The Washington herald., 1917-06-01

men Of finance are now looking ahead
so that the country may be ready when
/ the leNt call is made, II there be one.
for large loan. and fully and speedily
to subscribe to It. It is observed that in
/ financial circles. there prevails q view
. that new loan will he called for some
! time in the winter, or within the next
twelve months. and that II WILL proha bly,
be OF an amount equal 10 the liberty
loan, subscriptions 10 which expire in
mid-June
The fnanCiers have been taking a sort
OF inventory Of the present-day resources
of the people. and have been making con-
( serNatiNe estimates respecting the re-
sources as those will be disclosed year
after year for the next FIVE years. This
I inventory justities them in cautioning
people against any anxiety lest We ne
unable to meet without great distress
the demands which may he made upon us
For it is their belief that We shall fully
meet any conceivable demands upon our
resources.
Enthusiastic, Not HystericaI
Reports come to New York from other
parts OF the country which fully confirm
the statement made ny the Secretary of
the Treasury, William G. McAdoo. i'm
mediateiy after his return from the cam
paign Of education which he made
through the Middle West Mr.. McAdoo
found the people in that great section
not hysterical. not overcome by appre-
hension. but instead enthusiastic and Of
common mind respecting prepa ration for
offensive nd defensive action by the
army and the navy, as well as by the
.~trial leaders and the farmers.
That ceiling is understood to prevail
( over the entire cuuntr'. II Is Just as
strong in the South as it is in the West
. -. O. h.
feCted in the attitude of the peonIe to-
ward the revenue bill which is now m
the hands of the Federal Senate While
there has been technical suggestion that
/ perhaps the best way to raise funds
would he by borrowing sunplemented hv
sufficient taxation 10 meet the interest
, unon the bonds and provide substantial
| sinking fund So thar the hNvHs an he
redeemed within a reasonable TIM. never
| theless 1t is observed that man, " those
who as individuals or as directors Of cor
n"rations would he called upon TO nav
. large taxes. do not object 10 a revenue
nii which would furnish as much as sl.-
N"""."". All they ask is that tho taxa
F.. non schedules ne equally arranged and
Hsn"c'ally so perfected as not 10 impair
h1l instead 10 stimulate business
Little CriticIxm
Some Of those who are leaders in the
IRON and stel industry have not hesitated
10 say that certain comments reported
to have been made by the chairman Of
the United States shipping BOARD, Mr
lpenman. were unCalled for. and seemed
10 have tnge of demagoEy Mr.. Den
man Is reported to have said that the
Shipping Board believes that the meet
tngs of the committees of Congress and
not public dinner with the head Of the
steel trust, are the occasions for the dis
cussion Of matters Of policy IN respect to
shipbuilding.
There seemed also to have been All
intimatiOn that the chairman suspects
that certain group Of capitalists has
been endeavoring 10 influence Gen. Goe-
thals so that he would make public eN-
preston OF disaprrovaI Of wooden ships.
In view of the attitude Of IN" iron and
steel industry OF the United States to
ward the government at TITS time, and
especially in view Of Judge Garv's ad-
dress Of last week, IL has occurred to
some of these leaders that these insin-
Uations might have been omitted. and
that it would have been enough TO say
that in spite Of the view Of Gen. GOethals
the Shipping Board will go on in its
work Of causing to he built as rapidly
as possible many vessels, both Of stee,
and wooden construction
HOLLAND.