New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-29

self. But we must add that the govern
ment was to some extent misled by the
London bankers who, for q quarter Of q
century previously, had refused. In
spite of all warnings and all pressure
brought upon them, to increase ade-
quately their reserves. The main
cause, however. of the predicament in
which VIC now find ourselves is that
we, the public of all classes and all
conditions, have allowed the idle rich
and the mere talking professional
classes to monopolize the government
Of the Empire Consequently. we must
frankly admit that good deal of the
discredit rests upon the great public
itself. Will they waken up at last, and
recognize that men who cannot even
dress themselves Of morning without
the help Of servants cannot be expect
ed to do anything that entails a little
trouble, however simple IT may be, and
that gentlemen whose business in life
is to talk and TO interpret an unin-
terpretablc law are not likely to be
good guides in the days Of danger and
distress?
We showed last week, with every de-
sire to minimize as far as We honestly
could, the probable cost Of the war and
how enormous is the debt we are piling
up, and we added that when peace re-
turns we shall have to face many and
very serious difficulties. Still, bad as
our condition is, it is reparable If only
We take the right course to put every
thing in thorough order. We want, IN
the first place, q government that really
understands the resources Of the coun-
try and how to develop them. We want,
secondly, a government composed OF
men of great practical experience, who
have often had to look financial Difficult
ties In the face, as we'll as strikes and
other troubles, and have somehow or
other come out successful. We want,
in short, competent experts to lead u.
through an exceedingly troublous fut-
ure. Without such we certainly shall
not maintain the high credit that Eng
land once held, nor shall We earn the
vast profits that London used 10 re-
ceive. 1t is not a slight matter that Is
at issue. The country Is very small IN
territory. II is crowded with a popula-
ton which does not receive quarter
Of its sustenance from its own soil. Ne
are dependent, In fact, for the very
means Of buying the food and the raw
materials we require upon our trade.
And our trade Is being put in perilous
state by sheer incompetence, a natural
result Of employing men who never did
an honest days work in their lives TO
take care OF our interests. In eveIS
direction competitors are growing up.
But there are two who are specially
dangerous - first, our own kinsmen
across the Atlantic. They are consid-
erably more than twice as numerous "a
we are in these islands. They are
among the very best business men that
the world holds to-day. And they arc
in possession of a soil which is capable
Of maintaining five times the popua-
ton it has at present They have.
therefore, illimitable room to spread
and to multiply, and they have re.
sources which, with the exception Of
China. no other country in the world
possesses. Under any circumstances,
therefore, they would distance US in the
long run. But if we had really capa-
bic government we might hold our own
for long time, and we might make
adequate provision for the day when
we should indeed have to play second
fiddle. As it is, three short years Of
war have suddenly deprived us of our
financial primacy and threaten to land
us in a position in which we shall be
dependent upon the lending power Of
others and incapable of lending our
selves.