The midland journal. (Rising Sun, Md.) 1885-1947, 1936-01-10

determines dennltely what the perma-
nent policy shall be,
Expect there will be bitter
Hot Debate debate. In examining
the problem, 1t Is to
be remembered that when the govern
ment lays an embargo against all ma
lions at war 1t takes away possibilities
Of tremendous profit. This profit ac-
crues to those Industries by which sus-
tanning war materials are produced.
Neutrality legislation, therefore, may
prove costly, not as costly as war, per-
haps, but nevertheless a costly action.
Hence, there Is no question that many
lines Of commerce and industry are GO
Ing to be drawn into the prelimlnaries
of this decision.
To explain how disturbing to certain
lines of industry this thing can be, 1t
Is only necessary to recall events of
the last month or so In connection with
the sanctions proposed by the League
Of Nations. The League has tried to
force the dictator, Mussollni, to with
draw from Africa by the use Of en-
SOCo, WHttH 10 WuuL SdnCtlODS
The League proceeded with consider
able vlgor until 1t reached the question
Of oil. Immediately, shoes began to
pinch and the feet that were pinched
were In every country where oil Is
found, even our own.
AS result, they have led the oil
horse up to the watering trough from
half dozen different approaches but
they have not yet been able to make
him drink. Our own oil interests have
not been qulescent. If the league bans
oil shipments to Italy, the United
States, which Is not member of the
league, obviously will do likewise. Prof
It's of the oil companies and the hum
dreds upon hundreds Of thousands of
shareholders would be cut.
Further, Mussolni has announced
publicly that imposition of the en-
barge upon oil would mean war. He
did not say with whom he would go
to war but the British and the French
know and they are getting ready. The
British has It's entire home fleet in the
mtulltIIducdu ut lilS LiinC anu Iuc
Blue Jackets aboard the British men
of war have been drilled thoroughly
anew in the science of manning their
big guns.
So 1t is seen how delicate this whole
circumstances is. 1t is plain that when
islation, 1t Is moulding pattern over
which there will be undoubtedly an
alignment among our citizens as sharp
ly drawn as though 1t were purely
domestic question. There will be those,
of course, who favor a permanent pol
icy which will make it mandatory upon
the President to apply embargoes
against shipments of anything disable
in war and treat all nations engaged In
war alike. There will be set off against
this sentiment those who think the
| Chief Executive should have discretion
airy power and that the government
| should not be placed in strait-jacket
| from which it cannot eXtrlcate itself
without congressional action. What
ever the conclusions may be and what
! ever form the new legislation takes,
1t remains as one of the most impOr-
tant policies to come before congress
in many moons. Whatever is done
necessarily will be a precedent toward
which future generations will look as
time goes on whether civilization be-
comes more enlightened or not.
The Treasury, operating on fiscal
year that runs from July 1 to June 30,
has just passed the
MUST Cut halfway point in the
Oufpo current 12-month Pc
riod. The figures
show that its receipts are tagging far
behind the expenditures and demon
strates the necessity for cutting down
the federal outgo unless the nation de-
sires to see its public debt go far be-
yond any total hitherto conceived.
The official Treasury statement as
of December 30 shows that the gov
eminent has spent approximately ST.
| 100000 more in the first six months
of this fiscal year than it received In
taxes and other revenue.
In consequence of this deficit, the
public debt is now approximately $780,
6O0,O00,000, the highest point it ever
has reached and that total is roughly
two billion dollars higher than the pub
lie debt as it stood last July l when
the present fiscal year began.
Since the expenditures were so much
larger than the receipts, the Treasury
has been operating on basis that, re-
duced to the minimum, shows an out
go of about S196 for every $1.00 col
lected in revenue during the first half
| of the current year.
g Western Newspaper Union.