But is there no way in which our Government might immediately and indirectly help the establishment in the United States of a large Franco-British credit without violating armed neutrality?
I do not know enough about our own reserve bank law to form an opinion.

But these banks would avert such a danger if they were able to establish such a credit.

Danger for us is more real and imminent, I think, than the public on either side the Atlantic understands.

If it be not averted before its manifestations become apparent, it will then be too late to save the day.
The pressure of this approaching crisis, I am certain, has gone beyond the ability of the Morgan financial agency for the British and French governments.

The financial necessities of the Allies are too great and urgent for any private agency to handle, for every such agency has to encounter business rivalries and sectional antagonisms.
It is not improbable that the only way of maintaining our present preeminent trade position and averting a panic is by declaring war on Germany.