Jasper County Democrat, Volume 18, Number 32, Rensselaer, Jasper County, 24 July 1915 — Squandering Blood and Treasure in Europe. [ARTICLE]

Squandering Blood and Treasure in Europe.

The financial situations of European governments and people grow worse with every passing week, despite the assurances of the various officials, and the enormous sum that is now being expended each day, estimated in the aggregate as $50,000,000, is sure to be increased with every month that passes. Germany months ago prohibited the export of gold from her domains, and as Germany is largely, cut off from importations, there is not the urgency for gold payment of foreign creditors as in the nations which are importing freely of foodstuffs and war supplies. The Britisfi-lqan, issued at 4% -per cent interest, was well subscribed

for, and, although the final figures are not yet definitely announced, it is estimated that new subscriptions amounted to nearly s3,ot»O,<Jo(»,ttQo and the conversion of.._old issues into the new 4 % per cents was close to St,2S(I,OGG,GGO, -L.: . The loan did not go so well as I hoped for by tfie government, and yer it Avas taken finely when financial and political ci nditioEs in Europe are considered. The uncertainties in war affect fiatioii in■ ..that continent, .-and tii< uncertainties as to Europe being 1. .le to iunintain a s-.-id ;.jc. - tafy basis after the war is ?.££?:>.<. into . the fitmhcial thought of every. capitalist, financier ano investor there. 'France, despite the enthusiastic bull , tills put out last wv- k -to tl.c rush pl people ;o tiie Bank of France i'" 1' PO! : . !■'. » : .1 . t .r:n, arcs, t-f nseLted- ■ • ...... s•n u t ade a su c cess oth is j"-* 1 r i io i,'<<dia the gold <f its ped- • A - ,I'Y il’i-GliS <4.oll.iT’ ■ in three; v;.-ys. ffiian?-;a -long tlfife uh’-ii ..• l.oped-lcr :E.r a o: doliars v i.i, h ii . for is de posited;

Failure is plainly wri!;en~’ upbri this effort to get ti.e' ,_<ld o: the raving French people, 1 .. n-tan ime lae Etem.li government has forbidden the export <>: ■golfi ..,>rt\'e ■ through. ; the- ' Lank -.’of. i<-a(-.e_. which, means that the gcverhmeht proposes o use the gold of the people for it- own purposes.Russia has also prohibited this present week the export of gold, and it looks as if the allies had formed a gold pool, which is, possibly, the part of wisdom considering the immense' issues of paper in various forms that have been given circulation or placed as loans to the government. It is stated in London that Premier Asquith is about to ask Parliament

for another grant of $1.250.t<0j>,000 before it adjourns, and thus the cost of carrying pn war goes steadily on in Europe, with prospects of heavy war indemnities to be paid by some nations and a certainty of immense losses in money and men. in property and other forms of wealth, by each and every one of the belligerent nations.

Thus Europe is running squarely toward bankruptcy and now her financial syetems are as shattered as the code of international law. The people of the 'United States have much to be thankful for when they look over the peaceful and prosperous conditions which prevail' here. —Cincinnati Enquirer. «-