The Washington herald., 1917-09-01
HOLLAND LETTER
The Biggest Daily
Financial News Feature Of
the Counhy's Best Newspapers.

1t does not escape the observation
of any one who finds himself in touch
with the leaders in the financial dis
uict that the inference grows stronger
and stronger with them. so that now
It is almost a conviction that peace ia
much nearer than is commonly be-
lieved to be possible. One reason given
for this view Is the financial and
economic condition of Germany. This
morning one of the men of finance
who was speaking of the possibility
IL not probability, that peace may
come within the next six months, said
that the best answer to the note which
was sent by the Pope to all the ma
I tons to the end that peace might
come is to be found in President Will
sons embargo proclamation. In the
Presidents reply to the Pope's note
and also in this embargo there is as
surance that he and the American
people intend so TO act as to hasten
the day when Germany must sue for
peace.
The embargo is believed in financial
districts to be of greater Importance
at this time than is the equipping of
an army and the sending of it later
in the fall to France. 1t will be a
real embargo. For although in spite
of the utmost care and the strongest
guarantees it is likely that some ex-
ports from neutral nations to Ger
many rejecting either directly or in
directly American exports to those
nations will be made, nevertheless the
embargo will go far towards closing
the door through which Germany has
received so much OF her needed sup
plies. First then is the Presidents
proclamation, declaring that an en-
barge has been established as a war
weapon and then within a day or two
comes the Presidents statement OF
the attitude of the United States so
far as any propositions involving the
beginning of negotiations for peace
are concerned.
1t is assumed that this embargo
proclamation reflects the attitude of
all of the allies who are now battling
with Germany and Austria. Italy
has responded to the peace note by
undertaking a most powerful strug-
gle against Austria. France and
Great Britain have in like manner
given successful battle upon the
western front, and now the United
oNoNNo AiC uooA II
which Germany has received much
needed supplies, and at the same
time is preparing to send an army
that may be as large as a million
men by next spring, with ample
supplies OF all kinds.
what the Railroads Are Doing.
At the time of the civil war an
a VR,n
day from Kentucky and Tennessee
to the east over the Baltimore and
Ohio Railroad, and the swiftness
and efficiency with which this was
done was recognized by the gov
ernment. That. however. was a
trifling incident, large as it ap-
peared at the time, in comparison
with the work which the Railway
War Board is now undertaking.
The board has perfected plans for
the movement of the largest num-
Der of troops at one time ever un-
dertaken in the United States. The
government informed the Railway
War Board that it would be neces-
sary to transport nearly 700, 900 men
to the cantonments which the gov
ernment is preparing for the ma
tional army. There will be no La
Dor Day holiday for the railroad d
managers and for the railroad op-
orators on Monday of next week
because two days later the trans
portation of these troops will be
undertaken by the railroads and
viii be continued for four DAYS. In
that time not less than 200, 900 men
viii be entrained and transported
to the allotted cantonments. A
week later the railroads will be
called upon to transport another
army approximating 100000 men.
and when this army has been moved
to the training camps the railroads
must again be prepared to trans
port early in October at least 2oO.-
900 more.
This movement OF a great army of
10000 men must be in progress with
out interfering with the transporta-
ton OF supplies that are needed by
the government and as far as DOS
sible commodities of which the in
dustries of the United States stand in
need. 1t is to be a wonderful mobi-
lization of railroad ability and rail-
road capacity and would be impos-
sible were IL not for the fact that
Fairfax Harrison. president of the
Southern Railroad; Howard Elliott,
chairman of the Northern Pacific;
Hale Holden. president of the Bur
lington: Julius Kruttschnaitt, chair
man of the Southern Pacific Com
pany, and Samuel Rea, president of
the Pennsylvania Railroad Company,
have so thoroughly utilized their long
experience and ability in railroad
management as to make 1t possible