The present outlook is that business conditions are
fairly sound and stable. In which direction across the Atlantic the
title to gold will tend to change cannot as yet be foreseen. It will
depend largely on how much Europe wants our products and how large a
sacrifice she is willing to make in selling us her securities. It will
also depend on possible issues of paper money. Fortunately, we are the
happy possessors of over $1,500,000,000 in gold, and it is inconceivable
that any large part of this should flow out--unless we should be so
insensate as to inflate the currency.
If we keep our heads, we shall at the end of the war be in the proud
position of being the only great nation whose economic resources have
not even been strained.
Effects of War on America
By Roland G. Usher.
Head of Department of History at Washington University; author
of "Pan-Germanism," "The Rise of the American People," &c.
_From The Boston Transcript, Sept. 2, 1914._
The events of the last few days of July, 1914, showed the Americans the
far-reaching effects of a state of war. There are now few who would say,
as used to be so common, that a European war would make no difference to
us.
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