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Newspaper Page Text
'r2'J-i-Z: A-r -t Vijit W- -ENr"-'- V:T
Tijy VP '
Nine Germans out of ten, yea,
ninety-nine out of a hundred, hon
estly believe that this war has been
forced upon them by Russia, that
Russia is endeavoring slowly to ab
sorb Europe, and that Germany is
fighting for her very existence.
Furthermore, they cannot under-
(P stand why England and France
should go back on their own flesh
and blood and uphold the Slav in this
great racial struggle.
Yes, the German people are just as
patriotic and love their fatherland as
much as do the people of any other
nation. All who can are showing it
by going to war, and those who, ow
ing to sex or age, are unable to
shoulder a gun have shown patriot
ism, by cheerfully subscribing to this
great war loan, the greatest ever re-
corded in the financial history of the
One more thing in this connection,
let us remember that this is not a
war loan which will impoverish Ger
many, for the money will be spent
in Germany rather than in foreign
When Turkey or Argentina or any
other of the newer nations floats a
war loan to have battleships built
in England or to buy aeroplanes from
France or guns from Belgium, the
nation issuing said loans is impover
ished thereby, as the money goes out
of the country.
Moreover, unlike the. battle line
where the poor man must stand up
and be shot at while the wealthy
man's son is an officer in the rear,
the well-to-do bear the burden of this
fe loan. It must be a great temporary
distributor of prosperity.
Therefore, however, we may per
sonally dislike the Germans because
they are hard ,to compete with in
business and have different social
standards from our 'own, let us not
get the idea that Germany is' yet
It was only 44 years ago when
France was in worse predicament,
for she was then even unable to sell
bonds at home.
After one or two small internal
loans she was obliged to resort to
our own great bankers, J. P. Morgan
& Co., who floated at 85 a large issue
of 6 per cent gold bonds, which
yielded to purchasers nearly 8 per
cent at the start.
These bonds sold around 65 with
in a few months of their issue, al
though three months later they were
quoted at 101! It is a familiar say
ing that all is not gold that glitters,
but it is an equally true fact that all
gold does not glitter.
In other words, because the cable
reports from Europe tell only of the
strength of the allies and the weak
ness of Germany, let us not permit
our hopes to get the better of our
judgment The big German war
loan has been offered; it has already
been fully subscribed to, and I be
lieve these subscriptions will be fully
In his next article Mr. Babson will
tell us the facts about the food" sup
plies of the warring countries.
KI-yi ! wise up, olt top
take A TUMBLE To
VOOfcSELF THE "FALL
BAYS ARB HER5.
Platinum has advanced in price so
rapidly in recent years that gold is be
ing used to alloy"