Obrázky stránek


hand, 180 days' training is more than the lobby was, it will force the Government Swiss army has. It is trained from 60 to into greater and greater expenditures for 90 days, with an eleven-day annual service an ever greater army and navy and finally for seven years afterward. But this Swiss get the United States into a militaristic system is superimposed on a universal state of mind where it would be likely to school training in the rudiments of sol- go forth in the world with an ambitious diering It seems open to question and meddling policy and provoke a war. whether the proposed service period is long The Krupp establishment has often been enough.

pictured as the generating force behind Secretary Garrison himself says:

Prussian militarism. The framers of the policy are fully conscious The gist of this point of view is that if of the possibility of formulating military policies the armament business grows large in this much better in theory, but after concentrated country it will be able to maintain a consideration of existing legal and other con- lobby in Washington that will persuade a insuperable objections and difficulties arise in majority of Mr. Tavenner's colleagues to carrying into practical operation suggestions

vote money for a larger army and navy that from the military standpoint might other

than they believe the country needs in wise be very acceptable.

order that the armament business and The plan as it stands now has two great

munition manufacturers may flourish. advantages:

The prevention for this evil which Mr. It recognizes the duty of the United Tavenner and others suggest is that the States of having a trained citizen army Government and only the Government ready to defend the country.

shall make munitions. There could not It recognizes the necessity of having this then be an armament lobby to sit outside citizen army directly under the supervision the halls of Congress and influence that of the Federal Government. And as the body toward unnecessary purchases. That secretary's report says:

is true. There would be no lobby outside If the Nation requires certain service and the halls of Congress. The work would offers the most favorable opportunitity for the be done inside. Every district that citizens to furnish such service, and not with- thought it might have a dockyard or an standing that, it cannot secure such service, it arsenal would send its representative to must then resort to some method of compelling Congress pledged to produce armament in the service.

that district. The production of arma

ment would take its place with the work on ARMOR PLATE LOBBY VS. THE rivers and harbors, with the granting of PORK BARREL

special pensions, with the erection of

unnecessary public buildings, with the ONGRESSMAN TAVENNER, of maintenance of useless army posts-it

Illinois, has published a list of would take first rank in the pork barrel.

the subscribers to the Navy League If Congress is unable to withstand a who are in any way interested in the busi- lobby that lingers around the outside in nesses which might profit from an en- the halls of the Capitol, it will be doubly larged naval programme. The Congress- helpless before a lobby firmly planted on man has a fear, shared by many other the floor of the House. people, that the manufacturers of muni- Even aside from the danger that armations are also manufacturing sentiment in ment production entirely under the Governfavor of preparedness for their own profit; ment's auspices would fall into the pork that once the armament business grows barrel, there are other difficulties. strong in this country it will become, as In time of war there is a vast quantity Mr. Taft admitted the wool industry had of benzol used, in the form of picric acid. become, too strong for the Government to If the Government is going to provide itcontrol. The fear goes even further: it self with plants for making this picric is apprehensive lest once the armor plate acid sufficient for war times, what is it lobby has become strong as the wool going to do with the plants in peace times?


They can stand idle and deteriorate or he was only doing his duty. The most they can make benzol and turn it into dye- serious part of the situation is that the stuffs. To make the dyestuff business German Government was willing to give pay, our Government would have to com- its officers here such duties to perform. pete with the German dyestuff manufac- It is just as well for us to take stock of turers who are jealously fostered by the the situation: German Government so that they, too, Before the Great War broke out, Gerwill be amply able to supply plenty of many sent us a characteristically brusque picric acid in case of war. There is no note demanding a voice in Haitian affairs simple and easy solution of the matter. which seemed like an effort to see how Either under private or governmental feasible a breach in the Monroe Doctrine ownership there is an infinite number of would be. difficulties to be met in any adequate During the disturbances in Mexico, Gerscheme of preparedness.

man influence was arrayed behind Huerta There is danger of the activities of and against us. an armor plate and munitions industry. Since the war began, in the face of our There is a greater danger of an arma- warning a German submarine sank the ment and munitions pork barrel. And Lusitania and Germany has made no setthere is always the great difficulty of tlement for it.

tlement for it. The German Ambassador, maintaining in peace cimes (either under against all diplomatic precedents, publicly private or governmental control) munitions warned American citizens not to trust to establishments that can quickly meet the the rights which the American Governrequirements of war. One way or another ment had publicly stated were theirs. the Government will have to support those The German submarines then sank industries which it must have in war times other ships. For these sinkings the Gerthat cannot themselves make a living in man Government apologized, though the peace times.

apology did not seem to indicate a change And it is negligence akin to man- of attitude toward us as much as it would slaughter for the Government to have an have if it had not become apparent that the army or navy and not to have ready for it German submarine activities in the North a sufficient and continuous supply of food, Sea had failed. The feeling that the clothing, equipment, munitions, and every- apology was more expediency than anything else which goes to make the man at thing else has since been heightened by the front efficient.

the killing of Americans on the Ancona

by Germany's ally, Austria, and by THE CASE WITH GERMANY the continuance of German propaganda

and conspiracies even since the dismissal HE dismissal of Captains Boy-Ed of Ambassador Dumba. Since the last

and Von Papen and the action public note to Germany concerning the

against the Austrian consuls ful- Lusitania, it seems that Secretary Lansing filled a long-standing desire of the Amer- and Ambassador Bernstorff have been ican public. The Government's action holding “conversations” in an effort to measured up to public sentiment, it did settle the Lusitania matter. As long as not anticipate it. The conviction of Dr. it seemed as if Germany was sincere in Karl Buenz and the other officials of the these negotiations and there seemed a Hamburg-American Line falls into the chance of settlement, it was obviously same category.

the duty of the American Government to The public has had a growing feeling of continue them. But if, after several indignation and anger as it became more months of these conversations, no satisand more apparent that the propaganda factory settlement seems imminent and and conspiracies in this country were a all the while German agents are carrying on part of an organized plan directed by the offensive propaganda throughout the counagents of the German Government. Cap- try, and Austrian submarines are killing tain Boy-Ed is said to have remarked that our citizens, it is inevitable that the public

[ocr errors]

should begin to question seriously the use any other market, becomes great chiefly of further efforts in this direction. For on account of the amount of commodities the conviction grows firmer in people's for sale there. Lombard Street was the minds that the German agents here are greatest money market in the world be. going to continue their nefarious activities cause there was more money available until they are sent out of the country or there for sale, so to speak, than anywhere put in jail, unless the United States Gov- else in the world. The reason for that ernment convinces the German Govern- was that Great Britain, being protected ment that it will be for Germany's ad- from invasion for hundreds of years, has vantage to stop these offenses against us. had time to build up many fortunes with

Our notes concerning the Arabic resulted out interruption. It has been a national in Germany's apology. Our notes con- habit to keep these accumulations of mones cerning the Lusitania failed. The German

The German together from one generation to another Government did not take the hint con- For a hundred years or more this accumuveyed in Dr. Dumba's dismissal. They lated capital has been more than British may fail likewise to understand the mean- industry could use, so that it has flowed into ing of the return of Captains Boy-Ed and Lombard Street for some foreign enterVon Papen or the Ancona note.

prise to bid for it. British capital in great The condition of affairs, then, is grad- volume has financial development all over ually coming back to the place where it the world, so that now from every contiwas the day after the Lusitania went down. nent and almost every country a continual Germany has violated our rights and re- stream of interest payments flows toward fuses to apologize or make satisfactory Lombard Street. And much of this money reparation. The sudden anger caused is turned free for investment. This is the by the Lusitania has subsided. In its basis of Great Britain's supremacy in place is a more permanent feeling built international finance. on months of insult and injury.

In the United States, on the other hand, If the propaganda and conspiracies there has been no surplus capital. We stop and the Lusitania matter is settled, have consistently used all the money w and the Ancona murder is atoned for, had and borrowed from abroad. For a we can go our way in peace. If the con- year or two before the war, however, new spiracies continue and the Lusitania mat- enterprises were not started in the usual ter is not settled, action on the part of the volume, and money accumulated. MoreUnited States Government will eventually over, we changed our banking system and be necessary.

made our credit and currency much more There seem to be but two steps possible: elastic. These two circumstances placed first, the severance of diplomatic rela- our money market in an unusually happy tions; and, second, war. It is our duty to condition to meet the demands made upon look this situation fairly in the face, not it by the war. Then the immense purchases that either of these eventualities must which the Entente Allies have made in this necessarily happen, but either or both country have transferred to us in credit may happen, and we should be ready to and cash a large amount from Lombard meet either of them calmly and firmly. Street's usual surplus. For the time being,

then, New York is one of the world's best OUR MONEY MARKET AFTER THE money markets. WAR

But when the extraordinary foreign pur

chases diminish after the war, it is not HE embarrassments of the Euro- clear that we will have any great surplus

pean money markets has tempor- over the needs of our own industry, espe

arily given New York a new and cially if the boom in business, now beginenlarged position in international finance, ning, continues. Nor will we receive a large which has led to much speculation upon annual fund of interest charges from all Wall Street's ability to maintain its leader- over the world, for even with the money ship after the war. A money market, like we have loaned during the war our foreign investments will be small compared with even if by so doing the consumers of the Great Britain's.

United States suffer. When the war is over we shall be a better The Republican idea places the Amerinternational market than before, for we ican producer first. The Democratic idea shall have more money than before, a places the American consumer first. But better financial system, and we shall have both must place the interests of the Amersome experience with the possibilities and ican producer before the interests of the technique of international finance. But people of any other country whether they Wall Street will not be able to serve the be producers or consumers. world as Lombard Street used to.

There is, then, no reason why the United Lombard Street will, in all likelihood States Government should discourage comresume its primary position, but its relative binations for foreign trade unless these position to Wall Street will not be as it was combinations react against the American before the war. Not only will Wall Street consumer, or unless they involve unfair have gained in strength but Lombard competition between one American proStreet will have lost. The usual current ducer and another. surplus has been used up in the war and If all the tire manufacturers who now the great funds of British surplus money compete actively against one another in has been touched. The revival of British this country, to the consumer's advantage, industry will need more than the usual should combine for foreign trade, is there capital. The high taxes left by the war not a danger that once in that intimate will further deplete the money for inter- association they would also surreptitiously national use. But, on the other hand, the combine in the domestic market? great reservoirs of British wealth at home People who believe in the general desire and British foreign investments will in of business men to live up to the laws will the main be intact. British industry will unhesitatingly answer that this danger is have suffered, but not fundamentally. The negligible and the few infractions could be experience and technique of international easily handled by the Federal Trade Comfinance will still prevail in Lombard Street, mission and the courts. There is no reaand the habit of the world to go to England son to object to combinations for foreign for its money will still be strong.

trade on the ground that they might react When the war is over the premium on the against the American consumer unless dollar will not be what it is now. We shall one is gravely suspicious of the general not be in a position to challenge Great character of American business. Britain's supremacy in this chosen field. The other objection, voiced by PresiThe war has given us a start in in- dent Wilson last winter, was that if ternational finance, a golden opportun- combinations for foreign trade were ality to establish ourselves securely, but lowed they might lead to unfair competibeyond that we shall have to work tion between different American firms in against keen and experienced competitors foreign fields. If all the tire manufacturers for an increasing share of the money except one, for example, should combine business of the world.

for export, and the combination should

enter the foreign fields where that one comCOMBINATIONS FOR EXPORT pany sold tires, and, by their combined

resources, were able to sell below cost until CCORDING to Democratic theory they drove it out, obviously they would be one of the main objects of govern- employing a kind of unfair competition

ment is to protect the consumer which we would not allow at home. But against artificial increases in prices either here at home, from the Democratic point by tariffs, combinations, monopolies, or of view, we do not prohibit unfair competiany other means

tion because of its hardship to the small According to Republican theory one of producer but because his elimination will the main duties of government is to pro- inevitably be followed by disadvantages tect the producer from foreign competition to the consumers. In foreign fields the


« PředchozíPokračovat »