New Britain herald., 1917-02-17

country are being rapidly absorbed
by increased expenses and the huge
demands of new loans. War is now
costing the various belligerents over
800, 100000 per day, nerrly all of
which is pure wastage except expen-
ditures for food and clothing, which
would have to be bought and paid for
under any circumstances. Since Au-
gust 1, 1914, the cost of the war must
have been approximately $7O,O00,0OO,-
900. The approaching spring drive
will increase expenditures, and if we
join in the melee the figures will be
additionally swollen. Rumor already
intimates that a war loan of $780,
100000 three per cent bonds is con-
templated In this country for our own
purposes. There is no doubt what
ever that it will be promptly taken.
tinues longer than anticipated, other
similar amounts will follow With
such demands and the consequent in
f1ation accompanying war, it is not
surprising that time money should
show a hardening tendency. Great
Britain, however. r. likely to do her
utmost to keep dsWn rates in this
market for the purpose of facilitating
her transactions in foreign ex-
change. Gold is again coming
in liberal sums from Ottawa.
Unsettling as the general situation
may be there is one fact to be borne
in mind, and that is we can face war
with perfect equanimity. Our con-
science will be clear for we have
tried to avoid war almost to the point
of humiliation. In this hour of crisis
let us not forget that there is a silver
lining to every cloud. We are seeing
today an exhibition of patriotism that
has not been equaled since the Civil
War. 1t is we'll to remember one
thing, that is that our country can
take care of itself, come what will,
better than any other nation on earth
in time of peace or in time of war.
Thanks be to Almighty God for giving
us a superabundance Of everything
for self-support, even though we were
walled in. The entire nation views
the situation with composure, conf
dent in the wisdom and strength of our
government, as we'll as in the re-
sources and patriotism Of the Ameri-
can people Our banking system is in
unusually good position, and soft spots
such as might be expected after re-
cent experiences are remarkably few.
degree of preparedness for this con-
urgency than generally supposed, and
our bankers cannot be taken by sur
prise. The same is true of our in
dustrial plants. Many of these are
upon or nearly upon war basis and
not few could take On big war orders
at once without, further preparations.
The shock of war WILL therefore, be
relatively light-if it comes-and east
ly borne; a fact that has already
been partly discounted. AS for mill
tary preparations, these, too, have
been perfected more thoroughly than
usually realized, the government hay
ing wisely kept such movements as
quiet as possible. There is no reason
why this country should not do as
other countries have done; take this
crisis calmly and suppress all I'M
necessary excitement. Foreign citi-
zens have nothing to fear provided
they conduct themselves quietly our
government having already assured
them that neither their persons nor
their property will be put under con-
straint so long as proper conduct is
complied with. The German element
in our population has long been con-
lean people have no amin osity against
the Germans as such; their hostility
being confined entirely to its govern
ment's policy of submarine ruthless"
warfare, in violation of our existing
treaties.
HENRY CLEWS.