The Republican journal. [volume] (Belfast, Me.) 1829-current, 1918-10-03


Enrone. They were coming down to
Grim battle, and on that day the Ameri-
can neople assembled in their halls of
LEGISLATION and the nations first stood in
the presence of the peoples representa-
tives and read the immortal declaration
that carried the American Republic into
the GREAT world war. On that day Wood
row Wilson took his place among the
worlds great leaders. On that day the
American people cast in their lot with
the other liberty-lovin people of the
world, and for year now we have been
engaged in that great contest. We all
understand the principles involved in the
issue: we are all familiar with the thing
called the war. Most of us have one or
two bovs somewhere or other engaged in
this great contest For the most part our
hearts need no one to touch them; our
minds do not need to be stirred. There
remains tonight but one simple thing,
and will call your attention to it briefly,
and that is simply this: Every one of US
should see the needs of the Republic to-
night What are they? We have spent
nineteen billions of dollars the past year.
Why, that is nearly as much money,
within one billion, as we have spent since
this country became nation! Ii you
should take all the money we have spent
through all the years, more than hum
dred years, all the budgets of one hum
dred years, and put them all together,
they would come 10 about twenty billions
of dollars; and suddenly the Republic has
/ spent nineteen billions in one year. 1t is
an unthinkable sum of money. We have
spent that money in organizing our army,
we have spent it in building ships, we
have spent it in building railways. We
have built railways more than equal to
the entire Lackawanna system-enorm-
GUS railways! We have spent it building
wharves; we have spent it building mu-
milton factories; we have spent it making
guns and air-ships; we have spent it pro-
ducing food. We have spent it in all
these ways with which we are familiar,
this nineteen billions of dollars, with the
exception of that which we have loaned
to our allies. And now the nation to-
night comes back and asks us for six
billion other dollars. What are they
going to do with this six billion? Well,
it will be part of the fifteen or sixteen
billions that we are going to spend this
year; but after all, Mr.. Chairman, that is
not enormous, for you bankers tell us we
are worth $50 billions. l do not know
whether these bankers know what that
means or not; l haven't any idea. $50
billions! Anyway, they talk about it as
though they knew all about it; they tell
US that we have an annual income of 50
billions of dollars; that every year that is
our income.
Now according to those figures, this six
billions will be about two and one-half
per cent. of our national wealth, so you
can see, Mr.. Banker, that taking two and
one-half per cent. from each dollar will
not hurt much, will it? Nooking at Chair
man Wescott No, can see that he is
not nervous about il. uaughter.) When
the war first started the bankers were
bit nervous, but they have recovered. |
remember banker down here in little
Maine town who said to me, "Why," Mr.
Dunnack, it will ruin the bank" said
to him, 'I don't believe it" "Well," he
said, "Why don't you believe it?'' | said,
"The big bankers have been studying it
and have got it figured out, and they are
inclined to think that it is going to be a
good thing for you." We talked there,
but | didn't know much about it. l hadn't
got so l could say billion, and neither
of US knew. At any rate he came in and
listened to me, and while talhed on that
evening he forgot himself and subscribed,
and urged all the other people to subscribe,
and he said "We will stand it somehow" ="
Later on went back to that little town
and the banker was at the station. l
said, "How is the bank getting on?" He
said, "Fine! Fine! Why" he said, "We
haven't lost anything" Certainly, it is
wonderful! Two and one-half per cent!
So you do not need to be nervous. Some
how we seem to be getting on famously
rode down on the train tonight and
fine young gentleman came along and
took my ticket, and when he came back
in a moment to shake hands with me, l
looked into his bright, fine face, and
realized that he was earning anywheres
from fifty to one hundred dollars week.
Naughter) 1t IS fine to ride with them
You know when l was boy hired out
to work for six months for thirty dollars,
and was rich. That's right, boys. | was
rich. Iaughter.) Thirty dollars was
vast sum of money. Now the boys that
are as old as | was then, or little bit
older, come down to city called Bath
Bath, America, not Bath, England-and
they get five and six dollars day. Why,
America is a wonderful country,-per-
fectly astonishing. Somehow it doesn't
seem to matter that we are at war; every
body has money. Why, over in England,
Mr.. Chairman, last year, notwithstand-
ing all the nation had suffered, the bank
savings deposits were greatly increased.
That is perfectly astonishing thing.
Somehow there is wizardry about this
money question. l suppose the bankers
understand all about it. We do not eat
money! the money we have is all here.
The most of the business is done on the
good will of the people, on the credit
that we have, the trust that we have in
each other. l like to talk this way to
you little bit least you get scared at
raising six billions of dollars. There isn't
anything abont it that need to alarm any
of US. The thing is, the nation wants
six billions of dollars. What is she going
to do with it? Why, that is easy! She
is going to keep the fellow fit to fight up
on whom she spent the nineteen billions to
get him ready to fight. 1t is just sort
of safeguarding your investment, Mr..
Chairman; Just simply to keep those men
over there. l wish I could remember
something would like to tell you (hesi-
tating). | am often like that. But when
the American army goes into battle and
they throw that barrage out there,-I
wish l could remember to tell you how
much it would cost to put barrage in
front of an army over ten-mile stretch
down the field. | wonder if anyone here
remembers how much. 1t has gone out
of my mind for a moment, but it costs