New Britain herald., 1914-08-22
WORLDS COMMERCE GREATLY IMPROVED
Traffic Now Practically Safe Across Atlantic, Says Henry C.ews.
Especial to the Herald.)

Especial to the Herad.)
 New York, Aug. 22.-Gradually but
 surely business of all kinds is being
 resumed, and the worlds commerce
 is adjusting itself to the necessities
 of war. By far the greatest and most Important basis of improvement has been the partial restoration of inter- national trade. Traffic is now prac- tically safe across the Atlantic and through the Mediterranean. two chan nels through which much the largest share of the worlds commerce trav- l els. The route to South America is
 also practically open. German boats,
 representing an enormous tonnage, are of course out of employment, and the sudden withdrawal of so large ca pacity must continue to be a seri- ous inconvenience. The loss of ton- mage will fall most severely upon the passenger service, but this class of traffic promises to be exceedingly light for at least a year or so t9 come. Fortunately freight transportation Is being rapidly resumed chartering has Ibecome much more active and very soon our wheat and cotton will be going abroad in liberal quantities. +Gcrmany will not be able to buy our |grain or cotton with any freedom; Lbut England must have both in large Eamounts and will be able to secure Efhern as long as she can control the tsea. This helps matters very mate Erially on this side of the. Atlantic, land will lessen or avert the loss that Threatened our southern and western Farmers by an embargo upon trans |Atlantic routes. The proposal of our |government to buy a large foreign fleet of merchant vessels is now un- necessary. It is unwise for both po- |litical and commercial reasons. Our would be entering upon |an exceedingly costly and losing op- |eration for the purpose of meeting Temporary emergency, which is rapid Fly passing away.
 Financial Tension Improved. Another important sign of improve [ment is the diminished tension in the financial world International banking Arrangements are being gradually re- |eumed, and foreign exchange opera |tions have now been reopened on the Icontinent on limited scale. The New York Stock Exchange remains closed land may not be reopened until it is Known what. the London Exchange is |likely to do. To open the New York Exchange under existing conditions |would be sheer folly, since it would |make New York the dumping ground |of all the needy sellers in Europe and fresh demOralization in Hhis market. Meanwhile a business Iof very considerable importance has |been accomplished under the present methods of limited transactions for leash under approval of the Stock Ex- |change Committee of Five. This plan has worked very satisfactorily and has done much toward furnishing re- lief, prices being maintained at the |closing of July 30, and in some cases Knowing slight improvement Our bankers are doing their utmost to |settle our domestic money situation, (which has been greatly relieved by Emergency circulation, by the release |of governme ent funds and by the issue |Of clearing house certificates. Thus liar all inf1ationary proposals have been sternly checked; and it is to be hoped that this policy will be firmly |adhercd to. Imitation might help now