The potters herald. [volume] (East Liverpool, Ohio) 1899-1982, 1939-03-23
Economic . i.
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Munich, by changing the map O
Europe and giving the Reich almos
free rein in Czechoslovakia Today, i,
the opinion of many foreign experts
England has started on new polio,
of "appeasement" with Soviet Russi;
"a policy which is designed to max,
lit possible for the British lion to SHOW
a much sitter backbone, if and whe1
Hitler and Mussolini make their mex
demands. And, most important of all
the quiet course of world events in the
last few months has apparently sub
stantially diminished the chance of {
major war occurring this year.
March 9th was a dreaded day tt
European observers. For on that day
according to we'll supported rumors
and unofficial reports, the dictators
would force the issue. Hitler would
make another of his ringing demands
for more territory, either in Europe OF
the British colonies, Mussolini woulc
tell France in unmistakable terms tina,
she must accede to his demands fol
sovereignty over Tunisia and Corsica
or else. Britain and France woulc
refuse-and war would automatically
begin.
March 9Th came and went and moth.
ing happened. AS Time puts it, "Nc
ultimatums were delivered, no troops
marched Except in SPAIN, and the
of {nv o,,1lx
barking for more land. No week in
months has been so generally peaceful
in Europe"
Most authorities ascribe this change
to a number of diverse things. The
European democracies have been re-
arming at a rapid rate, and, from the
defense standpoint, are in materially
better position than they were last
year. French and British public opin-
ion seems to favor resisting to the ut
most giving any further concessions
to Italy and Germany. The attitude
of the United States, as signified by
the speeches of the President and the
Secretary of State, are said to have
encouraged France and England and
given the dictators something to think
about. In some high quarters it is
believed that Hitler and Mussolini
have done great deal of bluffng, and
are in no position to fight major
war-and know it privately. And ap-
parently responsible reports say that
the temper of the people of Germany
and Italy is so strongly opposed to
war that the dictators would risk the
chance of domestic uprisings and per-
haps revolution if they started one.
England-which still holds the bal
ance of power abroad, in spite of loss
es in prestige-has apparently come
to the view that, much as she dislikes
Soviet Russia, Stain is friend worth
having. 1t is highly significant that a
British trade delegation recently left
London on tour of Northern Europe,
and that it spent almost a week in
Moscow as against single day in
Berlin. Commerce makes allies-and
Russia is unquestionably the most
potent ally that France and Britain
could have in Europe. Russian dis
trust of British motives and actions is
said to have made her very distant
when she was approached by the de-
before Munich as to what
she would do in the event of hostili-
ties. And rumor that Stain is consid-
ering an alliance with Nazi Germany
if England wouldn't make better bid,
is said to have sent chills up the spines
of the worried British cabinet.
Upshot of all this: A better morale
in the democracies than has been seen
for a long time, and a very definite
of the talk of the dicta-
tors.
Our interest in anything that makes
for peace or war in Europe is obvious.
Even if we stayed out of the conflict
and many authorities think we could
not-a major war would disrupt trade
and world finance, and bring dire re-
percussions here as well as abroad. 1t
is a known fact that the possibility of
war has been one of the factors that
has held US back economically. If, as
seems true now, the chance of long
peace in Europe has been bettered, the
outlook for recovery" here at home
has been immensely improved.
X X X
The Wall Street Journal recently
described business during the past few
months as having been undergoing a
"sidewise" movement. And it fore
cast, in headline, that the break is
expected to be on up side"
Most of the barometers and indexes
Justify that prediction. Commodity
prices, one of the best barometers of
are holding firmly to good
levels. Steel production in late week
was at 55 per cent of capacity. And
in the same week, the standard Dow
Jones average of industrial stock
values was Is points above the years
low.
"A rise in automobile production is
considered to be of iInportance--m many
depend on this vast indus
try for their existence, and when mo-
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