New Britain herald., 1918-04-20

dustry. The Allies now have a single
military head. Our own Govern
ment. the greatest Republic in the
world, has placed more power in the
hands of one man than any nation
in the world. We have our dictators,
big and little, in food. fuel. railroads.
manufactures. commerce. ETC.; and
the last move, an excellent one by the
way, IS to place Mr. Schwab in su-
preme control of shipbuilding.
All this is admirable as a war
measure, and will bring the needed
efficiency in the shortest time. When
peace comes and the era OF recon
struction begins, there is no doubt
that many Of the new methods will
he retained and that not few Of
the discarded ideas will never be re-
stored. At Cincinnati this week the
Foreign Trade Council of the United
States, an organizat ton of leading
manufacturers and exporters for the
purposes Of foreign trade, held its
annual convention. There was much
significance in this meeting; for the
United States is destined to very
shortly greatly expand its foreign
commerce. Concentration, combina-
ton and cooperation are the order
Germany They must likewise be the
vatchwords Of the United States.
though doubtless each country will
apply these ideas in different ways
and in varying degrees, In all three
countries a period of reconstruction
will inm ediately follow the war. In
this country q mass of existing legis-
lation will undoubtedly be swept
aside. Many Of our laws are even
Now a dead letter. The Sherman
Antitrust Law and the La Toilette
Shipping; bill are both in the scrap
heap. SO is much of our railroad
legislation. which has been a night
mare for years. OF what consequence
Tow is the once dreaded Interstate
Commerce Commission? Where is
the, tariff, and what are we going to
do with it? What about our foreign
treaties and foreign policies after the
war? What about the activities Of
cur Department Of Commerce and
Department Of Agriculture and the
War Board? How far will they be
maintained or expanded? These and
r,any other like problems must
shortly be met; for we are already
or the verge of the reconstruction
| rcriod which means so much for the
! A remarkably steady tone prevailed
| in the security markets, despite un-
| favorable news from the front. There
! was a decided resistance to bad news
! and a readiness to discount good news
! This could be partly explained by thu
! fact that the market is we'll sold out
! that the supply of floating stocks Il
exhausted that new offerings have
! pra ctically ceased, that speculation j
i at it's lowest ebb, that the railroad
are now doing better under govern
, ment protection. and that the big wa
! industrials are making liberal profit
! Notwithstanding war taxes and IN
! creased costs of production. The rea
son for this confidence in financial cir
cles is also partly founded upon tn
coming Of General Foch with Frencl
! achievements, and unquenchabl
faith in an Allied victory: government
bonds Of all the Allied nations havfn
| been slightly affected by recent mill
| tary reverses. Certain it is that OPP
! timisrn Is universal among the 1nne
| financial circles, who get no little IN
| spiration from the magnificent cour
age Of those at the front, as we'll a
those who quietly suffer and endur
at home. HIN KY GLE w .