New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-05-13

blems and you indicated your view-a
view which ! personally entirely share
that when this tremendous confilct
has drawn TO its appointed close ana
when, as ! believe, victory shall have
crowned our joint efforts. there VIII
arise not merely between nations, buV
within nations, n series of problems
which viii tax all our statesmanshlp
80 deal with I look forward 20 that
time. not. indeed. wholly without anN-
i,ty, but in the main with hope and
with confidence: and one Of the reasons
for that hope and one Of the founda,
tons of that confidence is to be found
IN the fact that your nation and my ma
ton viii have so much to do with the
settlement Of the questions.
81 do not think anybody Will accuse
ne Of being insensible to the genius
and TO the accomplishments of other
nations. ] am one of those who believe
that only in the multitude of different
forms OF culture can the completed
movement Of progress have all the varl-
ETY. and unity of which II is capable;
and while | admire other cultures. and
while ! recognize how absolutely all
important they are TO the future Of
mankind, | do think that among the
English speaking peoples is especially
and peculiarly TO be found a certain
political moderation in all classes
which gives one the sures: hope Of
dealing in a reasonable, progressive
spirit with social and political diff
cultiCs.
Problems of the Future
And without that reasonable mod
Grafton changes are violent, and as they
are violent, reactions are violent also,
and the smooth advance of humanity
is seriously in;erfered with. | be-
licve that on this side OF the Atlantic.
and hope on the other side Of the
Atlantic. If and when these great prob
lens have actively to be dealt with, It
will not be beyond the reach Of your
craftsmanship or of our own 10 deal
with them IN such a manner that we
cannot merely look back upon this
great war as the beginning of time
Of improved international relations, of
settled peace. of deliberate refusal to
pour out oceans of blood to satisfy
some notion of domination; but that in
addition to these blessings, the war and
what happens after thc war may prove
TO be the beginning of a revivified
civilization which will be felt in all
departments OF human activity, which
will not merely touch the material,
but also the spiritual. side of man
kind, and which will make the second
decade Of the twentieth century mem
orable in the history of mankind"
Lord Cunliffes Address
Lord CunlifTc evoked vociferous APP
/ 4 H.. 4 i . l.
international financial situation. and
especially the problem of exchange:
in my opinion London should not
now depend entirely on the United
States. They should continue, as far
as they are able and 10 the end Of their
bent, to ship you gold, TO sell you Sc
curitios. and to try, by every meaps in
Their power, TO pay fairly and squarcly
the debts that they have incurred in
this country"
He told his hearers that he sup
posed, because of his inner knowledge
of the working of the financial efforts
IL London, he had been sent to this
country to answer questions. He went
on:
81 arrived in Washington just be-
fore tho taking in by the Federal Re-
serve Bank Of this vast 5000 600 a
fortnight ago. They were good enough
to 20 through with me the means they
had taken. not only to withdraw that
money from the market. but 10 replace
IL on the market without delay. Cen
tiemcn. the arrangements were so COM
pletc that ! had not word or hint
Of suggestion to give. It proves how
extraordinarily complete these ar
rangements were that the money rate
here in New York in the morning was
> per cent, in the middle of the day it
rose to 4 per cent. and in the evening
it went back to 2lz per cent What
more splendid financial transaction
could be accomplished ~
As the result of his trip through the
Middle West, the speaker said, he had
learned OF the great preparations there
for handling the huge Liberty Loan.
The bankers there, he said, were doing
all that he could possibly have suggest
ed and that he had been "of no use to
anybody" And he was afraid he would
have the same experience here. But
he had word of warning TO add, as
follows:
DO not fall into the error which we
did at home of undertaking our foe.
! am AFRAID We ala so at lne DeRlH~
ming. Financially am certain that we
did. Our foe was we'll prepared. They
had all their economies we'll cut out,
planned, and everything ready. meat
ti-kets and bread tickets. If we had
oaly taken the thing boldly up during
thc first few months Of the war, we
s.9uld be in a vastly better eosition
to-day OF course, the same thing
does not apply TO you here in America
because you support yourselves and
more than support yourselves with food
stuffs and the other necessaries OF
life.
1--WE have to buy it all from you and
from other countries. Therefore, il is
very much more important for US TO
economize than for you. Still would
venture to remind you that nobody
knows how long this war is to continue,
and that if you are to put up the notice.
Business as Usual | would suggest
that extravagancies should not be d
usual. If by any lucky chance the
economies are not needed and tic En'
should come TO an end very 5000. ho'0
easily will it be to slip bact mo
the old ways and the old Injuries"
Balfour Guest at Chodte