French Desire American Loan Debate Reaches Government
The House of Morgan urges the government to decide on permitting an American loan. Officials weigh concerns as the financial maneuver prompts public interest and international implications.
14 Aug 1914
Page 1
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Newspaper
Amarillo Daily News
Location
Amarillo, Texas, United States of America
Date
Aug 14, 1914
Page
1
The House of Morgan urges the government to decide on permitting an American loan. Officials weigh concerns as the financial maneuver prompts public interest and international implications.
President Wilson weighs whether American banks may float loans for European nations at war and voices opposition. Morgan concerns a hundred million dollar loan to France trigger debate as cost of living rises and wartime pressures loom. Congressional leaders plan quick action to boost internal revenue by a hundred million to offset lost import duties.
In New Orleans on August 13 two more bubonic plague cases were confirmed, bringing the total to seventeen since the initial outbreak began on June 27. The report notes continued public health concern and ongoing surveillance.
The Chesapeake and Ohio Railway selects a site about eight miles above Portsmouth for a new two cantilever span bridge across the Ohio River. The structure will total 2420 feet, use about 20 000 tons of steel, and cost an estimated 32 000 000. Sunday School workers convene in Warsaw Indiana for the eleventh annual Fourth International district meeting with leaders from Ohio Michigan and Indiana among the speakers and instructors.
The allied mobilized merchants and professionals from Amarillo conducted a two day scouting excursion down the Santa Fe to Plainview Crosbyton and Lubbock then returned. Highlights include hospitality in Crosbyton a large banquet and a program with welcome addresses by Julian M Parsett and Amarillo speakers. The event showcased Crosbyton as a hospitable host and Amarillo as a growing financial center with plans for a future visit.
The provisional government collapses as President Carbajal flees to Veracruz after a manifesto blaming the Constitutionalists for failure to seek peace. A peace pact is signed with Federal forces, paving the way for Constitutionalists to occupy Mexico City.
The Associated Press reports in Chicago that living costs have risen with protective cafes and clubs raising bills. Packers at the stock yards credit shortages for firm prices while egg prices drop by half a cent amid ongoing investigations.
The German Seydlitz completed official trials with 89 758 propeller horsepower the highest for any turbine driven battleship. It achieved an average speed over 28 knots placing it among armored cruisers Moltke and Goeben. Future turbine cruisers approaching 100 000 hp are anticipated as German designs advance.
In a half hour long range duel off the north Atlantic Bristol the smallest British warship and the large German cruiser Karls chase and exchange fire with little damage to either due to poor gunnery conditions. Diplomatic dispatches report Americans Margaret Petersson Christine Early and Florence Wallin are safe in Europe with transports to bring home stranded citizens planned from Aug 13 to Aug 15. Montgomery yearling cattle reach $40 at Clarendon sale with cows and calves also traded.
The United States Census Bureau releases figures showing 12,059,208 people or 25 percent of the gainfully occupied are in agriculture. In Texas 4,140 farm workers form the bulk of farm operators and laborers, with 1,280 dairy farmers employing 1,400 laborers and 47 foremen. Cowboys and sheep herders number 5,800 nationwide.
Local forecast calls for fair weather Friday in Washington BC. Temperature readings show 7 am at 0.66, 7 pm at 7s, with maximum 0.84 and minimum 0.41. A northeast wind is expected with no significant precipitation anticipated.
In Austin Texas on August 14 a leading Texas railroad executive warned that Atlantic and Gulf ports are blocked by climate, risking wheat spoilage. Elevators are full and storage is stressed while mills may boost output and cotton storage remains feasible. The executive predicts decisive results within four to five months.
Rival armies tighten lines as guards arrive frequently but no major clash is reported yet. The skirmish atmosphere grows tense with both sides holding positions near the front.
Allied forces claim victories as Austrians advance into Russian Poland while siege details emerge. British navy has largely cleared the seas, signaling strong overall wartime momentum.
From ROTTERDAM and AMSTERDAM on August 13 reports describe sixty thousand Dutch troops on the border with large land areas flooded as a precaution. Paris notes three thousand Americans seek transport home on government steamers with two thousand more requesting reservations.
Two long lines of opposing forces face off in Northern Belgium and along the French frontier with a major battle anticipated. Reports cite heavy engagements at Haelen and troop movements including Italy mobilizing 250000 along Swiss and Austrian borders. The British press is warned to publish only official news while ambassadors are recalled for a war conference.
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