The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1918-02-14

.' H
lion Tor tlctur,
Aside from this event there has
been "a suh-idynco Of peace rumors
thi. week tld 20 consequent decline
&c optimism That distress ana in
tctual discomfort are widespread in
Germany. Fastening the termination
Ut the war. D.. well known over here,
bat 1t beg uuwis, go undcrrnt' the "n-
dtrancc uf Germauv's military ma
elinc, which has 90 firm rrip upon
the home situation and wii suppress
&C. uurisines with De- r%clcutlrss hand
What with nm uubrokcu military gov-
prumont on Inc one hand and the
cnurl,teristic rcu1y submission of the
tiormnn people 90 Huthurity aud s-
tenn nt an times. the immediate out
icok Tor any internal uprising that
would quickly terminate the wnr BE-
NOT over encouraging II b. true tr5t
.HiiticHl d@isscntious In GERMANY Jrr
growing very rapidly. ana that "puJ,
fi,p. iu f,ussi3 and Austria are hirL-
h confusing but 1t must hc rcmcri
h,red that iu Germany tho people
natr uu means of expressing their
viii such us exists bee 'hc Unite,
-tIt,a France coz England FuI all.
practical purpose th, political pow
en- 90 GERMANY is entirely boz tho hands
lt the emperor aud his militlr, Id-
,i-crs. who huy, nothing Co rliu o.,
l,tD, unless con choir own terms.
which I- every nation but German,
knows ore impossible TIM. war must.
therefore. boz one at exhaustion or at
tritiuu victory comiur uul, to th"
one -lj" which can 1u tho greatest
killing. such d. the horrible. yet per
fyDilN logical outcome Of the crime
vi uilItlri-m
Initiative of am Sind. i~ almost en-
trtIy concentrated ut Washington.
whittier Il has drift,d truw nearly an
the great industrial and financial cen
i.ra. Whether It is q question Of fuel.
poo clothing transportation, finance
ur Uluuttctur, 800 these great divi
-,ou- ut cuisines ,uJ.lyur have fall
90 more or less completed, under th,
rrcll of government control, and the
process o. still going uu At first our
business icuncr- were summoned tu
Washington fur advice thcu the,
N,luutoorrd for service. then FOR Va
90 a reasons many returned. and fin-
w IN, administration assumed clu--
OIL, and clu-yr control over Nariuu.
Industries. until .u some cases. mott
sllN iu transportation. DO has Euu
about as far Be-. possible without act
uul government ownership. and Iu
the case %. hips 100 foreign trade,
ownership I- tlrrnd, am actual fact
~ course these revolutionary steps
were proposed Iud Jccyp'., co.. pure
ly war Iu'H-ur.. because the n"D"--
s.uy concentration and cooperation
uu "a vast and intcuslv, scale could
Doe acc"mplish,I m no other fashion
such % whuI..fl. renrJuetuvu' of
our busiup. ut,hiucr, no 20 time
whom iudustrir- most affected h, the
wa wore under Intense pressure.
meant 90 largo dcrrc, OF confusion
ami Generalization Tho sweeping
change, 'hu. u,1. necessary -'riuu-
.y impaired the iloral' of barge iu-
dustrio- Iu rnnE and flc and among
fhc hluhor officials. seriously delaying
production OBJ wttcri#il. counter
Jcf,ui th, effort. rur u,.Huu- up
FnN oitiyinn.E therefore. lfs TOGO
u.t'u "eru moro . matter af tails
than accom- Ii. uI.,ut. and thp admin
istratiou has hu' to furc some husiil,
criticism which hlH the desired off
feet ot stimulutIrr effort and b. Ie
60 Doe hoped win result DOB elimination
of amy Iu,.i,.eurf N- H.HttyI of
Justice it uue' hr -aiH thHt -h. t1
miuistrttiuu hH- uu i. nuud hcr
culcuu job. chat its hort ,uu..r-. ff
my were nu worse than u.ruf have
been expected. thHt ai,-r great
thiuE- hui been acrumrN NrI and
that when th. new illustrator.
have become accustomed fu tu, Now
order ~ things. the wurIfr- of rHa
government tud the iudu rrIr- urt. d.
iH control would hccuu nur.
factory.
one of The most Important prupv.
from Washington b. fur tho creation
At % u".HuU.u "O financial Institution
70 AID aud finnuo, tu, essential vH
industries and rogulHt, new ucurits
issues. \ him for tins purpose is now
before congress and lts urupr.ctN viii
mo- doubt Dee thoroughly discussed
some time ago % wi- proposed that
% subcommittee uf the federal reserve
board. aided by 8n advisory commit.
tee of banks ana bankers. should -u-
pcrvi-c an new issues iuC thIs meth
ud wls ftyorahly received. 70 similar
plan iu Great Britain having worked
very -a]tisfartoril, This would seem
10 bc a more desirable schrui, than
the control OF such issur- ly the new
government bank Another objection
To- the latter uruircf BE- thr proposed
owor go issue $1,000 uuu.uun ct short
term notes suhIuut Co rrdlaruuut It
tho federal reserve hark a power
thlt mirhr c5sil, cmhHrIus- that tu.
@sttutiou Jt % critical period and might
also. uDatr excessive and hazardous
Initiation of credit such % bank e..
suggested would have extraordinary
powers uut us u is proposed that I'
should b, controlled 3D., a bu.rU APP
pointed uy the Secretary cot thr treas
url 1ud responsible ALSO tu the prcsi-
tent ~ the United Stoto- the plun
has the weakness Of r,po-iur toe
much power Iu The, hands of uu" ur
tWu w.u whu urr alr'uu, overload
od with htDk-uronkiur responsible
tees Moreover DO such am institution
i"ll into lu- capable hands. the risks
would Doc vastly multiplied Congress
Will du well Co consider this hnl strict