The Chattanooga news. [volume] (Chattanooga, Tenn.) 1891-1939, 1918-03-11

lures Of capital so that, by conserving
capital and credit for those who have
legitimate enterprises, It will make this
credit and capital available at lower
rates Of interest, and also, likewise
through the control over capital and
credits, enable the government to bor-
row the necessary capital and credit to
continue the war at fair rate Of in.
forest. As a whole, the war finance
corporation bill is one Of the biggest
constructive measures ever adopted by
any country, and it is plainly a con-
servation measure which will prove ef-
fective in not only financing the war,
but in financing the industries Of the
country, which, without this protection,
would not be able to continue their
legitimate enterprises, which would
have resulted in tremendous losses Of
already invested capital and which
would have thrown a good many hun
dreds Of THOUSANDS of people out of en-
ployment. IL is expected that the house
will concur with the senate. and, after
proper deliberation, send the measure
for the presidents approval within the
next few days.
Lord cecips Optimism.
Lord Cecil. British under secretary
of state, says 1t would be criminal and
foolish not to let the japanese inter-
vent in Siberia. His statement to the
press however, is not regarded as the
final judgment Of the British govern
ment, thuogh, it is likely in the end to
prove part of the usual method Of pre-
pairing British opinion for announce
ments Of policy.
In any event, it is the first public ex-
preston which is at variance with the
views of the United States government,
except for the informal outgiving to the
effect that America believed an eXpedi-
ton by any country into Russian ter
ritory would be inadvisable because OF
it's possible adverse effect on the Rus
sian people.
Nobody in authority has said any
thing to refute the impression of mill
tary danger, of which Lord Cecil gives
intimation when he outlines German
to organize German pris
oners in Siberia. This brings out very
clearly that both the United States
and the British govern
ment are still thinking alphabetically
about the situation and without def
mite knowledge of what German plans
are.
Policy depends more than ever on
a question of fact. Can the Ger
mans be of serious trout lie in 81
IBERIA with Japanese troops in
northern Manchuria and Mongolia
ready to invade Siberia, II the Ger
mans do get foothold? And would
the Germans risk such an eXpedi-
ton with the Japanese able to cut
their lines of communication and
possibly capture the entire German
force?
Again the American government
councils caution, because II no military |
crisis arises in Siberia and japanese
has served to antagonize |
,he Russian people, another one of
hose allied blunders in the Russian !
situation will be chronicled such as
Arnold d. Osche-F -Fluerot, OF the New
York World, outlined recently in his
dispatch from Petrograd, pointing out
now Andrew Bonar Laws utterances
ended to weaken the Kerensky gov
and bring the Lenine- -Trotzky
party into power.
Japanese Studying All Phases.
Now comes the report that
Trotzky has resigned. Evidently,
the Russian situation is not work.
ing altogether in favor OF Germany.
Any action on the part of the allies
that will serve to maintain the con-
fdence of the Russian people is
bound. in the end. 20 make Ger
many's job in Russia Increasingly
difficult. something which means
more German troops will be needed
in Russia, and, therefore. less
available for the expected drive on
the western front.
That Japan realizes the gravity OF
he step is recalled by the fact Nthat
.pinion in Japan itself is divided over
he question of Intervention in Siberia.
so formal reply has been received to
he American expressions communi-
ated by Norris at Toxic. but the Jap
nese government fully appreciates and
the reasons OF the United
states for advising against interven-
ion.
The japanese are by no means I'm
etuous about IT, They are going very |
lowlv. and their divided public opin-
IN is an indication that all phases ~
he matter. including the possible mis- I
in the United states.
,ill be thoroughly oanvassed.
II would not be surprising 10 ind J.,
that II Japan decides on intcryen- {
tion ghe will base her action on the
present military necessity and
make some specific statements Of
purpose 20 allay misundcrstand-
ing =