The Birmingham age-herald., 1917-09-08

New York. September 7.-(special) Several days before President Wilson an- swered the peace communication of the pope the opinion was expressed by some of the leaders in the financial district that with whatever courtesy and dignity the President might reply to that note yet between the lines could be read the inflexible purpose to secure peace through victory, or as one man of financial au- thority put it, to conquer peace. In no other way could there be secured a peace which would be lasting. Complete vic tory over the German army would in- evitably more strongly influence the Ger man people than would anything else.
 The inferred forecast of the real meaning of the Presidents reply to the pope is now regarded not only as jus tified but also as having been clearly UT rderstood by the military authorities of Great Britain and of France. lnfor- nation has been received here from Lon don which indicates that the British mili- tary authorities read President Wilson's note with the understanding that 1t means nothing less than "a fight to a finish" In no other way, they say, can the German military machine be de- stroyed When that military power Is crushed the German people will, for the first time, realize the true situation and that the establishment of peace rests with them. That Is the information which has come to New York from Lon don.
 On the other hand there is qualification ttat the President does not favor an eco- nomic and trade boycot of Germany after the war is ended. In this view he is SUD- ported by some of the leading British and French authorities. Baron dEstour- nelles de Constant, who, earnest advocate of peace as he was, nevertheless has been one of the staunchest of the SUD- porters of the war, wrote to friend in New York some weeks ago deploring the disposition revealed by some of those in authority to perfect an economic and war He was sure that this would be disastrous to the commercial nations or the world What would be needed, ne said, would be a reasonable assistance to the German people. if they seek aid of that kind. in rebuilding their indus tries, in extending their agriculture, and in cultivating the arts of peace. Fur thermore the other nations will need the trade which Germany will seek.
 It is believed here that the confer ence which WAS held in Paris some fectins of an economic and trade boy cot against Germany will be of little avail and in fact some of those who took part in that conference now realize that | 1t was a mistake. There Is likely to be for sometime after the war tacit boy 1 cot of Germany due to resentment. How l long that will be continued is a ques- 1 ton which the German people must an swer for themselves. France quickly re- stunned trade with Germany after the i France -Prussian war.
 1 The United States is making far more
 rapid progress in preparation for carry | ing on the war to finish than was deemed possible as recently as July l.
 Some of the men of finance believe
 that financial conditions are in such ex-
 cellent shape that they can. without any concern take vacations during the
 months of September. Some have already gone by way of the Great Lakes to the northwest, hoping to combine recreation with information there obtained. The financial situation, is therefore. entirely
 satisfactory and the federal government
 will be able to lend to the allies all the 1 money that they will need for the next 12 months,
 1 In the next place our army has been more rapidly mobilized than was deemed possible few weeks ago. There has l been general comment made by military authorities who saw the marching of week ago, which indicate that these mili- tary men of experience who watched those troops as the procession rolled on for miles are. certain that the American army will be made up of as fine a body of men as constitute the best armies now lighting on the west front in France. Furthermore. probably within the next
 than 100000 American soldiers will be in France ready and eager to share in what it is believed will be the ultimate
 triumph of the allies there
 Another factor which is serving ad- mirably to speed up the preparations the
 United States is making for participa-
 ton in the war Is demonstrated by the
 wonderful efficiency which has been
 ns de possible by co- ordination and eos
 yailrcads and the leading industriap of the