New Britain herald., 1917-03-03
Henry CLel,' $ Weekly Letter.
Especial to the Heraldl

! \cPSSioI to lHS A1eE0IVJ / New York, March 3-This week has
 brought the United States near to the brink of war. It's avoidance now seems almost hopeless, unless there is due respect to American rights
 War is certainly not desired by the American people. as has been amply proved by the extreme forbearance which they have shown under persist ent and exasperating violation of Am ertcan rights, as we'll as disregard for pledges distinctly made to our govern ment. Americans had eagerly booked forward to the welcome mission of acting as peacemaker; sincerely hope full of ending the tragic struggle in Europe and softening as far as possi- ble the consequences of defeat. That hope seems dashed completely and in- stead we must add to the universal upheaval by forcibly defending our rights and doing our part towards preserving freedom, human rights and civilization. If the call to arms comes, it must be obeyed in the spirit of highest patriotism; not a patriotism based, upon love of destruction. con- quest or hatred, but patriotism fn- | spired by love of country, by devo- tion to justice, freedom and the fund.- amental principles of government "of
 the people, by the people, for the people, upon which this republic was firmly established mere than a century ago. No bitterness need be indulged
 in against the German people whose
 good qualities are well understood.
 Our antagonism is directed chiefly against, Prussian militarism which has
 brought nothing but a deluge of blobd in Europe and immeasureable disas- ter to Germany; including an after
 math of hate that will require gener- ations to obliterate. In the last analy- sis this is a war between different types of government between oligar- chy and democracy; and in such a struggle there is but one side for any real American to stand, regardless of
 birth or minor sympathiea. We must stand by the president; h4 should be given the power he asks, for he has done his utmost to avoid conflict with Germany, but is now determined to defend American rights. Only con-. gress can declare war and legislate for the necessary revenue.
 Financial circles accept the situa- ton calmly. Pending such uncertain ty dealings on the stock exchange were naturally restricted, until the present crisis assumed more definite tendencies. When suspense is ended greater activity may be expected. The first effect of war or preparation for such event outside of government and military circles will be reflected in the money market Large loans will immediately be forthcoming, and the expected $500, 100000 three per cent loan will be followed by others, unless the war ends earlier than now expect ed. In addition, the Allies will make further demands upon our monetary resources, several important loans now being reported under negotia- tion: and since these will be employed for the purpose of buying more muni- tions they will of course be readily taken. Fortunately our banking sys- tenn is in splendid shape for meeting this crisis. Ample time has been af- forded for preparation. Our, banking resources are generally in liquid form; deposits are heavy; money is abund- ant and relatively about the cheapest commodity obtainable. Were it not for the conservative feeling in busi- ness circles, created by high prices. by high wages and the war crisis, the present boom in industry would un- doubtedly go on indefinitely to fur ther and perhaps dangerous eytremeas As 1t ts mArchants and dmanufacturerss alike TT tionss making fnture
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