The Lake County times. [volume] (Hammond, Ind.) 1906-1933, 1917-02-13
lspecIaI ID THn TInrs.l


NEW YORK. Feb IA new and.
it is feared. final crisis has developed
in our relations with Germany. and un-
less her present submarine policy is
moderated. q single overt act may pre-
cipitate war. Usually the severance Of
diplomatic relations is followed by hos
tilities. but Germany has shown some
hesitation in adding to her numerous
enemies. and should this spirit hold. it
is yet possible that such a calamity may
he avoided This country plainly does
not want war That conspicuous fact
has been amply proved by the forbear-
ance of our government to a degree that
often provoked adverse criticism Of
other nations. Let us hope that it may
not be out lot to add fuel to the con-
Migration now devastating Europe and
that instead we may be left free TO
lead in Fastening the return Of peace.
Common prudence. however. dictates
ample preparedness on our part In case
Of hostnities. our fleet would be i'm
mediately available. and could cooper
ate with the Allies. Our aid in this re
spect would be prompt and valuable.
On land. it might be some months be-
fore we could render vital assistance.
vasion in the United States, although
a considerable guarding force would be
required at home. To send over even
a half million of we'll seasoned and
properly trained men would require a
considerable period. while the forward
ing of a million or more would be a
still greater task owing to the difficult
ties of transportation and equipment
i
offer the Allies would be cooperation Of
the American fleet. prompt and ample
supply Of munitions for France. Italy
and Russia. and moro liberal financing
Of these nations in order to assist
Great Britain. which has taken on the
brunt of financing the Allies We could
also do much in building new merchant
steamers with all possible energy in
order 70 replace those destroyed by sub
marines such efforts would be quite
as advantageous TO the United States
as to the Allies These vessels could
he constructed for strictly American
owners. and if properly managed would
constitute a very profitable investment
for the nation as well as the owners.
such an enterprise would be simply
taking advantage OF grand oppor-
tunfty for the immediate establishment
on a firm basis of the United States
as a maritime power. For several years
to come ocean tonnage will be scarce
and freight rates high. No such at
tractive opportunity ever occurred in
our history. and American enterprise
should be quick to take proper advan-
tage.
The continued weakness Of the stock
market is significant. Last week 1t has
been largely due to foreign liquidation.
Such declines are usual before the be-
ginning of hostilities. partly as a result
of timidity and sometimes in order to
anticipate necessary war financing. In
this case there has been extensive for
eign selling both British and German.
The British selling was due to the pay
ing Of demand loans from proceeds of
the recent $3.50 600 600 loan This trans
action released considerable collateral
which has been steadily offered for sale.
The most important source If weakness,
however. was probably from German
sources The result Of German selling
was distinctly noticeable in foreign ex-
change Marks advanced sharply to
over 70, owing to the demand for re-
nittances. 81 being understo that fully
100000 marks We're purchased last
week. Previous to this foreign selling,
the market weakened on expectation of
a cessation Of war orders. which are
becoming less frequent and less profit
able than in the early stages of the
war. no some extent the stoppage Of
foreign munition orders viii be Offset
by domestic orders from the American
government for prepa redness- Some of
these contracts are already being placed.
and in event Of our entering tho war
such orders will Of necessity accumu-
late more rapidly. To cap the climax