The Birmingham age-herald., 1916-01-06
JUDGE GARY WARNS
 AGAINST INITIATION
Continued from Page One)

mate enterprise will be benefited if we
 read all the signs, consider the past and
 reflect upon the future.
 | What of the future? Who can say with any feeling of certainty? It may be very dark and desperate. It will be thus | in Europe and we in America will feel the | effects to a greater or lesser extent. The | destruction of billions upon billions of property in any country must necessarily
 affect in some degree, all other coun- l tries. Economic conditions in the United | States may and should be good in the long future, with the usual Interruptions, l if we are fully alive to our opportunities. 1 'I believe the war of Europe will not be | so long protracted as many if not the | most of men, predict. This opinion is based principally upon two grounds: In the first place. it seems apparent that lit- tie if any benefit to any belligerent coun- try to the world at large can result 1 from the war except and unless it be the firm establishment of an international tribunal for the settlement of interna- tional differences, one that is universal and practical and whose decrees are en- forceable one that will prevent the pro- longation of wars in the future. This can be created. If so, negotiations for peace and such results should be opened at once and pushed to a conclusion. There will never be better time.
 of one side or the other should absolutely conquer the other side (which seems impossible unless the war is carried to an extent that would 1 leave the surviving principles of the present generation of all of the nations
 helpless and hopeless) there would be no need nor disposition for an inter national tribunal. The leaders of all the nations must realize and appre- ciate these facts and are likely to act upon them soon.
 STARVING FOR MEN "The other ground for my belief is that each of the warning nations is starving for men and money both. They do not admit it. but the signs are plenty and convincing. Any nation that is prolonging the war beyond the
 time when it can be reasonably and
 honorably discontinued is slowly but
 surely committing suicide.
 But whenever the war shall close the business of the country will be
 confronted with new conditions. The purchasing power of the whole world will have been very greatly reduced Foreign countries who are now buy ing our products because compelled will withdraw their patronage in a leadinS measure. Other nonproducing countries will find their financial re- sources and credits lessened. More than this, foreign producers in great need will strive more diligently than ever to supply the countries who are finan-
 cially able to pay prices based upon cheap labor and low cost, as they have a perfect right to do.
 Our producers, including our wage
 earners, will find themselves in com merical antagonism with the most per sistent and difficult competition ever experienced unless they shall be pre- vented by laws that are reasonable and sufficient This is not a question of politics, nor for political parties as such. It is one of economies and of good business, and it affects all the people. It is question of the great est good to the greatest number. There | should be an effort to ascertain and establish line of justice and fairness between the producer and the con- sumer.
 "This is an epoch. Times are serious, | perhaps critical. Financial, commercial
 and industrial conditions of this coun- | try may be established on an inde- 1 pendent and invulnerable foundation. 1 but there must be cooperation be- | tween all classes and departments, pri- vate and public
 We must be prepared for radical l changes in volume. in prices and re- 1 sources. There is danger of over l production, over-eXtension of credit and 1 lia abilities, over-confdence We have ob- | served this before and we shall see it again. It is possible the banks will l over-eXtend their credits, particularly | in favor of foreign interests who of l fer attractive rates, but they will ! take care of that matter for them
 selves. We business men should real
 ize there is possible danger ahead in
 the business outlook and if we pro-
 ceed with caution, however, aggres
 1 sively, we will have done no harm
 and we may hereafter have reason
 1 for congratulation. We have the great
 l est country with the greatest oppor-
 | tunities and may properly be hope
 1 full and confident"
 | RnT0GR