TaÌˆgliche Omaha tribuÌˆne. [volume] (Omaha, Nebr.) 1912-1926, 1917-10-23

!, to a wealthy creditor who
. drawing a tremendous but legi
! innate income from his loans
and is at the same time reinvest
ing a large part OF his interest
The interest accruing to thi
country through the various in
stances cited will amount by tn
end Of the current year, if thu
war continues, to nearly fort
million dollars per month.
Trade Supremacy and Shipping
1t is unnecessary to dwell her,
upon the material resources o.
great variety which fortify thi:
country for the maintenance Of
its premier position. But even
these, vast as they are, cannot
avail. for that purpose unless
there be at least approximate
adequacy in the chief instru-
ments Of foreign trade-shipping
and banking. The history OF
trade movements shows that the
possession OF facilities for mari
time commerce is a vital adjunct
Of prosperity. Venice, Amster-
dam, London, founded their sue
cessive reigns in the world of
business upon maritime effort
And, in the main, it was for the
same reason that each held it for
as long as it did.
Americas present position is
built not only upon her great
natural resources, but also upon
the fact that for a brief period
in the last century she became
the chief maritime power. The
development Of her natural re-
sources diverted the attention Of
capital from shipping enterprise,
but the conditions OF to-day
creations both of wal and of ma
tural economic developments
have again directed national ener-
gies to the building Of an Ameri-
can merchant marine.
The basis of a large merchant
fleet is being laid now. The
Shipping Board has just an
nounced that by the end of 1918
the United States will have a
merchant marine Of a tonnage
of more than 100000. The
country will thus make itself as
Independent of foreign shipping
as it has been dependent upon
it for the last half century. Com
petitive power in the world mar
kets depends upon a command
Of shipping facilities, and with
out competitive power national
prosperity cannot be properly
conserved and enlarged.
Banking Expansion.
Just as the country is alive to
the necessity of building up its
merchant marine, so is our bank
ing community keeping a close
watch on events, so that it may
be enabled, after the war, to re-
tain the advantages in foreign
trade which the necessities Of the
warning nations have thrown in
our path. The Federal Reserve
Banking System has done much
to encourage the efforts Of our
bankers Not only has it ma
terially improved our national
banking facilities, but the new
measures which are being adopt
ed from day to day will in the
future greatly strengthen the
newly created International ex-
change relations.
The bankers of this country
deserve all credit for having so
quickly grasped the opportuni-
ties which were opened up to
them by the war. They have
sent out able representatives,
practically throughout the world,
to establish branches in order
to open up new trade channels
and divert the trade of various
countries to the United States,
which formerly led to Germany
and elsewhere.
Much work still remains to be
done in order to strengthen the
efforts which have been SO aus
piciously maugurated and to
weld these together into one
vast profitable trade machine,
which cannot but have a lasting
effect on the prosperity Of the
entire country. Our bankers are
gradually realizing that these
new foreign relations can only
be maintained by extending ere
dit with an open purse and in
liberal spirit.
By extending credit on a large
scale, England and Germany be-
came the great commercial ma
tons Of the world. This question,