n view of all the circumstances should have listened to
the Mschiaveian whisper that inspired the warning Of
that body to the financial instructions Of the country tic
Of foreign governments involving long term obgation
No matter how different in FORM the suggestion that
expresses itself Is IN Identical with that behind
every plot referred to having been cOncocted with the
principal object of bringing the United States its govern
ent and its people, into worldwide and just disfavor and
0isrepue. What could be reprehensve than that the
financial institutions Of the United States which, in the
past years have amassed tremendous wealth through
the msfortunes OF the Allied nations, should suddenly
and without refuse to extend further the credit and
he accommodation that have always been extended to
q
would be ceran than action of this kind to Justify
the distrust which, report declares is already
porOned out, large section of the globe to the
great transatlantic republic
Specious reasons without number may be found for
The statement issued by the Federal Reserve Board 1t
only necessary that the first a1fu insinuation
The whispering consprator should be received in order
that other hints equally plausible should pile in top
cf it. The board perhaps not quite of itself at the
beginning, must of course find for eXtraOr
nary and it says that Sin making this state
en it desires to discam intention of discussing the
finances Of reecting upon the financial stability Of any
nation but wishes it understood that seeks to deal only
with general principles which affect ali alike
The trouble with this is that it is exactly the cous,
taken by bank, by any money lender that is about
not to question the stability Of the woud-be borrower
but to show how impossible is accommodate him. The
bank any money lender may of course lay down gen
ara principles This is customary Money may be tight
the condition of business may be unfavorable or the
crops not be coming to expectations there may
be other and unexpected obstacles All of these
to the thing In the present instance them
or 10 the netnods from which they spring IS 1ar beneath
The expectation of the people of the county with regard
TO the federal reserve system The expectation rather
Of monetary organization commensurate in scope DOW
and dignity with the national treasury in possession
less of the disposition than of the ability meet great
emergencies in big way The public will be sorry to find
dealing with world question in finance from the view
point of the local banker.
1t is hardly conceivable that the gentlemen engaged
in the administration Of the federal system dscov
cred for themselves the numerous possible pitfalls re-
ferred to in their statement the making of foreign
loans These, apparently have been discovered for
them by the designing persons who only yesterday
finding alarming shortages in the United States
oodstuf supply, and constrained to draw the con-
LLcta fnlda