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Show FOUNT OF SUPPLY. Secretary McAdoo "touched the rock" of the nation's finances , when he barrowtd $50,000,000 from the federal reserve banks oh ninety-day treasury certificates at the rate of 2 per cent a year. The money is needed to tide over the government until June, when the income in-come and internal revenue taxes will begin to flow into the treasury. It is possible that another $50,000,000 will be obtained on certificates before the close of the present fiscal year, for the reserve re-serve banks are overflowing with money and will not be incommoded or inconvenienced incon-venienced b' supplying the wants of the United States government. This is one of the cheerful aspects of the present pres-ent tense situation. The financial condition of the country coun-try is excellent. There does not appear ap-pear to be very much cash in the national na-tional treasury, but the banks are overflowing over-flowing with it and there is a vast quantity quan-tity of it in circulation. So if war comes we shall not lack the "sinews." The men who drafted the federal reserve re-serve law builded better than they knew, and we believe the twelve regional re-gional banks will prove a tower of strength in time of need. Taking all the banks together, regional, national and state, we have a financial line of defense which is practically impregnable impregna-ble and there arc no fears of a panic, come what may. Never iu the history of the world did a country enter upon war with such tremendous resources and confidence has been inspired throughout the length and breadth of the land. We do not know in advance what action ac-tion congress will take next week if war becomes a stern reality, but it is presumable pre-sumable that bonds to the amount of a billion dollars will be issued to begin with, and as the bankers of the country coun-try have asserted their ability to take up that amount of the government's obligations ob-ligations over night there will bo no question as to payment for anything that may be needed to put an army in the field prepared to vindicate American Ameri-can rights and demonstrate to the world that although we are a peaceful nation there is a point beyond which it is not safe to try our patience. We cannot say that there is undue excitement excite-ment over the fact that war is near, tor it has beeu evident for some time that it would come at last. Next week, however, how-ever, a great wave of patriotism will sweep over the land just as soon as there is a call to arms. It is comforting comfort-ing to know that when the storm breaks business will not be paralyzed and that there is wealth enough in the country to prosecute the war to the bitter cud. |