The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1914-10-17
IN AMER|CA TO DISCUSS
FINANCIAL SITUATION
Sir George Paish, Adviser. to British
Chancellor Of Exchequer, Ar
.riyes in New York.
no MEET TREAsURY OFFICIALS
Establishment OF Basis of Exchange
Between This Country and Eng
land Will Be Considered-To In
yestfgate Handling Of Cotton Crop.

NEW YORK, October 16.-Sir George
Paish. adviser to the British Chancel-
lor OF the Exchequer. reached New York
to-day aboard the steamer Baltic to
confer with Treasury officials at Wash
ington and bankers and financiers in
this city on establishing basis Of ex-
change between this country and Eng
land.
The Baltic brought in 1.515 passen-
gers. The Mauretania also arrived to-
day with $50 passengers. 1t was said
this probably would be her last trip to
New York for some time, as she will be
laid up at Liverpool for repairs upon
her return there!
Sir George said!ke was here at the In
vitation OF the Secretary of the Treus-
ury. He was accompanied by Basil b.
Blackett. an official of the British
Treasury.
while I am in America" said Sir
George, II expect to Investigate the
situation here so far az the handlins,
OF tho cotton crop and its financing Is
concerned. as we'll as the exchange sit
uation. Englandtis vitality Interested in
The cotton situation here.
we shall discuss the whole financial
situation with Treasury officials in
Washington and New York fnanciers
L
aware of any plan for the establish
inent Of gold clearinghouse in Amer
:ca: In fact, VIC have no specific plan,
but we hope to arrive at come definite
conclusion after our conferences"
Sir George and Mr.. Blackett said they
thought that before the British mora
forum expired on November A. some
plan might be arranged whereby the
London Stock Exchange might be re-
opened.
FINANCIAL CONDITIONS
PRACTICALLY NORMAL
Financial conditions in London are
now practically normal" Sir George
said. II consider that we are ready to
weather any storm. and we do not ex-
pect any trouble when the moratorium
expires. There is much gold in Lon
don at the present time, and the gov
ernment will protect those who are
! unable to pay their debts which are
cue on November L."
Sir George estimated that America
still owed England approximately S4O.-
100000 to S5o.o0o.ooo in gold. When
asked II England would Insist upon
gold payments. he said:
My reply is, rnas as a great and
wealthy nation. you are Just as anxious
to pay your debts as we are to have
YOU pay them. Your cotton exports at
this season would normally pay the
large balance against you. This Is one
OF the reasons why ] want to take up
The cotton situation while here. Under
ordinary conditions the cotton situa-
lion would quickly straighten iteslf
The opening Of the Liverpool Cotton
Exchange will depend upon the OPEN
ing of the New York and New Orleans
cotton exchanges. We expect your
! markets to be soon under way. and the
free movement of cotton will OF course
facilitate the payment of American bal
ances abroad.
There has been no discrimination in
the London discount market In regard
Ito american acceptances or bills or
notes. except In the case of banking
Ihonses with German amliations."
George E. Roberts, Director OF the
Mint. and Theodore H. Price, promi-
nent cotton broker. met Sir George
and Mr.. Blackett at the pier.