The Washington herald., 1914-09-05
COMMERCE AND FINANCE

probably not located at the new seat of
government.
The cash, some s95O.O0OoOO in gold and
silver, has probably been secreted away
, TO some safe depositary. perhaps among
the provincial branches OF the Bank of
France One sUpposition is that the
money has already been taken to London
and deposited in the Bank of England,
where it is reasonably safe from molesta-
! ton by the enemy.
You may be quite sure" said one
banker. the Bank of France is not tax
ing any chances with its gold. It has
had plenty Of warning in regard to the
coming Of the Germans, and the situation
now is different from what il was in
| 1870
/ Paris as a financial center will disap-
( pear temporarily in the event Of a siege
There will be no possibility of doing
business with the city under such circum-
stances. To meet the situation the Paris
| banks will have to establish headquar-
| tiers at one OF their branches One Of
the leading joint stock banks has al
ready notified its clients that it will con-
duct its business for the present at its
| Marseilles branch. 1t does not follow
| that the banks will accompany the gov
! eminent to Bordeaux
The situation in Paris is finding express
| sion in the foreign exchange market.
There is practically no market for francs,
aIthough the few concerns with balances
in the French capital are anxious to
sell against them. On the other hand,
there is great difficulty in finding any one
to buy French exchange.
The only class of exchange that has
any chance of finding a buyer lust now
is cables. No one wants to buy sight
francs on Paris, for the reason that they
may never be delivered.
United States Opportunity.
Dun's international Review issues the
following: The suddenness with which
the great conflict between European ma
lions has broken has caused a tenn
porary disarrangement of the financial
ana distributing agencies of the entire
commercial world that may cause some
business men to lose sight OF the funda-
mental facts of the situation. Already
the more far-sighted are perceiving that
so lar from meaning disaster to the
foreign commerce and the manufacturing
industries Of the United States the con-
sluohs mat now exist present an oppor-
tunity Of such stupendous proportions
that those who are in closest touch with
current affairs cannot yet grasp its fun
significance
Inc countries at present engaged in
active hostilities include all five Of tho
leading manufacturing and exporting
nations OF Europe-ElgIand, Germany,
France, Austrfa-Hungary and Belgium
which between them supply more than
nine-tenths Of Europe's vast exports of
manufactured products to the non-manu-
featuring nations of the world. Through
out the duration OF the war the exnor,
trade Of these countries must Inevitably
cease, or can only be conducted with the
utmost difficulty.
The aggregate volume of this export
trade TO Recommendations countries
now at peace and in which business il
going on as usual, Is more than 5000
10000, of which close to 1000 600 900
are taken by the Latin-American and
colonial markets Of the Western hemis-
phere. Who is going to supply this vast
amount of manufactured goods until nor
NAL conditions are restored? Among
nations now at peace the only ones hav-
ing industrial facilities adequate to meet
such q demand are the United States and,
to more limited extent, Canada. Among
individual manufacturers the prizes will
go to those who are most alert, most az
gressive and most enterprising in taking |
advantage Of an opportunity the like
Of which will never occur again. !
I'm Mexico, where stocks are alb
normally low, owing to the prolonged |
disturbances there indications point to a |
speedy resumption Of buying. Heavy
orders have been placed with st. Louis |
during the present week |
FOR immediate delivery" and for the
time being even the great French and |
German, mercantile houses in that coun-
Try viii undoubtedly replenisk their
stocks here. In Cuba, Porto Rico and