New Britain herald. [microfilm reel] (New Britain, Conn.) 1890-1976, 1923-09-14
EUROPEAN SITUATION DISCUSSED
BY BABSON-EFFECT OF NEW WAR

Wellesley Hills, Mass. Sept. IA
What would new European war DE-
to business?" The question was pu
to Roger w. Babson as he was read
ing q mass of kilograms and cables
coming In from all parts of the world
asking what effect another European
war would have on business.
1T seems Uncomfortable that Eur
ope will permit herself to get en-
tangled In another war at this time, y
he replied. yet conditions are far
more favorable for a conflict today
than they were In 1914. Moreover,
the wisest students of international
affairs have been predicting for some
time that another war is sure to come
and that 1t will again begin in the
Balkans. Doubtless the Greeks killed
the Italian commission In cold blood.
Probably 1t was no accident Greece
feels very bitter toward the rest Of
Europe. The Greeks believed that
they were a great factor in helping
the Allies whip Germany and that
the allies later double crossed'
Greece in favor Of Turkey because
Turkey has oil and Greece has no
oil ! The Greeks felt that there is
nothing more they could lose and that
perhaps they might gain back some
thing out of another struggle,-at
least they would have their revenge.
This was the situation. Italy's self
respect compelled her to take some
action, but hope this affair will
quickly be settled and forgotten.
How much further trouble will
develop, only time can tell. The
trouble between Italy and Greece is
not the only European tangle which
must be Strengthened out. If another
real war should soon develop, it now
looks as If Germany would line up
with Greece and Russia, and that
France would back up Italy with the
help of Turkey. Were it not for
Egypt and India, England would keep
out of 1t this time; but with her great
interests In the East, no one can pre-
dict what England will do. 1t looks
now as IL Germany might be the real
winner in such conflict.-at least. it
would take Frances mind off rep
arations' for while, and perhaps
make the league of nations a greater
force for good. Now that the allies
have given In to Turkey and re-
turned to her SO much that they had |
taken away, It is great temptation
for some of the other nations-like |
Russia, Germany and Bulgaria-to try |
the same game.
LAS to the effect on business in tho !
United States:-of course the tempor-
airy result of another European war |
would be upsetting to business in
many lines. Any shock Is unsettling
and disturbing. This explains the
action of the commodity market and
the stock market during the past
weeks. For six months following the
declaration of war July 30, 1914.
commodity prices and stock prices
declined, and business in general was
very bad. Before the close of the
year 1914, however, orders began to
come from Europe in large quantities,
BUR mills were working fun time. and
bur wage workers, soon again had
money to spend. BY the close of 1915
stocks were high. wholesale prices
Teer crimbing. and the United States
vas booming very prosperous.
But Europe then had money with
which to buy. and fine credit" con-
inued Mr.. Babson. To-day condi
ions are entirely different Europe
Tow has very little gold she can
end US. We do not want her Sc