The Robesonian. [volume] (Lumberton, N.C.) 1870-current, 1918-01-07
OUR FIRST YEAR IN TIE WAR
Two Momentous Events Mark the
Year 1917 as an Epoch in the
History of the World.
New York Commercial.


History of the World.
New York Commercial
Two momentouS events mark the .
year 1917 as an epoch in the history
Of the world. THE Russian revolution
and the threatened disintegration Of
that great empire, and the entrance
OF the United States into the war and
the field of international politics have
recast the alignment of the belliger-
ents and bid fair to change the des-
tiny Of the civilized world. The prog
ress Of the war during the year has
been less important than either of
! these events, for they will have more
to do with its outcome than the fight
ing that has taken place in the fled.
Russia has failed to do her part
and has prolonged the war which
might have ended had she held the ar
mics of the Teutonic Allies on the
Eastern front and saved Italy from
the drive into the Venetian plain. A
separate peace with Russia will give
the Central Empires the food, ellis and
many other supplies they need so bad
ly, and Will nullify to a great degree
the efficacy of the blockade and the /
era5argoes on shipments to neutrals ,
contiguous to Germany. Russia's (
, plight is desperate. Her trea cherry to-
wards her Allies may cause them to
4 throw her to the wolves. The Central
: Empires will sooner or later take
! what they please and impose their
, own terms upon her if she cuts herself
loose from her friends Japan has
n notified the Bolsheviki government
:, that she will seize and hold Russian
I territory if Russia does not pay what
she owes the Mikado's government and
). subjects. This threat was probably
# made with the knowledge and consent
Of Japan's Allies and it therefore is
Z. fraught with deep signifance.
Il America stepped into the breach
20 when Russia broke down and thus re-
,e stored the supremacy Of the Entente
Id Allies in men and resources over the
" pared for war, but the Federal gov
d. eminent has accomplished wonders
w since last April Notwithstanding the
1e carping criticisms of members of both
Is Houses Of Congress and of some news
st papers. We have about two million
men in service or in training in the
Id army and navy and substantial forces
a Of effectives in France details of which
he cannot be published for military rea
n sons. Our navy is doing its bit il
rn protecting commerce and extirpatinf
k German submarine pirates. We al,
&C. building merchant ships rapidly IN,
ed in the Administrations ambition
he shipbuilding project is already done
or Our Liberty loans have been success
,st fully floated and the sale of war thrift
OIL stamps is so large that the govern
ment may be able to postpone the Of
fer Of the third Liberty loan until mex
40 spring. So far we have profited b
the experience of England and hav
done much better than she did in he
first war year. Pro-German attempt
5u- to make the war unpopular have fai
IN ed and Senator LaFollette is the onl
IL avowed recalcitrant now in Ccngres
IN Those who stood beside him whe
OF Congress was discussing the declar;
ION ton Of war have deserted him
per President Wilson has become tt
as spokesman of the Entente Allies.
!. full report Of Premier Lloyd George
ect latest speech proves the British 90
er- eminent to be in complete accord wi
ust our President in saying that victor
Ger is the first essential not because
the any desire to punish but because Y
are realize that victory is the only thil
Ger that will give reality to peace tern
rly Germany must give guarantees
peace and her people must choose b
&C tween "the destruction of the Pru
all sian military power" by those who a
mas fighting for democracy and freedo
en- and 1.-The characterization of the &c
mas man government. Without the Il
ent ter, as President Wilson says,
vlo- might be impossible to admit them
or the partnership of nations which mt
henceforth guarantee the worl,
peace.
In domestic affairs the event of t
airy year came at its end when Preside
for Wilson Communicated the railroa
1t and put them under the control Of S,
men rotary of the Treasury McAdoo
only Director-General of railroads. If c.
re- gress ratifies the Presidents reco
'unt mendations regarding guarantees
cad interest and didivends security no
TAX ers will probably be satisfied with |,
it. ing control Of their own property. T
- railroads will not have to compt
~ with the Federal government for me
ey to buy rolling stock and make
: pairs, and this will tend to make t
II money market easier.
~ The Federal Reserve system wit
= stood the most thorough and tryi
~ tests conceivable during
- year. The whole world r.
~ cgnizes that the United Sta
has the best banking and cure
- cy system in existence and the wonc
of it all is that this reform has CO..
~ about since the war broke out in
gust, 1914. The system had no char
to get on it's feet before SUSTAIN
4 !: ! I {" !
II the shocks of war times, but it was
- firmly founded that it has prove
ed panics on the one hand and equa
dangerous initiation on the othe
Within year the value of securit
\ listed on the New York Stock I
- change shrank fully three billion d
lars. In former years this would he
caused a panic as serious as that
1898, but these losses did not aft
trade because commercial banks W.
not involved.
Commodities were very high in Or
and scarce in market offerings.
~ ton sold at the highest prices in TO