The Birmingham age-herald., 1917-06-01
HOW LONG WILL WAR EAST?
By HOLLAND

next F months. and that it will probably be of an amount equal to the liberty loan, subscriptions to which expire in md-June.
 The financiers have been taking sort of inventory of the present day resources of the people, and have been making con- servative estimates respecting the re- sources as those will be disclosed year after year for the next five years. This inventory justifies them in cautioning people against any anxiety lest we be l unable to meet without great distress the demands which may be made upon us. For it is their belief that we shall fully meet any conceivable demands upor our resources.
 NOT HYSTERICAL
 Reports come to New York from otherI parts of the country which fully conffrnal ! the statement made by the SecretaryY of the Treasury, William G. McAdoo, inn mediately after his return from the cam paign of education which he made through the middle west. MT McAdoo | found the people in that great section not 1 hysterical, not overcome by apprehen- sion, but instead enthusiastic and of common mind respecting preparation for ! offensive and defensive action by the army and the navy, as well as by the ] industrial leaders and the farmers. 1 That feeling is understood to prevail
 over the entire country. It is just as | strong in the south as it is in the west or in the eastern section. It will be reflected in the attitude of the people | toward the revenue bill which Is now l in the hands of the federal Senate. While there has been technical suggestion that l perhaps the best way to raise funds would be by borrowing, supplemented by
 sufficient taxation to meet the interest
 upon the bonds and provide a. substan- l tial sinking fund so that the bonds can | be redeemed within g. reasonable time.
 nevertheless 1t is observed that many of those who as individuals or as directors 1 of corporations would be called upon to pay large taxes, do not object to q
 revenue bill which would furnish as much
 as s1,SO0, ,000.000. All they ask is that th1
 taxation schedules be equally arranged and especially so perfected as not toi impair but instead to stimulate business.
 ALITTLE CRITICISM
 l Some of those who are leaders in tho
 iron and steel industry have not hesitated 1 to say that certain comments reported l to have been made by the chairmen of l the United States shipping board. Mir Denman, were uncalled for and seemed i, to have a tinge of demagogy.
 MT. Denman is reported to have said
 that the shipping board believes that the meeLlnBS or tno COlnInlLtSes or SoH- gress and not a public dinner with the head of the steel trust, are the ocoa- sions for the discussion of matters cf policy in respect to shipbuilding. There seemed also to have been an fnHma- tion that the chairman suspects that @ certain group of capitalists has been en- deavoring to influence General Goethais so that he would make public express sion of disapproval of construction of wooden ships In view of the attitude of the iron and steel industry of the United States to-
 ward the government at this time. and especially in view of Judge Gary's ad- dress of last week, 1t has occurred to some of these leaders that these insinuations might have been omitted, and that 1t would have been enough to say that in spite of the view of General Goethals the
 shipping board will go on in its work of
 causing to be built as rapidly as possible
 many vessels, both of steel and wooden construction.