The Washington herald., 1919-03-19
WARNS AGAINST
TRADE MENACE
Says Holland,
Has Given Timely Advice
To Curb Bolshevism.

q, Frank A. Nanderlip. in the inter-
. view with him which was published
. tsw days ago. spoke In detail of
. conditions in Europe concerning
: which the public was in ignorance
. but of which the leading men of
, hnance and some of the leaders OF
, Industry have already had knowl-
edge and in private haYe much dis
. eussed. Mr.. Vsnderlip has been in
the past fairly accurate in his
: sstatements reflecting business. A.
> nancial and especially banking con-
: pitionS. Two or three times he has
: spoken OF conditions OF which the
. public and. in fact, many bankers,
/. bad no knowledge. He has advised
: the hauling in OF sail, the curtatl-
. ment OF loans, the preparation for
. sta gnatlon and Generalization OF
: which there is no visible proof when
. he spoke, and he has been for the
most part accurate in these predic-
: tions.
: Some of his friends think that he Is
: more disposed toward caution, even
. to slight pesslmlsm than to an op-
4, timistic view. This tendency. how
, ever. does not explain the somewhat
gloomy statement which he made in
: the interview. He spoke with the
. Furthermore. many Of the things
which he mentioned as containing ele-
+, f1ents OF serious peril, even threaten
ing modern civilization. have been
7, known 10 leading Americans for some
. time. 1t would be dificult TO ind
leader in the financial district who. IL
= he were persuaded to confidential con-
Hersation, would not say that his in
: formation from Europe was far from
satisfactory. and that unless there
f, we're a speedy change conditions there
, might be as appalling as they were in
: days when the German armies seemed
to be almost on the verge Of victory.
Mr.. yandeIip's View.
. Many OF those who have commented
upon Mr.. Vanderlips interview have
also spoken of the highly significant
and monitory speech which was made
. by the Secretary OF State, Mr.. Lans-
ing. at an important dinner in France
and made at almost the same time
when Mr.. Vanderlip was speaking for
publication. sn that the American peo-
pie could have some understanding of
the European situation. 1t was OBJ
served that both Mr.. Vanderlip and
Secretary Lansing intimated that
something constructive. peace procur-
peril Of the overthrow Of European
civilization Is to be averted.
Secretary Lansing asserted that Ii
was vital that two measures be i'm
mediately adopted. one being the per
fecting Of the peace treaty and the
other being the providing Of food for
Germany, which must be done in
great measure by the United States.
Mr.. Vanderlip. Il has been observed.
goes much farther than Secretary
Lansing did Our Secretary of State
looked at the condition from the point
Of view of an experienced lawyer and
a competent diplomat Mr. yanderlip.
highly equslihed as he Is by years OF
slccsssfn experience a., - nksE.Ssnd
oS intimate association with some OF
the more important corporate interests
in the United States. looks behind or
beyond the prevailing conditions. seek
ing to find a permanent remedy. He
seems to have discovered it in such
action as will make possible a speedy
renewal Of the production Of COM
modities with the promise of produc-
ton on so large a scale that the
needs OF Europe, the welfare OF the
working classes and ultimately the
securing OF a sound financial basis
may be obtained.
That is the view taken by many e
the financial leaders. 1t is observed
that when they speak of the con-
stemplated league of nations they do
50 in the hope that II will be so con-
stituted as speedily and greatly to
stimulate production. It Is a mistake
to surmise that any men of influence.
at least in New York, are opposed to,
a society OF nations. On the con-
trary they hope that one may be
established, but so written that the
United States can willingly and en-,
Enthusiastically give its support to the
project Nevertheless, they believe
that at the present time there is
something more important than the
establishment OF a league of nations.
They apprehend that league or
this kind would be of little avail un-
Jess there were first established peace
with Germany and an earnest en-
.deayor to aid Germany In recoverin.
from some OF the economic efrect, OF
the war. Not that there is any fond
ness for Germany nor any disposition
TO tighten the burden OF the obliya-
sSions which must be the lot of der