The Washington herald., 1917-05-25
HOLLAND LETTER
The Biggest Daily
Financial News Feature
Of the country's Best Newspapers.

While the submarine activities will be
continued throughout the summer. and.
possibly, the early fall, resulting In CON-
siderable loss to the ships and eareoes Of
the allies, nevertheless the peril of the
seas caused by the submarines will IN
all probability be greatly diminished
within few months Great Britain IA
persuaded that, with the cooperation Of
the United States, the submarine will be
matched and overmatched and. possibly,
with new and now unsuspected element
OF fightfulness not for the allies, hut for
, those who operate the submarines
There was undoubted Justification for
the very careful statement which was
made few days ago by William L,
Saunders, IN which he intinated that an
apparatus had been perfected whereby
the submarine could be mastered While
| undoubtedly 1t Is the desire OF the pov-
ernment that the details respecting this
apparatus should not, at present, become
known, nevertheless there is no doubt but
that In short time the chief features
OF II VIII inevitably be revealed. not only
make little difference in the result Of
| this amazing kind Of warfare against
the submarines whether the APPARATUS
| is recognized by Germans or not after II
has been thoroughly utilized by thu
United States government.
| The surmise at first was that II there
was any foundation for Mr.. Saunders'
statement, electricity was the agent
utilized in some new manner for per-
fecung his apparatus. But it is not to
be electricity. Instead II will be of near
kind to electricity, for magnetism instead
| is to be utilized. The apparatus IA now
| being built In large numbers. The inten-
ton OF the government Is speedily TO
| strew the sea in all zones where the sub
\ marines are operating with many thou
sand of these little but deadly things
The apparatus is so built that Il will
| almost foat upon the surface Of the
| ocean. Yet IT is so small that It is not
| likely to be detected. II requires no
guidance. II operates automatically.
When a submarine approaches within
its influence, then the apparatus will at
| once cling to the hull of the submarine
with something like the tsnacity OF the
tentacles OF the devil fish. Those who
are operating submarines are not likely
to know that one OF these dangerous in
| sects Of the sea is attached to its hull
The submarine is safe as long as Il re-
ratus is so adjusted that not until a GER
tain depth Is reached-the average depth
to which a submarine sinks-will the stu
pendous force contained within II be dis
charged. thereby tearing the bottom of
| the submarine out. That will be the end
| Of the submarine.
Very Low Cost.
The apparatus can be made at as low
| cost as five dollars for each one. Ex-
haustive tests OF II appear to have per-
suaded those in authority that its Is ca
pable OF doing exactly what its inventor
who is an army oficer-claims for It.
Therefore, II Is the understanding here
that already this apparatus in consider
able numbers is in the process of manu-
facture and will, when made, be taken
out upon the ocean and then set free to
float here and there, until at last, through
its magnetic power. It attaches itself to a
submarine.
It Is the belief that the apparatus viii
thoroughly supplement the work of the
destroyers and serve as an efficient ally
for the American -hotiTla which is now
operating in the submarine zone and for
the additional vessels OF this type which
are to be sent to this zone. One peculiar
ity Of the appartus is that IT win not
endanger any wooden ship or any steel
or iron ship unless the draught be sub
the subma rine sinks when It is submerg-
ing.
BY early fall the allies should receive, |
submarines or no submarines" as Pres
ident Wilson expressed 1t, needed sup
plies exported from the United States
In abundant amounts. For although the
submarine may continue its work and
send to the bottom now and then ves-
sci laden with supplies, nevertheless the
proportion of vessels sunk to those which
safely reach port will in all probability
grow less and less. So far as those in
authority can see, German inventors will
not be able to perfect any device which
will negative the influence Of this ex-
traordinRry apparatus.
A TFffIe of the Nations Wealth.
Although two billion dollars represents
figure which the human mind is IN
able concretely to grasp, nevertheless the
sum is In reality a trifle in comparison
with the wealth of the United States.
1t is an Insignificant sum when set
against the figures which tell Of the
clearings Of the banks Of the United
States for the year which ended October
!, 1915. The bank clearings Of the coun-
try in that time aggregated almost exact
ly $2s1, 900 10000 Those figures reflect a
great part of the business activities Of
the United States. Were the census bu-
reau now occupied in estimating the ma
tlonal wealth OF the United States it
would, according to the best judgment.
be able to report that our aggregate
wealth is not far from 500, 90 OO0,Ooo Or,
in other words, it is approximately equal
to the bank clearings as those were re-
ported last fall for a year. The people
can take out Of the money received for
agricultural products the $2Ooo.oo0oo0 OF
the liberty loan and still have left from
| FIVE to seven billion dollars 1t is esti-
mated that the total income Of the peo-
pie of the United States is approximately
! $S7, 900. 900 900. And We have been able to
buy back from Europe since the begin
ming of the war American securities Of
face value only q little under the lib
erty loan figures. Comparisons of this
kind Justify the confidence of the men of
| finance and of the Secretary of the
Treasury that the liberty loan will be
fully subscribed and paid for without
| impairing American business or indus
trial life; but in all probability with the
effect of stimulating business activity so
that the prosperity that is before us will
far surpass, both relatively and absolute
Iy fhoF States has