New-York tribune., 1918-04-16
Undersubscription Would
Mean More Than Loss of
Battle, He Says
Brokers Aroused by
Address i'm Exchange
Declares u. S. Determina-
ton Must Be Made Evil
dent to Men at Front

James M. Beck yesterday told one
thousand brokers and their guests at
"a large town meeting" on the floor Of
the New York Stock Exchange that he
would rather read Tomorrow that our
gallant Pershing and his men had suf-
fered . great disaster than to read
three weeks hence that the American
people had refused to mobilize out Of
their vast wealth three billions of dol
lars to aid the great cause"
For fifty minutes Mr.. Beck stood be-
fore the financial leaders and inter-
preted the significance of this, "the
darkest hour of the Allied cause" He
said that Americas help must count
in the present battle of Picardy, for
there may be no next time" Mr.. Beck
added that America need no longer
consider the possibility Of a German
invasion of our shores, because tive are
welding together a prodigious military
power" The real task of ridding the
world Of "the incubus of the Hohenzol-
lern dynasty" he said, Crises higher
than the mere selfish interest of our
nation"
Mr. Beck's statement that the events
of the last few weeks had crystallized
the war sentiment of America and
made the people feel that they would
have nothing to do with Germany as
long as she stands "cynical and de-
fiant," naked and unashamed" before
the world evoked loud applause.
Thanked by Fighting Men
In introducing Mr.. Beck, H. G. S.
Noble, president of the Stock Ex
change, characterized him as zone who
stands unexcelled in presenting the
great issues of the present time" A
battalion of the 22d Infantry, from
Governors Island, and one of blue
jackets of Naval Base 6, at Benson
hurst. were lined up at either side of
the rostrum from which Mr.. Beck
spoke. High military and naval off,
GERS sat in the front row of the audi
ence ahead of the leading men who
constitute the Wall Street community,
The meeting marked the formal open
ing of the Liberty Loan campaign of
the Stock Exchange.
eff, in this critical hour" Mr.. Beck
emphasized. when our allies are sac
riicing their lives with such noble
prodigality for our common cause, and
when our own men are battling, she'd
ding their blood for the honor of this
nation, If we, who stay at home, were
to give TO these allies and to our SOL
diers the appearance of lukewarmed-
ness by failing to subscribe and over
subscribe this loan, then irreparable
damage would be done not only to the
common cause, but to the prestige and
fair name of America. If the German
navy should ever enter New York iar-
Dor and destroy it's greatest buildings,
we could rebuild them. but we could
never rebuild the shattered reputa-
tion of this country if in this hour
of supreme sacrifice we showed our
of dollars when our allies have mo-
Americas Greatest Test
"I would rather that the German
army came here, seized our coast cities
and put upon US the awful burden of
many nations than that America should
prove a shirker in this the greatest
contest for the basic principles of
civilization that tho world has ever
known. Better to fall than to shirk
Not failure, but low aim is crime. It
is this aspect that makes the success of
this loan of such vital and urgent i'm
portance.
"The hour is dark and terrible one
and no one can tell with certainty
what another twenty-four hours may
bring forth. Our brave allies, France
and England, which for more than three
years, with infinite self sacrifice and
unequalled valor, have spent truly with.
out stint or limit their substance OF
life and property for the common
cause, are now in a life and death
struggle with the foe. They have nobly
done their part. They have fought q
holding the lines at daily sacrifice o1
thousands of lives until America car
come with overwhelming forces.
Allies Hope Rests in Us
"Their hope is in US, and if We are te
give them now such seeming proof o,
Iukewarmness as the failure of thi,
loan would suggest then to them wouls
come bitter disappointment tha
would .gravely affect and possibly de-
stroy their morale.
IF America should fail by reason Of
short-slghtedness or war-weariness
and before it has borne its due share
OF the great sacrifice, which the future
welfare Of civilization demands. ther
the honor of our country would seen
TO all the rest of the world the yer,
cheapest OF our possessions. Our chill
dren and our chtldren's children would
rue that day. I'VE are now making GU,
future place in history. We will either
monty save or meanly lose our mora
Leadership Of the world.
Invasion OF United States Unlikely
u shall not argue to you that if yo,
DO not take Liberty bonds you will have
70 take Prussian bondage, nor will
Say, TO use recent catchword. tha,
II you DO not come across, the Kaise,
VIII This may be so, but doubt it
lime was, only one year ago, when thi,
country was in state OF deplorablt
unpreparcdness, in which for some un
accountable rcagon responsible official,
even at this hour seem to find inordi
nate cause for pride and qualification
"Then Germany might have attacked
our continent with some prospect oi
success. We had then only mobile
army OF 81 1000 men, and IL any disastc,
happened 10 our gallant navy, our Il rsi
line of defense, the seizure Of our east
Srn coast cities was not beyond posi-.
bility. But we are now slowly welding
. prodigious military power. Before
this war IN over, and indeed before an.
other twelve months have elapsed. we
VIII have an army OF at least three
"A