New Britain herald., 1917-02-24
Henry CLeu, $ Weekly Letter
, Especial to the Herald.

Especial to the Herald.)
 New York February 24.-The ques-
 ton what will happen in event of war
 with Germany is still uppermost in
 business circles. Undoubtedly there
 would be considerable temporary ex-
 citement over such an eventuality,
 even though long expected. Plans for
 adjustment to such a contingency
 have, been completed for some time
 past. Federal, State and City gov
 ernments are we'll prepared for all
 immediate possibilities, and there will
 be no lack of energy in preserving
 peace without our own borders. All
 forms of disorder will unquestionably
 be promptly and firmly dealt with.
 Military and naval plans are well
 advanced, although considerable time
 will be required for their exclusion.
 In the event of war, loyalty in action
 to the government will be the first
 duty of every citizen. regardless of
 birth or sympathy. Every good cit
 izen will do his bit toward pushing the war to a successful end.>~ Moth ing should be left undone for strengthening. the hands of the pres
 ident upon whom a tremendous re- sponsibility rests. He should be given necessary power and freedom in or
 der to properly meet that responsi-
 blllty. If war comes, it will be time for action rather than discus sion. Fortunately, congress adjourns March 4, which should relieve the president of much embarrassme ent, the country being quite content to trust
 his Judgment. Of course, congress alone can declare war, but there should be no hesitation in that body about. trusting the president as far as possible. He has most patiently exert ed every effort to avoid war; not few believing that he has been too patient and that our forbearance has been mistaken for weakness. His course, however, will have the ad
 vantage of proving that this country has not been the aggressor These remarks are based upon danger that Americans sincerely hope will be safe ly passed. This country does not want war with Germany, as is self evident on all sides. It if comes, we should as aAnation take it calmly. Some, exciten1ent may occur at fisst,
 but our people should promptly re- cover their poise, and accept the situation as did the countries of Eu- rope to whom the consequences were infinitely more serious. Business may be deranged for few weeks until banking and industrial esta blish- ments have adjusted themselves to new conditions. But mobilization plans in these directions are already far advanced. and there is reason to believe that within a few weeks the new system would be working fairly sno oothly. War would of course i'm stimulate a number of home industries, particularly those fitted to meet military and naval demands The Federal government would un- 1oubtedly take on many new activ- ties and impose variety. of new and perhaps inconvenient regulat tions as var measures. Our banking system, effectively backed and solidified by the Federal Reserve Board, is ready for lny emergency A large government oan is imminent, rumor saying $5OO,- 100000 at 3fc, and would be very taken, as would others that night follow.
 One effect of the war will be a leavy increase in taxation. Under ex- sting plans the outlay for the navy without war will be nearly s500,0O0,- 100 in the year ending June 30, 1918 md, the outlays for preparedness the lext fiscal year will approximate $1,- 100, 100000, compared with 3,00O,- 100 for the fiscal year ending next June. It is quite evident we are in or heavy taxes for several years to | ,ome, and considerable bond issues ! which of course will be heavily aug nented in case of actual hostilities Var would without doubt be accom- panied by a period of intense indus l rial activity in certain lines; also continued imitation in values owing to scarcity of many commodities, de- 1 of distribution and the fur her drain upon labor supplies for mil tary necessities. In all probability 1 such prosperity will be of limited dur ltion, especially as European belliger 1 ents are expecting an early ending of he war. Then will follow the stimu- ating period of reconstruction in Eu- rope which will make heavy demands i upon American industry simply be- ,ause we are in a better position to l furnish Europe with immediate sup plies than any other nation. It has been estimated that $6,OO0, 100000 will l be necessary to restore the devastated 1 regions into habitabf and workable Railroads and highways l will have to be rebuilt; likewise cities, l towns and farms. Many industrial es- 1 tablishments will also have to be re- built, calling for large quantities of l and fabricated materials. 1, The amount just named apparently l does not cover vast sums required to | replace and repair worn out shipping 1 and railroads of the belligerents. All l means of transportation have been tre- 1 overtaXed outside of the l war zone, and there has been neither time nor money to maintain equip ment in proper condition. For several 1 years to come Europe will need our 1 money and the proucts of our indus- i