South Bend news-times. (South Bend, Ind.) 1913-1938, 1917-03-05
WAR NOW NOW SEEMS
ALMOST CERTAIN
Although 1t is Not Desired,
Avoidance is Hopeless,
CIeWS Says.
by Henry CIews.

ance now seems almost hopeless,
unless there .s due respect 20 Amer
lean rights War is certainly not
desired by the American people, as
has been amply proved by the eN-
IRENE forbearanCe which they have
shown under persistent and exas-
perafing violation of American
rights. as well as disregard for
pledges distinctly made 10 our gov
ernT~ent. Americans had eagerly
Il <ed forward 10 the welcome
mis, n Of &C ~ as peaCemaker,
sincere hOy al OF ending the
tragic sta g in Europe, and soft
ening as f. IS possible the CONS
quences OF defeat. That hope
seems dashed completely, and in
stead gge must add 20 the univer
sal upbeavai by forcibly defending
our rights and doing our part to-
wards preserving freedom human
rights and civilization. If the call
20 arms comes. il must be Obeyed I'm
the spirit OF highest patriotism; not
a patriotism based upon love Of de-
structiOn, conquest or hatred, bur a
patriotism inspired by love OF cOUn-
try. by devotion TO justice. freedom
and the fundamental principles OF
government "of the people, by the
people. for the people" upon which
this republic was firmly established
more than a century ago.
No bitterness may be INDUCED in
agaiEy>t the German people whose
good qualities are well understood. |
Our antagonism is directed chiefly
against Prussian militarism which
has brought nothing but a deluge of
blood in Europe and Unreasonable |
disaster TO Germany; including an
aftermath OF hate tI:at Will require
generations 10 obfiteTate. In the
last analysis this is a war between
different types Of government, be-
ween ohgarchy and democracy;
and in such "a struggle there is but
one side for any real American TO
stand. regardless OF birth or minor
-ympathies. We must stand by the
president: he should be given the
power he asks, for he has done his
utmost TO avoid conflict with Ger
many. but is now determined 10 de- !
fend American rights. Only con
2
for the necessary revenue.
Accept Calmly.
Financial circles accept the situa
ton calmly. Pending such uncer !
tainty. dealings on the stock ex-
change were naturally restricted, |
until the present crisis assumed |
more definite tendencies. When sus- |
he expected. The first effect of war |
or preparation for such event out |
eide Of government and military !
circles will be reflected in the money I
market Large loans will inlmedi- |
ntely be Forthcoming, and the eX-
pected $500, 100000 three percent !
loan Will be followed by others, un- |
less the war ends earlier than now /
expected. In addition, the allies will /
make further demands upon our /
monetary resources. several import |
ant loans now being reported un- /
der negotiation; and since these Will 4
Ie employed for the purpose of
lluying more munitions they will OF /
course he readily taken.
Fortunately our banking system is
in splendid shape for meeting this \
crisis Ample time has been af- /
forded for preparation. our /
banking resources are generally in /
liquid form: deposits are heavy; |
money is abundant and relatively !
about the cheapest commodity oh
tainable Were it not for the con-
servative feeling i'm business circles. I
e--H.I
wages and the war crisis, the pres
ent boom i'm industry would un-
Coubtedly go ON indefinitely 10 fur
Their and perhaps dangerous eX-
tremcs. As 81 is merchants and man
ufacturers alike are cautious in
making future commitments. and on
no account should they depart from
such "a policy for the time being at
least Even the prospect OF further
large sold imports rendered neces-
sary by heavy merchs ndise exports I
does not tempt them 10 expand their \
activities az this time. owing TO the /
dangers of further imitation and risks \
of "a decline in commodities which /.
would follow the end OF war also
larger CROP next season which high f.
prices would naturally bring At
present there is no means OF check
ing this undesirable food of gold, /
except 10y importing merchandise /
more freely. which Is impracticab.e.
or buying back our securities from !
abroad. or by lending more freely 4
in the shape OF notes and other
forms OF credit.
The Immediate effect OF war
would be increased taxes, large bond
issues. heavy orders for military 4
supplies. the rushing forward OF ma
val construction and recruiting OF \
large mum bers OF men for the army. /
who would be thus Withdrawn from I
various employments and add 90 the /
problems OF the labor situation.
Several months must elapse before .
any considerable military force 4
could be dispatched 60 Europe. and \
q Is not known in what direction
our naval forces would be employed.
though defense would naturally re-
ceive first attention. Meanwhile We
could still offer considerable aid 20
the allies. since our munitions caps>
Ci.v is probably much ahead OF our 4