Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1914-11-22
.PA|SH SUDDENLY CALLED
HOME BY LLOYD GEORGE
Temporarily Haits Negotiations for
Clearing Up International Flnan-
ciaI Situation.
MESSAGE COMES AS SURPRISE
English Bankers Believed to Desire
Personal Explanation as to Ameri-
can Proposals-Some Officials In
clfned to BE Less Optimistic.

WASHINGTON, November 2l.-Ne-
gotiations for clearing up tho inter-
national financial situation and paving
the way for reopening OF tho London
and New York Stock Exchanges were
halted to-day. when Sir George Paish
and Basil B. Blackett, OF tho English
Treasury, left suddenly for New. York
They expect to sail next week for
England. where, according to Score
tary McAdoo. they have been called by
Chancellor Lloyd George to explain
the American proposals sent to Lon
don several weeks ago by cable
The message recalling Sir George
evidently came as a surprise. and
some officials were inclined Tonight
to be less optimistic than during tho
past few days about tho success OF
the American plans. 1t was recalled
that English bankers wore not at all
anxious to have Sir George come to
America. for It was said 1t was hard
for them to understand American un-
Willingness to pay obligations in gold,
when this nation has a stock of that
metal Mt least three times as large as
that In the Bank of England.
The point on which the English
bankers are believed to desire per-
sonnl explanation from SIR George Is
the creation OF s1Oo.oOO,oOo credit
fund by the Bank Of England to pro-
tect American securities which may be
sold on the reopening Of the London
exchange.
Some officials here feel that Sir
George and Mr.. Blackett will use all
possible arguments to have the plans
indorsed by their government and by
English bankers. ~.
FURTHER REPRESENTATION
THROUGH AMBASSADOR
Whatever may be tho ultimate re-
suit, however. the negotiations prob
ably will be suspended for some time
Further representations probably will
be made through the British ambassa-
dor.
There was n belief in some quarters
here tonight that tho fact that Lon
don bankers were not wholly pleased
with the plans proposed had been
known in New York, and that the
promised reopening to a limited degree
OF the New York exchange was de
layed on this account
Announcing the departure OF Sir
George. Secretary McAdoo gave out
this statement:
"sir George Paish has just informed
me that lie has received a cable from
England saying suggestions submitted
by tho committee Of New York bank
ers are under consideration by London
bankers, but as some points are not
clear, the Chancellor OF the t;xchcqucr
has requested Sir George and Mr..
Blackett to return TO England TO ex-
plain tho situation more fully. They
expect to sail, therefore. within the
next few days.
1T is thought inadvisable to publish
the recommendations OF the New York
bankers until the London bankers have
considered them fully and acted upon
them.
Tho situation here has materially
improved since Sir George and Mr..
Blackett came to America, and their
visit has been exceedingly valuable In
bringing about n clearer understand
ing on both sides OF the water of OK
istlns conditions. Commercial and
financial relations between Great Brit
ain and this country arc so large and
Intricate that fuller understanding
OF the problems caused by the war is
mutually beneficial The visit OF Sir
George and Mr.. Blackett has accom-
plished this already. It was n gracious
act on the part Of the Chancellor Of
the ENcheuuer to let them come to
Washington"