New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1918-12-01

The signing of the armistice with
Germany apparently removed the
last obstacle to sending economic aid
to Russia from this country. The
announcement by the War Trade
Board that three vessels have already
left the Pacific Coast for Vladi-
vostok, carrying commodities which
are most urgently needed, together
with a statement that a definite sys-
tenn has been developed for future
shipments, is fraught with real sig
o1ticance If the War Trade Board
nf the United States, Russia Bureau,
which has just bcen organized to SUI
pervise Russian strade, contributes to
the achievement of its avowed pur-
pose Of "helping the Russians to
help themselves in stabilizing the
economic conditions in Russia" the
effect on Americas foreign trade
prospects and upon the establish
uent of law and order in the ema-
ssiated Slavic country may be very
great. Although the new bureau is
30 have a capital stock Of S5,O0O,OO
paid in cash out of government
funds, its policy, according to its an
nouncement to the press, will be to
cooperate with, encourage and pro-
mote such trade with Russia as will
assist in the rehabilitation of her
economic life, and TO cover by its
direct operations only such portions
of the field as cannot at present be
served readily by private enter
prises. The new instrument for
resuming trade with Russia, which
has been virtually cut off since the
accession of the Bolsheviki a year ago
is plainly designed to supplement
and to aid private trading houses.
That seems to be in accordance with
the advice of the shrewdest students
of Russia's present dilemma. Amer
lean traders will do we'll to realize
that a spirit of friendliness toward
the Russians in this their hour of
distress ought to create a good will
that will be invaluable when they
have found themselves and set about
conquering the fabulously rich nat
ural resources of the country.
Observers of the railroad outlook
are impressed by the complexity of
the situation. The old short cuts to
understanding of transportation
problems no longer suffice. The
challenging issue of the immediate
present, it seems, is not simply
whether government ownership Of
the public utilities is superior to pri.
vate control or vice versa. Other
questions also yearn for solution. If
the roads are to be turned back, I'M
der what circumstances should they
go? Is the old, inefficient system of
supervision of scores Of competitive
roads to be lodged in the Interstate
Commerce Commission and forty
eight self-contained state commits
sions? Is pooling to be forbidden,
and are all the obvious teachings of
unified operation to be ignored?
Real, practical issue such as these
ho tnnl-IoI ,~,,@
Of a high school debating class.
Railroad men are beginning to per-
ceive that even government owner
ship might be superior to restored
private ownership, which would be
paralyzed by hostile legislation. 1t
Is to be expected that at the confer
ence to be held here at the Chamber
of Commerce Wednesday under the
auspices of the Railway Executives
Advisory Committee railroad presi-
dents will approach these burning
questions in spirit Of constructive
leadership. Investors in railroad
securities are awaiting their pro-
gramme with genuine interest.
A marked change has come
over the spirit. of banking Time
was, and not long ago, when the
banker was bracketed more or less
with the usurer and money changer.
Some Of that tradition fingers still.
1t is being loudly voiced just now
by the leading citizen of Detroit,
Mich But the banker of to-day
must be at once something of an
economist as we'll as Il financier,
an educator and doctor and bust
ness guide rolled in one. This is
notably evidenced in the growing
demand for we'll considered eco
monte literature. One of the largest
banks circulates of its monthly cir
cular alone more than hundred
thousand copies regularly Two
thirds Of these are bought and dis
tributed by other banks over the
country. The instance is exceptional
and due almost wholly to the singu
lar skill and felicity with which the