The Daily Alaska empire., 1936-01-29
Let's Not Miss The Point.
(New York orld-Telegram)

(NeW York World-Ieegram
 We believe a misconception has grown up to what the Senate Munitions Committee investigation of J. P. Morgan & Co., is all about It is looked upon too much head-huntng expedition as another one of those public displays in which high finance is put on the pan, with proof of wrongdoing as the objective anu sensation as the result.
 Actually the real purpose is or should be- to show what part if any trade and finance played in getting US eventually into the world War, to review the perences 1914 to 1917 and if possible to benefit from those experiences in writing legislation that will keep us out of the next one.
 The fact that J. P Morgan & Go. happens to be the subject of the investigation is after all incidental It might be any other company. The good or the bad conduct of the companys affairs is likewise incidental Nothing yet has been developed to show that Morgan & Co., did anything more than act the part of shrewd and capable fnanciers who according to the code of those days were legitimately entitled to drum up all the trade they could get.
 By 1914 to 1917 standards ther activities were good business" If they hadn't got the business some body else would have And let in hindsight not delude ourselves now the nation a whole wanted 1 the business. It somebody ese's Times hard here. Export and import trade had been para yzed America flat. Buy bale of cotton and all the kindred symptoms of economic distress had appeared.
 Then the orders started coming from abroad First a few growing rapidly to an avalanche; billions of | them Mars wore the robes of Santa Claus. boom was on thanks to conflict way across the seas into which we would never permit ourselves to be drawn
 And so on to the time when those who fighting 1 ran into the problem of what do for money?' Cash was getting low Credit came next. If we were going to keep customers and prevent collapse had to make loans to them. Hence such language this from Secretary of State writing to the Presi- dent of nation that had solemnly declared neutrality and placed a ban loans:
 We face to face with what appears to be a critical economic situation which only be leved apparently by the investment of American capital in foreign loans to be used in liqudating the enormous balance of trade in favor of the United States Can we afford to let declaration to our conception of the true spirit of neutrality in the first days of the stand in the way of national interests which seemed to be seriously threatened?" America wanted to have her war cake and eat it..
 Thus the structure was built up. Thus we got into the And thus the force of contributed to the sudden changing of slogans from "he kept us out of war to over there" from T didn't raise my boy to be soldier to ships and ships"
 It isn't necessary to tell the rest of the tale-the story of death and disease, of the armless and the egess and the gassed and the blinded on the human side and the billions in unpaid debts and bonuses on the economic side Never in all history there such ghastly self deception that thing which thought was war prosperity.
 In the financial part of that tragic drama J. P Morgan & Co., played important role. But to view this investigation merely inquiry into the meth ods of Morgan is to miss the larger lesson.
 And if that lesson is not learned and not applied world conflict is again in the making we as nation will have only ourselves to blame if again and soon, find ourselves on that old road to war.
 Hockey is the fastest game in the world" writes sports authority who is evidently authority on