The Washington herald., 1917-09-17

Recently, one who is of high
executive authority in one Of the larg-
est of the American industries said,
after coming from an important meet
ing of the executive committee: There
are some fairly good reasons for the
hope that the world may be able with
i'm few months to speak of the hor-
rible conflict now waging in Europe
as the late war. Personally 1 hope
that in the years to come 1t will be
referred to as the last war;"
The reasons upon which this hope
Is based do not refer to the evident
propa ganda that is under way with
intent TO persuade our government TO
relax its preparation for war. Inc
government at Washington Is known
thoroughly well to understand the
sources OF this Propaganda and its pur-
pose. 1t will not influence the gov
ernment in the slightest. The mana
gers of the great industries know tnat
the government intends to place order
after order for many months for the
war commodities produced by these
industries. These orders will not be
cancelled until peace actually comes
or until the government has assurance
that IL will be established and upon
the basis set forth in President Will
sons reply to the communication from
the Pope.
One of the reasons why some oil
those who are of very large business
affairs are beginning to hope. in 1act
almost TO expect, that the present
conflict may be speedily referred to
as "the late war" is based upon IN
formation which has been reeived
from Switzerland! and from PROP
ably one or two other neutral nations
This information reflects the desper-
ate anxiety of the bankers and imam
c!ers of Germany. 1t also reports
some of the representations made oy
these bankers and financiers to the
German rulers. They are reported as
having declared that the hnanclal
pressure in Germany is now so great
that IL much longer exerted 1t VIII
reach the breaking point. They pe-
lieve that Germany might 1or SOME
time, maintain successful defensive
tactics against the allies But even
military strength is greatly impaired IL
financial strength is much weakened.
rho economic situation in Germany,
according to the information our busi-
ness men, Is well as the Washington
authorities, have received is now very
serious. 1t has been greatly anected
and will for weeks to come be stili
more affected by the embargo which
has been made effective by President
wilson's proclamation.
Germany is receiving no money in
anv amounts from outside sources.
Some of the best authorities are now
convinced that bankruptcy Is newt
able IL the war be prolonged and after
bankruptcy there may follow repudia-
ton of Germany's debts or some part
of them.
Whatever be the outcome of the
war from the military point of view,
business men who have had .opportu-
unity of gaining information believe
that at least a generation's time will
be needed for Germany to recover en-
tirely from the economic effects of the
war.
These are some of the reasons why
the managers of some of the large
corporations are convinced that Ger
man bankers and financiers will bring
such pressure to bear upon Germany's s
rulers that these rulers will be COM
pelled to .proffer peace terms of such
character as win make it necessary
for the allies seriously to consider
them.
Four days have passed since publi-
cation was made of the fact that the
late ]. B. Martindale. for some years
president of the Chemical National
Bank, embezzled in various ways
100000. AS time passes this announce
ment is more and more spoken of as
reporting the most grievous calamity
which has befallen any New York
bank of Importance since John c. Emo,
when president of the Second National
Bank, was discovered to have robbed
that bank OF 4 large amount Of money.
Emo fled to Canada. and extradition
sought by the United States was re-
fused. But that was more than thirty
years ago. Since that time no inn
portant executive ofiicer Of an infiu-