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for the alleviation of suffering due to the war.

The loan was put upon the market Oct. 1 at 9894, yielding 6.30 per cent., and the entire amount was eagerly absorbed within one day. It was a fresh instance of the sentimental response from the American investing public to any appeal from the French.

in larger amounts than the preceding: 725 subscribers took over 1,000,000,000 marks each, as against 151 in the preceding loan; 19,375 took over 50,000 marks each, as against 16,762 before. The details of the French loan are not made public, but it exceeded 10,000,000,000 francs. In September the French Minister of Finance asked the Chamber of Deputies for 8,347,000,000 francs for the last quarter of 1916, 500,000,000 more than the preceding quarter. This brings the total appropriations asked since August, 1914, to 61,000,000,000 francs, ($12,200,000,000.)

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THE

THE total of exports from the port of

New York during September was $269,981,000, or $10,796,000 per business day, against a total of $271,243,000, or $10,046,000 per day in August. New York is now by far the largest exporting port in the world. The total exports from the United States in August were $510,000,000; imports, $199,247,391; for the first eight months of 1916 the exports

$3,436,280,815, against $1,515,182,157 same period in 1913. Imports in eight months were $1,667,066,965, against $1,156,300,228 in 1913.

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THE
HE committee appointed by the Brit-

ish Board of Trade, of which Lord Faringdon is Chairman, to consider means of meeting the needs of British firms after the war as regards financial facilities for handling foreign business recommends the formation of an industrial bank with a capital of $50,000,000 to act as the link between home and colonial banking institutions. The committee, in discussing the advisability of the bank, recommends, among other things, that it act as agent for the Government in advancing capital to give a start to laboring men and others who would be “ unwilling," after the war, “to settle down again to the humdrum of the office, and would be desirous of going to the colonies and to foreign countries to push business on their own account."

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FROM July 1 to Sept. 18, 1916, the

Entente Allies claim the capture of 490,668 prisoners, 1,131 guns, and 2,624 machine guns, divided as follows, as respects prisoners: By the French, 33,699; by the English, 21,450; by the Russians, 402,471; by the Italians, 33,048.

ONE

THE WAR: MILITARY PHASES
Silence Reigns at Verdun

but, on the ground, plowed, excavated, NE of the French officers who took dead, not a shell now bursts; in the dis

part in the earlier defense at Ver tance, toward Froideterre and Souville, dun, and who returned thither in the a few black smoke wreaths mark the month of September, has put on record work of weary gunners. When the fighthis impressions: Le Mort Homme and ing flares up toward Vaux-Chapitre and 304-Meter Hill still silhouette the horizon, Le Reteignebois it is the French who

are the aggressors. It has taken thirty therefore actually on the present Gerweeks, but the result has been accom man frontier. In drawing the boundary plished. During these weeks the assailant between the new German Empire and of Verdun maintained a fury of aggres France, after the Franco-Prussian war sive such as the world had never seen, of 1870, Bismarck evidently overlooked but without exhausting the strength of these very valuable deposits of iron ore, the defenders. A day came, even for which a slight divergence of the line him, formidably armed though he was, would have included within the confines when the cost was too heavy.

of Germany, thus giving her an enormous Many cannon are still in line, and

economic advantage. many divisions of troops. But the divi

A correspondent in Germany has ansions are immobilized, and the guns are

nounced that German steel interests are silent. What, asks this French officer,

determined to rectify the Iron Chanhas Germany gained by this thirty

cellor's oversight—to annex, after the weeks' assault? Almost nothing, he an

present war, the iron mines then overswers; on the left bank one or two hill

looked. The correspondent asserts that, sides, on the right bank a wood and a

when he was present at a meeting of ruined fort. Inviolate Verdun continued

German steel magnates at Düsseldorf, firm, and even its approaches were un

in the heart of the Rhenish manufacfallen. The victory was with the French.

turing district, a German ironmaster, That Verdun is an allied victory is

showing him a map of the deposits in the view of all the Allies; and decora

the Briey district, declared that that was tions have been presented not to the in

what Germany was fighting for; that trepid General Pétain who made the de

Germany must have that additional disfense, but to the City of Verdun itself,

trict of Lorraine because, without it, the an honor almost unparalleled in history.

steel industry of Germany would live First, the white enameled Cross of Saint

under the stress of great dangers. The George, presented by the Russian Em

German ironmaster was also very much peror; then the Military Cross of Eng

in favor of annexing Belgium, because land, with its white and violet ribbon,

the possession of that country would adpresented by King George; the French

mirably protect the Rhine provinces; BelCross of the Legion of Honor, and the

gium would be “a pistol pointed at the French War Cross; the gold medal for

heart of England.” valor, with the arms of the House of

On the other hand, it has been sugSavoy and the inscription “ Alla città di Verdun, 1916," sent by Victor Emmanuel,

gested by a distinguished American econKing of Italy; the Serbian gold medal

omist, Dr. Macfarlane, who studied ecofor military courage, on a scarlet rib

nomics at a German university, that, bon; then, in the name of King Albert of

should the Entente Powers be successful Belgium, the Belgian Cross of Leopold I.,

in the present war, they could best guarwith a ribbon of amaranthine purple;

antee themselves against future attacks and, last, the gold medal of Montenegro,

by Germany by annexing the western on a ribbon of the national colors, red,

German coalfields, the loss of which blue, and white. On Sept. 13 these deco

would so restrict Germanys' industrial rations were presented to the city by the

development and curtail her wealth that President of France.

it would be impossible for her to organize

future aggressive wars. Another AmerMineral Lands and the War

ican authority has announced that French T has been more than once made clear engineers have recently discovered large

that a very large part of the steel and valuable deposits of coal and iron and iron now used by Germany in the along the Rhone, in the basin of the manufacture of her cannon and shells Loire, and in Brittany and Anjou. At comes, not from German iron mines, but present France's richest coal mines are from the mines in the Briey district in in the northern regions occupied by GerFrench Lorraine, on the railroad which man armies; but these new deposits, runs due west from Verdun to Metz, and when opened, will make her self-supply

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lies,” as Shakespeare has it

, than a seri- THOSE who knew Belgium before the

com

ing and render unnecessary further im gested that commercial submarines portations from England, which, since the like the Deutschland may easily be prowar broke out, has been practically sup vided with rams, and, while showing plying France with both coal and iron. neither guns nor torpedo tubes, may Meanwhile, France is preparing to make nevertheless be quite effective commerce extensive use of “white coal,” harnessing destroyers. He thus goes back to the the waterfalls of the Pryenees and the original idea of Jules Verne. mountains of Central France.

In passing, it may be noted that an

other idea of Jules Verne's, the use of Jules Verne and the U-53

hydrogen gas for the inflation of longHILE the question of the real pur distance airships, is actually in use in

pose of the activities of German all aircraft of the Zeppelin type. Jules submarines on this side of the Atlantic

Verne's great gun, the Columbiad, is still and their relation to international law unrivaled, but it is being steadily apare being debated is interesting to re proached by the monster guns created by member that the real inspiration of this

the present war. exploit comes from a Frenchman of genius who, in his own day, was con

Refitting the Belgian Army sidered rather a writer of fantastical

THOSE

war will remember, as one of its ous scientific man. It was, in fact, the

most characteristic sights, the little submarine Nautilus, under the guidance wagons drawn by dogs which brought to of the relentless Captain Nemo, that the early morning markets treasures of made the first undersea raid on

fruit and flowers and vegetables, dairy merce, and it was precisely in the At

produce, cakes and loaves; a hundred lantic lane of navigation, not far from products of Belgian peasant industry. It Nantucket lightship, that her first ex is an astonishing result of the war that ploits were accomplished; a liner was these same dogs, with their little wagons, sunk there, and from among the few sur are now on the firing line, trained to vivors of this liner came the unwilling bring supplies of cartridges to the Belvisitors to Captain Nemo's submarine, gian machine guns. It is true that, even who tell the great tale of “ Twenty Thou before the war, the Belgians had hit sand Leagues Under the Sea.”

upon this idea, and had already trained Up to the present, therefore, it is numbers of dogs for this work. neither the intrepid Captain of the Another somewhat extraordinary miliDeutschland nor the master of the U-53, tary development is the new Belgian but the commander of the Nautilus, who military harpoon. We have all read acholds the record. And it is noteworthy counts of the formidable entanglements that, in almost every detail, Jules Verne of barbed wire-first used in the Boer anticipated the actual developments of war in South Africa-which each belsubmarines, though he worked out his ligerent army erects before its trenches, conceptions as long ago as the time of the and of the destruction of these entangleFranco-Prussian war. The cigarlike ments by concentrated gun fire. The hull, the electric storage batteries, the service rifles of certain armies are furrenewal of oxygen by the use of chlorate ther equipped with a wire-cutting device of potash, all follow his lines.

attached to the muzzle, and wire cutters important detail only he seems to have of various forms are generally in use. guessed wrongly—the Nautilus carried But the Belgian device is the most origno torpedoes and was unprovided with inal; a harpoon, which bears considerable torpedo tubes. She rammed her victims, resemblance to the old device of the instead of torpedoing them. But it is whalers, is fired among the strands of interesting to note that another dis barbed wire which protect the enemy tinguished Frenchman, not a writer of trenches; a light steel rope attached to romances, but one of the foremost naval it is warped around a windlass, and men authorities of France, has recently sug in the Belgian trenches set the windlass

In one

turning, and haul over to their own trenches the whole material of the entanglement, wire, posts and all.

The new Belgian troops have recently been equipped with the French steel trench helmets, which have proved invaluable as a defense against fragments of shrapnel. The question is certain to be asked: Where do these new Belgian troops come from, seeing that practically all of Belgium is under German rule? The answer is simple. After the occupation of Antwerp, not only what remained of the Belgian Army, but great numbers of Belgian men, not then in the army, retreated to France, or escaped to England. When King Albert subsequently called for volunteers these men offered themselves for service, and the Belgian Government, installed at Le Havre, on the estuary of the Seine, set itself to establish training schools both for men and officers, the latter task being much the more difficult. It thus comes that Belgium, like Serbia, has a new army ready to fight for the reconquest of their native land, which, it must be remembered, was, before the war, one of the most densely populated in the world, having a population of 652 to the square mile, as against 310 for the German Empire, which we are accustomed to think of as densely populated.

The Transylvanian Battlefield THE fighting of the Rumanian armies

for some time to come is likely to cling about the passes of the Carpathians and their continuation, the Transylvanian Alps. It is, therefore, well worth while to survey these chains.

We may begin at the north at the lofty pyramid of Pietrosul, almost 7,000 feet high, at the meeting point of Bukowina, Transylvania, and Rumania; Borgo Pass, 3,900 feet high, joins Bistritz in Hungary with Kimpolung in Bukowina by an excellent road which appears to be in the hands of the Russians. From Pietrosul southward, the Carpathians form formidable wall everywhere above 5,000 feet and often reaching 5,500; the first important pass is the Gyimes, at a height of about 3,000 feet, through which a railroad passes from Hungary to Rumania.

A little further to the southwest the Oitoz Pass is no higher than 2,775 feet. This brings us to the corner, where the name of the range changes to Transylvanian Alps. Just westward of the corner one comes, on the Transylvania side, to the town of Brasso or Kronstadt, about which there has been heavy fighting and which is joined with Bucharest by a railroad over the Tomos Pass, at a height of about 3,500 feet; this is the main door of Rumania, and just inside the door, on the slope of the mountains, is Sinaia, the Summer hill station of the Rumanian King. Further west one comes to the Red Tower Pass, where there is really a red tower, beneath which the Aluta River flows through a narrow mountain gorge from Transylvania into Rumania; a road and a railroad pass through to Rumania from Hermannstadt, at the very moderate height of 1,154 feet, the lowest of all the passes. Further west is the Vulkan Pass, 5,326 feet high, on whose Transylvania side is Petroseny, in the midst of the coalfields, worked, in this land of contradictions, by Frenchmen. From this point westward to the Iron Gates there are no important passes. But the Iron Gates-the name really belongs to reef in the Danube, comparable to Hell Gate before it was blasted - form very important highway, both by water and by land.

The waterway is at present in the hands of the Rumanians, who are using their power to close the Danube to steamships carrying Teutonic munitions to Bulgaria and Turkey.

Russia and a Separate Peace A

WELL - AUTHENTICATED story

comes from Russia of semi-official negotiations renewed by Germany, in the hope of detaching the Russian Empire from the cause of the Entente Allies. The story is told by M. Rodzianko, President of the Imperial Duma, and concerns the conversation between M. Protopopoff, Vice President of the Duma, and a German diplomatist, attached to the German Embassy at Stockholm; the occasion, apparently, the passage through Sweden of a group of Russian parliamen

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tarians on their way to or from England and France.

At the house of a friend in Stockholm they found among their fellow-guests the German diplomatist referred to, who, according to the President of the Imperial Duma, was "both insidious and promising." He did not hide from his auditors that the situation of the Central Powers was critical, and that Germany, to escape from her difficulties, was willing to have recourse to heroic remedies. He insinuated that his Government had very exact information as to the altogether unexpected surprise which England was reserving for Russia after the war. He added that the Quadruple Entente could not exist in its present shape longer than the end of the war; that, sooner or later, Russia would see that her allies were pursuing only their own interests, and cared very little about Russia.

In conclusion, he announced that the German Government was ready to reach out its hand to the Imperial Russian Government, and to begin peace negotiations; only a peace immediately concluded could save Germany and Russia from England. Recognizing the gravity of the hour Germany would make unexpected concessions to Russia. Germany was not opposed to the reconstruction of Serbia, nor to the compensation of Serbia for injuries received. Germany would, moreover, consent to settle the Polish question in a manner satisfactory to Russia. As for the question of the Dardanelles, it could be decided at once, in a manner exceedingly favorable for Russia, since it was just there that Russian and German interests were least in opposition. And commercial treaties between the two countries could be drawn up very favorable to Russia.

The President of the Duma tells us that M. Protopopoff merely listened, contenting himself with making a correction, whenever any misstatement slipped into the recital of the German diplomatist. M. Rodzianko concludes his narrative by declaring that persons for whom international treaties are " scraps of paper may be listened to, but not answered. The Russian armies, in concert with those faithful allies who every day be

Forty-four Zeppelin Raids N the month ended Oct. 2, 1916,

there were four Zeppelin raids on London, the last attacks being made by airships of a newer and larger type. On Sept. 2 one Zeppelin was struck while flying over the London district and fell in flames; in that raid two English civilians suffered death and thirteen were injured. In a raid on Sept. 23 two Zeppelins were destroyed; thirty-eight persons were killed and 125 wounded. On Sept. 24 another raid followed, when thirty-six were killed and twenty-seven wounded. On Oct. 2 there was a fourth raid, when two Zeppelins were brought down. There have been in all forty-four Zeppelin raids on London-twenty-three in 1915, twenty-one in 1916. The total killed by the raiders is 431, 1,146 wounded. No serious material damage has been done.

The Political Status of Crete

THE

HE Entente Powers have recognized

the Government recently established by Eleutherios Venizelos in the island of Crete, and have instructed their Consular agents to give official effect to this recognition. Thus the long, narrow island to the south of the Greek capes passes through yet one more change of government.

Crete was under the rule of Venice for 548 years, ending in 1669—four years after New York passed from under the sway of the Dutch-and it is said that the Greek statesman whom we have mentioned takes his family name from the Venetian republic. Then Crete fell under the power of the Turks, and was governed as a Turkish vilayet, or administrative province, until 1830, when it was made a dependency of the Viceroy of Egypt, being thus detached from Europe and attached to the African Con

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