davidaulloa/AmericanStories huggingface dataset:
New-York tribune., 1918-02-24
Tradition

W. Cit has been stated that tr.
uition had the same value as history,
end that the older the tradition the
nearer it came to truth. Is this true
By no means; and the older the ira
dtion the greater the probability of
its deviation from truth A simple ex-
rerience will show the correctness of
this statement. Just relate some event
TO some friend, and let him relate it to
some third person, and so on, until i,
has been transmitted 10 twenty per
sons. and you will be surprised at the
original narrative during the shori
course. The reason is very plain. II
we assume the probability OF the faith
New-York tribune., 1918-02-24

on the figure ct which her paper stands
on the money market, and to-day it has
fallen to a heavy discount. This means
that she will have to pay relatively
high price for goods in the rough, while
trying to compete in unfriendly markets
with nations who will have the ad-
vantage of cheap material. Yet it will
be only by succeeding in this competi-
ton that Germany can restore her ex-
change to the normal. Hence the i'm
portance to her Of dominating Russia
industrially, and on her own terms.
With the Allies controlling tonnage and,
therefore, raw materials, as imported
overseas, Germany may find in her
anarchic neighbor her only hope Of an
industrial resurrection.
You will see from all this under
what an inducement Germany lies
toward acquiescing in some kind of
disarmament. Many of her shrewdest
thinkers must have come to the con-
clusion that war is a game that every
"oNy S"Al AiO" PtHy anu tHdC IL no
longer presents special advantages for
the Fatherland. Her rapid industrial
progress has been rudcly interrupted.
Her economic penetration of many
countries-Belgium, South America,
Russia, even Australia-has been
turned to bitter controversy. Her only
hope of making both ends meet is to
save money and man power on hcr
army and navy.
Hence the desperate uneasiness Of
that part of her press which is con-
trollcd by the Krupp firm, where the
Kaiser has money invested. The mill
tary party in Prussia does not serve
the god of war for naught. Killing is
for them lucrative vested interest, and
New-York tribune., 1918-02-24

pledged to banks and lending institu-
tlons. Loans on such assets have been
invested in government securities. The
securities have then been taken back
to the banks and lending institutions.
which have granted fresh loans for in
vestment in further government securi-
ties. These, again, have been "pawned"
Tor yet further loans, destined for fur
ther investment. SO the process has
gone on. until you have had on one side
series Of liabilities shouldered by
the citizen against which are deposited
assets secured by the state. Repudia-
tion removes the assets, as thus guar
anteed, leaving the liabilities in the air,
and the individual citizen who relies on
the assets becomes n bankrupt, while
the bank OR lending institution which
relies on him, falls down fiat. 1t is
perfectly true that reputation saves
taxes. 1t also cancels income and
makes hay of balance sheets.
The Price at Which
She Must Buy
Moreover, Germany's revenue de-
ponds on foreign trade. That trade is
to-day cut off and it will take many
years to build it up again. For the
maintenance Of her commerce Ger
many has depended on importation of
raw materials from abroad, and, won,
derful as her staying powers undoubt-
edly are, no sane person believes that
she can resume operations on depleted d
stocks.
Before she can sell the finished prod
ucts Of her factories she must re-
plenish her reserves of wool and cotton
and mctals-especially the former. The
price at which she buys will depend
New-York tribune., 1918-02-24
Ptunder SO Far Trivial Offset to Vast ExpensesLooting
OF Russia May Offer Only Chance Auoid National Peny
Britain Now Raising Income That Exceeds After Charges

course, he had no interest to pay. Cur
famine figures, thus affecting every
cupboard in the country.
Germany must either follow this
rake's progress or take her courage
i'll both hands and tax her rich
people. These include her princely
houses. which have been moro or less
immune from such vulgar levies; (;
also her junker landlords; and her
great national liberal" captains of
commerce. The French clergy and aris-
tocrats bluntly refused to pay up
when demands were made on them,
and it was their closefistedness which
despite all the arts of Necker, brought
down the monarchy about their ears
We shall see whether the more dis.
ciplined patriotism Of the Fetherland
enables the financiers to make good
their toll on the resources of the men
who surround and support tho Kaiser.
In any case they will be disillu-
stoned. This impoverishment is not at
all what they expected from the great
war for world dominion. Indeed. it
is the dread Of having to pay their
due share of taxes which largely ac-
counts for their opposition to fran
chise reform.
In every country the vote controls
the purse, unless the purse can con-
troll the vote. One or the other must
be master, and a ballot that is univer-
sal and secret cannot be easily bought
Here I shall be told that Germany
will simply repudiate her debt and go
on as if nothing had happened. This
happy suggestion is the more plausible
because her debt is held chiefly by her
own peoples, and it is rumored that
under the guise of a levy on capital
Great Britain is thinking of much the
same device. On this suggestion about
Britain will say word in moment
but on reputation for Germany OF
any civilized state I must make it plain
that you cannot repudiate the multipli-
cation table. Borrowing is not ficti-
tious make believe. 1t is the use with
out payment of services actually
rendered and goods actually received
Every Asset in Country
Pledged to Bankers
And in Germany, consider what has
happened-every asset in the country
New-York tribune., 1918-02-24
England Now
Americas Debtor

Broadly speaking, where hitherto you
in America have been debtor to US we
are now debtor to you. Even Japan
has devoted her war profits to buying
up loans previously placed by her in
London, and she is now actually join
ing you in financing our purchases.
Before the war our total assets held
at homo and abroad were about s24,-
000,000,000 1920, 900 900 O00)-roughly,
half yours. This colossal figure is again
an estimate, but it means that if our
war debt is Gso0,0o0,000 we shall have
used up one-quarter of our accumu-
lated wealth.
On the whole it is the educated, we'll
endowed classes who determine the
destinies Of nations. They have great
influence. Usually they fully deserve
it, but it is, perhaps, good thing
that they should learn once for all
that wars must be paid for at the time
and not bequeathed as legacy on the
wrong side to our children and chill
dren's children. If the German ruling
classes had foreseen the immediate ex-
pcnse Of this war they would never
have entered on crimes so destructive
of their own ease and luxury. A
similar disillusionment will do no
harm elsewhere
New-York tribune., 1918-02-24
How Is Her Debt
To Be Paid?

l agree that Germany may thus taa
herself. The thing is possible. Blu,
the thing is not now beng done. Ger
many's mounting debt is virtually un.
secured by any provision for payment
of intcrcst-lct alone redemption OF
capital--and the fixed charges OH this
liability are met by fresh borrowings
Tho position Of Germany's cxcheque1
thus resembles that of France in tho
thirty years Of the eighteenth century
which preceded the revolution. Living
on capital can 60 on for time, but
in the end reckoning comes. The
final resort by Louis XVI was simply
to multiply paper money on which, o1
New-York tribune., 1918-02-24

Turkish War was roughly speaking $780,
COO men. That army fought the Turks.
the Bulgarians and tho Albanians be-
fore the outbreak Of the present war
Then came the attack by Austria and
the first SeIbo-Austrian campaign Of
the present war This ended in the
complete rout Of the Austrian army,
which was driven m confusion across
the River Drin. Unfortunately. the
losses Of the Serbian army did not
cease a, the moment Of the cessation
of hostlities, as an outbreak of typhus,
brought into the country by the Aus
trians, swept away the army and the
population by the tens of thousands.
The result was that the Serbian army,
at the moment of the attack in October,
1915, by the combined Austrian. Ger
man and Bulgarian armies. 100000
strong, was reduced to about 250,000.
This included the very latest reserves;
men of eighteen and men of over forty
five.
During the two and one-half months
fighting against such tremendous odds
the losses were naturally very great.
When the Serbian army was finally
driven to Prizrend, on the Albanian
frontier. its ranks had shrunk to con-
siderably under 100000 men. When it
became known that the government had
decided to leave Serbian territory and
seek refuge in Albania large number
of desertions took place. Thousands
died of starvation in the desolation Of
the mountains, with the result that the
troops which the Allies were able TO
transport to Corfu numbered less than
10000. When the work of reorganiza-
tion was completed, the Serbian army,
ready to take the field, had shrunk to
about 100000 men.
The reorganized Serbian army was
thoroughly equipped with transport, ar
tillery, pontoon trains, telegraph out
fit, etc, furnished by the French This
army took the field for active opera
tions toward the end of July, 1916, and
was given the task Of reconquering the
plain and the mountains of the Moglene
and the plains of Monastir. This task
it has practically accomplished. all of
the armies, with the exception Of the
Second, being now on Serbian territory.
There is every prospect that the Sec
ond Army will also, at an early date,
traverse the mountains and get into
line with the other two.
New-York tribune., 1918-02-24
By p. w. Wilson
American Correspondent of "The London Daily News"

rSHIs week purpose to deal, SIM
p,y and broadly, with the finance
i Of the world war. Many people,
am we'll aware, consider that the
.Im;ehty dollar is negligible factor in
.h;s vast earthquake. and agree that
.a+;ons when determined to cut one
.,o+her's throats, can usually find the
.,onev for the job, either by coming 1t,
,v stealing it, or by issuing mere
nrnted paper.
The old Spanish kings kept their
wars going with West Indian gold. The
r..rch Bourbons circulated promises
nav Napoleon combined such
.,.asss with more solid plumber, and
r.. ;s in general terms, the kaiser's
...od The Allies, while raising some
.,rue. are depending mainly on
.roa;t. and I am not surprised when'
vrder the circumstances, I hear it said
49,, bankruptcy is hardly worth analy-
:. because it appears to be universal.
p,. must make answer that, how
...r slight may be the attention which
,ov devote to the financial aspect
:. things. such silent influences will
;n.vitably reassert themselves when
,,e turmoil is over. We want TO ask
..,.e1ves how Germany's appearance
'. victory to-day will look ten years
hence. 1t is the sequel to war 'ha'
matters, and this sequel is largely de-
tcrmined by finance.
The Spanish kings and the Bourbons
.,d Napoleon ultimately failed, be-
..,s. the monetary thermometer rose
.r.;nst them. Their insolvency became
;rreparable. And if, after losing AL
.,c..Lorraine in 1870, France gradually
I rscoyered her strength and added vast
territories to her empire, it was be-
cause she was-strange though 1t may
seeu-stronger than Germany in care
fully carnered resources; this despite
.hs navment of what was thought at
.he time 70 be a vast indemnity. Ere
ouentlv in British history the actual
war on which we engaged looked far
from resulting in a triumph, but when
n.ace came it was apparent that a
longer purse had secured for us every
thing for which we had any right to
AIM Unless Germany's successes IN
cude finance, they will prove ultimate
" 10 have been disasters.
New-York tribune., 1918-02-24
'y Mrs. Princess B. Trowbridge

BY Mrs. Princess B. Trowbridge
|nFTEN mothers say to me: Don't
~ all the things you do With your
children take most of your
ume!" By no means. | am mother
Of three and do all my own work, ex-
cept washing and ironing, and l have
to do sewing without end
A busy mother will make suggestions
which can be carried out while she is
busy at her household tasks. Stories
may be told; for instance, baking will
suggest the story of "The Gingerbread
Man." This can be found in "Best
Stories to Tell to Children" by Sara
Cone Bryant. PAIRING an apple or a
squash makes the opportunity to tell
about the seeds hidden in their cradle
how in the winter they go to sleep,
and so on. Make whole story of it.
A few days ago l told my threeyear-
Old baby this story and sang to her:
y know of a baby so small and so good
Who sleeps in a cradle good babies should
Sleep, baby, sleep.
NJ know of mother so kind and so warm.
"ho covers this baby from all cold and harm
Sleep. baby. Sleep
Several days later we had another
squash to prepare, and Immediately she
SAID, Mother. sing about the baby"
later, on request, she told her older
babies.
IT is we'll to make much Of holiday
eeieDrations. Have the children pre-
are little gifts for birthday. Per-
"aps It may be only to draw picture.
Making Paper Toys
r. On Valentines Day we always make
ra!ehtlnes. Use scrap pictures and
taste taste them on colored cardboard. Or
s voc paper doiles, cutting out the centre
~ R;et, pastlng on piece of cardboard.
n,sn an appropriate picture under
a;salh. ,;n0 This makes pretty little valen-
rnn ,'ne OF paper lace. Cut out hearts of
.sa cardboard or paper and string them
h, hlvsssner IN graduated sizes on red rib.
AT Christmas time even the baby car
New-York tribune., 1918-02-24
The Demand for
Tax on Capital

AT the same time rich men in Britain
which means men who are about half
as rich as they used to be-are asking
whether it would not be a good thing
to escape from the burden of taxation
by. cutting the loss, once for all. Hence
arises the demand, by no means con-
tined to labor, for a levy on capital,
Ihe present position is that Mr.. Bonar
Law will agree to this device, but that
1T must come-according to his ideas
after the war
Let US suppose that our national debt
then amounted to s6,O0O,OO0,o $780,
Oo0,000,0OO). The interest would be at
least s3o0,000,0o0 (s1,50O,0 ,00o, ,0OO), and
We should have to find another 100000
oOo ($300,00O.C00) for sinking fund or
redemption. Now, it happens that a
considerable slice of our revenue is de-
rived from the property of people as
they die. Before the estate is handed
over to the beneficiaries under the tes-
tator's will death duty at varving rates
has to be levied. One plan for taxing
capital IS to reckon everybody to be
dead In one year and so charge death
duty or inheritance taxes on every
estate in the country simultaneously
This would furnish f3.000,000, ,O00-so
L am told by advocates of the scheme
or half the national debt as esti-
mated above, and it would leave the
ether half still owing. Ten wears
hence, by killing ourselves a second
time, we might clear off the rest of ou,
liabilities.
New-York tribune., 1918-02-24
Very Heavy
Recent Losses

The actual fighting force at the COM
mencement Of operations was about
10000 bayonets, the remaining 10000
men being either soldiers of the Third
"ban," too old to stand the fatigues
of active service, or men employed on
transport.
The difficult nature of the country
was all in favor of the enemy, which
was intrenched in the mountains. The
operations to dislodge them cost the
Serbian army 5000 killed, an unusually
large proportion being officers.
New-York tribune., 1918-02-24
Those Opposed to
Levy on Capital

Against the levy on capital certain
arguments are seriously urged. 1t is
said TO be hard on the man who has
made a special endeavor to save lit
tie nest egg. Why should he be taxed
while the spendthrift who has put by
nothing for rainy day goes free?
Again, what guarantee is there that
the relief of taxation will go to "in-
cones? May not the wage earners
who ere immune from the levy on
capital come in and say that duties
en- tea, sugar and tobacco must first
be reduced? Anyway, it must not be
supposed that the British government
viii ever go free of debt.
Immense sums will be invested in
productive entcrprises-ra railroads, land,
housing, mines, and so on-and these
investments, though yielding a return,
will have TO be classed as liabilities.
Out of this situation serious labor
problems must arise It has yet to be
shown that a constitutionally governed
state can safely employ millions OF
its citizens whose votes are available
for wageraising demands.
But have wrieren in vain if I have
not shown that large and courageous
conceptions OF financial policy animate
British craftsmanship at this period Of
acute emergency. when every silver
bullet" tells.
New-York tribune., 1918-02-24
many Of them will cease to be rich if

many Of them will cease to be rich if
it stops.
| must now say word about British
finance. We have no need to conceal
the fgures-they are open to all the
world-and we are, perhaps, little
proud Of them. Up to January IL we
had spent during the war 1886, 100000
(roughly s31,sSo,ooo, ,ooo). OF this sum
we raised by revenue 100000
($7,590, 200, ,000), or nearly a quarter. We
therefore borrowed G4,s5S 100000 ($24,
200,0O0,000). On this we have to pay
about S per cent interest on the aver
age, or G249, 100000 year (s1,245,00o,-
000). 1t is colossal sum. It is S40, ,000-
900 ($20O,00O ,000) more than the whole
of our public revenue before the war.
But, unlike Germany, we are more than
meeting the charge. Whereas in peace
time our revenue was 100000, it
is to-day e700000,0O0 (S3,500,0 ,000,00o)
There is clear $500 900, 900 with which
to meet the charge of 100000. In
fact, our annual revenue to-day is equal
to our whole national debt before the
war. That is what mean when I speak
of financial victory.
The load borne by the people is, of
course, tremendous. Before the war
public revenue absorbed ona-twelfth OF
the national income. To-day it absorbs
one quarter. am told that in Napo-
leonic times we actually paid one-third
of our income in taxes, and in the
cause Of liberty wc will do it again.
Also, shall be told that I have said
nothing Of the immense sum due an
nually for pensions to the disabled
That admit. 1t may come ultimately
to s5o,ooo,oOo year $3.50 ,oOo, ,ooO. On
the other hand, Of our war debt more
than a quarter-that is, il,250, 100000
Csc, O,000,000) has been lent to al
lies. The question whether Russia re-
pudiates her obligations is thus for US
Of considerable interest. Hundreds Of
millions sterling are involved. Still
these loans do, on the whole, represent
an asset. Taken one with another
they are to-day worth so per cent of
their nominal value. And this is some
setotf against the charge on pensions
New-York tribune., 1918-02-24


gether into one heap, and add her ex-
pectations to it, we are still far from
amassing the total assets needed to
compensate Germany for the money
which she has expended on preparing
for and waging this war.
Germany Losses
Many and Vital
Moreover. against the gains must be
set certain losses. The many millions
that she has spent on her fortified base
at Tsingtau, in China, must be writ
ten off as nil. Her wireless stations,
all over the world, are now either
wrecked or captured. Her merchant
navy is reduced by one-half. Her Bag
dad Railroad, which was to her small
investors what Panama and Suez were
to the French, has gone. Her vast
banking system, which included the
control of many mineral fields within
the British dominions, has been shat
tered, so far as London and all that
London means for finance is concerned.
Against such calamties as these, the
pilfering of country houses and the
/ temporary employment of multitudes
of chattel slaves are no real Offset.
And above and beyond all such items
must be set the drain Of war, amount
ing to at least $20.0o0,0oO daily. If
Germany has ripped off metal from her
rings for iron, collected even her sill
yer currency and Communicated jew
elry, it is because the fruits of her
internal vandalism do not seriously
pendous conflict.
l do not pretend to estimate what
precisely are her liabilities. Her i'm
peral bookkeeping is conveniently in
termingled with the budgets Of her sep
arate states, and one vastly important
element is the annual charge which
she must meet for pensions to disabled
men and orphaned families. But
snail not be lar wrong in saying that,
on the whole, the people of Germany
will be called upon, after the war, 70
find an extra revenue Of $4,000, 100000
annually if they are to balance their
budget.
1t is a charge Of $50 year for every
man, woman and child in the country,
IN addition to prewar taxes. For "a
home of five persons it is $3.50, or So
a week, and the majority Of such
homes are poor. With the tax gatherer
thus acting as pcdagogue Of kultur, the
great victories of this spendthrift des-
potism will wear more sombre aspect.
New-York tribune., 1918-02-24
= Germany Foot Her Bill for Spendthrit Despotsn1?

even a shipwreck furnishes salvage
And some, at least, of our outlay is
covered by huge accumulations of ma
chlnery, raw materials and realizable
paraphernalia. During the years Of
reconstruction q reasonably careful
wind-up of the war will bring in enor-
nous sums to the Treasury, win which
money we shall meet the cost of de-
mobilizing our armies. We have spe-
cial committee thinking out this busi-
ness in advance, and DR.. Addison, who
was our Minister Of Munitions, pre-
sides over this body. Prospects of
trade are carefully analyzed, and are
by no means unhopeful. And, while
the struggle develops, fierce as ever,
we do not want peace to find US un-
ready.
Still, it is obvious that, as the war
goes on, finance must be for US, as for
you, an anxious subject. For the first
time our dominions are shouldering
national debts on an Old World scale.
We have even accepted 100000, 900
($5O0,0 0,000) from India. Some
nervous people tell us that our revenue
Of e700,00O,000 (S3,500,0O0,000) will
collapse when peace comes, leaving us
with heavy deficits to be made good
by fresh taxation. 1t is quite true
that s2oo,ooo,Ooo $4,000, o,ooo,ooo) in
this present year is due to excess prof
It's, which will be untaxed, especially
after the war; but, on the other hand,
such profits will then come under ordi-
nary income tax, and, with the liberia
.lon OF mercantile tonnage, there will
pe considerable recovery in customs
and excise. 1t nearly always happens
that our Treasury does better than the
pessimists anticipate, and. serious as
are the prospects, one INDUCES in a
chastened confidence. Provided that
we keep our people at work, we shall
quietly but steadily pull through.
New-York tribune., 1918-02-24
Queries and Answers

tul transmission of the account by
every one Of these persons to be equal
nine to ten-which is putting it at a
very high tigure-we find that a report
obtained in this manner, after being
transmitted twenty times, has but y
plooaplhty OF o.l22; that is to say. you
can wager to that the account does
not perfectly agree with the truth.
New-York tribune., 1918-02-24
Child I raining at Home
By Mothers Who Have Been kindergarten Teachers

Ihas the Seventeenth Of Of articles prepared dr the drec
ton Of the United States the National Kinder
Saen association Each ritte by cho has put her
"ang INTO practice ih her children and mbodes the sdo
she has learned s articles helpful to CIT
Uncle
reaching all the mothers Of the country
New-York tribune., 1918-02-24
Meeting Cost Of
Demobilization

Also, it should be mentioned, that
reconstruction after the war will be, in
our case, costly process. Some pessi-
mistic persons declare that we shall
spend on it e1,oOO,OO0,0O0 (S5,000,-
600 ,000)-all borrowed. I don't believe
it. War is usually sheer waste, but