The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-10-19
Foreign Exchange ana Our British
visitors.

There may be flaws in the foregoing
suggestion and some special apparatus
may have TO be contrived to deal with a
restored securities market. but :he re-
opening of the stock Exchange Is PRESS
ing for consideration. Other dfflcult
problems have been taken up and one by
one are approaching solution. The great
est progress Is being made in regard &c
relief for the distressed cotton situation
which involves not only growers but con
| sumers The Stock Exchange question
cannot forever await an answer, ana as
Il begins TO look as though the difhcul
ties which foreign exchange Is present
ing would not have to be contended VIII
for "A great while the return OF foreign
exchange to something like normal condi
tons ought to be- anticipated ny prepa'
ration to take advantage Of It In tn'
securities market.
The constitution OF the foreign eN'
change gold fund was long step IN the
right direction, and although the opera
tions of the gold fund committee nave MOI
produced material relaxation IN eN
change they have had benehcial ihnu,
ence in their assurance that supply OF
exchange would he obtainable. Moan
while Sir George Paish and Bash Il
Blackett have come here as official treas
ury representatives, of British Treasury
finance TO consider measures Tor tne
! restoration OF foreign exchange to ms
normal as we'll rs for the facilitation o'
! International dealings in securities, cotior
and general merchandise.
From their visit helpful results are
expected because their financial embassy
is very significant recognition on tbs
4 mart OF Great Britain OF the duty whicf
the London money market owes as oui
greatest creditor and pas, internationa
I banker to assist American finance II
meeting the difficulties caused by our his
toric relations with British banking anc
commerce. There is every reason TO be
lieve that without any American devia
ton from political neutrality the mission
OF Sir George and Mr.. Blackett will be
successful In the promotion Of bette
banking and business conditions here
which are very much dependent on IN
ternational arrangements.
Sir George Is especially well qualified
for the task. He has always been con
WINGED that the economic destiny OF tn
United states was one of progressiv
prosperity, this conviction being OF tn
very essence OF his inveterate, optimism
toward all humanity, an optimism which
has occasionally seemed overweening, bu
is valuable equipment al this time TO
a man on whom devolves any OF tn
responsibilities of leadership,
The ample Information which ST
/ ALREADY hpcut american III
stltutions. business, values and resources
and the wide acqualntanceship which IA
enjoys In this country will make Z 'asie
for him to understand what the circum
stances require in the way of measures
and 10 aid in framing them 50 Iha
American Indebtedness abroad may Ut
discharged without needless disturbance
and impulses may be given 10 the recover!
OF a trade which both In its domestic an,
external phases is of vast Importance t
Great Britain. The separate problem
OF the foreign exchanges and the securi
ties and cotton markets and the genera
problem which they constitute will FRO
vide the subject of the discussions. wnicl
have already begun.
1t is announced that the British hnan
cial embassy has come with no IRE
conceived plans and definite schemes {
propose 1t cannot however have ar
rived here without some practical ideas
and the lack OF any prea ranged pro
gramme makes II more likely that con
sideraton OF the present situation Z,
consultation with American leaders o
affairs will lead to beneficial conclusions