Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1917-08-28
PRESIDENT ISSUES PRocEAMA-
TON WHICH GIVES AMERICA
CONTROL OF SUPPLIES.
GOLD TO BE CONSERVED;
TREASURY MADE DICTATOR.
Embargo Order Effective After Aug. 80
Absolutely Prohibits Exports Of All
Commodities to Enemy and Neutral
Nations Alike-Lieenses For Ship
! ments After y. s. Needs Arc Met.

Washington, Aug. 2S.-Sweeping en-
barge to all the world. designed to give
the United States absolute control OF
it's exports. was proclaimed by Presi
dent Wilson.
The embargo order absolutely pro-
hibits after Aug 80 the export of al
articles Of commerce. to enemy and
neutral countries. 1t is planned to look
after the needs of neutrals by licensed
expectations in so far as the United
States can do SO after caring for its
own needs and those of its allies at wal
against the central powers.
A separate list Of commodities in
cludes additions to the original embar-
go order Of July 9, which shall be with
held from all nations. allied and friend
ly countries included. except under IL
censed shipments. In this list is in
cluded fats of all kinds. other foods
construction materials and other arti-
cles necessary to the successful prose-
cution OF. the war by this government.
Seeks to Conserve Gold.
The problem of conserving the huge
store Of gold accumulated by the
United States since 1914 Is believed to
have been met in part by the addition
of gold, bullion. currency. and evidences
of Indebtedness to the list of commodi-
ties requiring licenses for export to
European countries.
Regulations for licensing will be
promulgated by the secretary of the
treasury and enforcement probably VIII
be placed in the hands Of treasury en-
ployes.
The effect of restriction on gold ex-
ports, it is believed, will be to depress
still further. temporarily at least, the
value of the dollar in international ex-
change, especially in the neutral coun-
tries of Denmark, Sweden, Norway.
Holland, Spain, and Switzerland.
where foreign exchange is against
American money.
Low Value Mystifies.
Reasons for the comparatively low
value Of the dollar in these money mar
kets have not been explained entirely
to the satisfaction of officials here by
the ordinary balance of trade. In the
case of Spain the balance Of trade is in
favor Of the United States, yet the ex-
change rate is heavily in favor of the
Spanish peseta.
While the total gold exported to
Spain has not been great. it has been
sufficiently large to cause an inquiry by
officials into the situation and close
scrutiny of all transactions involving
the shipment of gold to that country.
British and other allied officials have
been working with treasury and federal
reserve board heads for some time past
to devise method Of conserving the
American gold supply. Japan. which is
withdrawing gold from this country in
large shipments from San Francisco.
had not been party to these confer
ences in the past, but with the arrival
here Of the Japanese mission it is I'M
derstood steps were taken to include
its representatives in the informal dis
cussions.
The Presidents Explanation.
In a statement accompanying the
drastic order President Wilson makes
it plain that the embargo is not an abb
solute prohibition against exports. The
president says:
"The purpose and effect Of this proc
lamation is not export prohibition, but
merely export control. It Is not the in
tention to interfere unnecessarily with
our foreign trade, but our own domes-
tic needs must be adequately safe
guarded and there is the added duty of