Evening star. [volume] (Washington, D.C.) 1854-1972, 1914-10-16
COMES TO DISCUSS
FOREIGN EXCHANGE
Adviser to British Chancellor
of Exchequer Reaches
New York.
HERE AT INVITATION OF
SECRETARY OF TREASURY
Will Investigate Cotton Situation
and Confer Over Handling and
Financing in England.

| NEW YORK. October 16.-Sir George
Paish, adviser to the British chancellor
of the exchequer reached New York
aboard the steamer Baltic to confer with
Treasury Department officials at Wash
| ington and bankers and financiers in this
city in regard to establishing basis OF
| exchange between this country and Eng
| land.
The Baltic brought in 1.515 passengers
/ The Mauritania also arrived here today.
She had 800 passengers. 1t was said that
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 that he was here at the
invitation of the Secretary of the Treas
ury. He was accompanied by Basil B.
Blackett an official of the British treas
ury.
while I am in America said Sir
George Il expect to investigate the sit
uation here So far as the handling of the
cotton crop and its financing is concerned,
as well as the exchange situation. Eng
land is vitality interested in the cotton
situation here.
To Discuss Financial Situation.
1--WE shall discuss the whole financial
situation with Treasury officials at
Washington and New York financiers
and clearing house officials. 1 am not
aware of any plan for the establish
ment of gold clearing house in Amer
lea; in fact, we have no specific plan
but we hope to arrive at some definite
conclusion after our conference"
Sir George and Mr.. Blackett said they
thought that before the British mora
torium expired November 4 some plan
might be arranged whereby the Lon
don Stock Exchange might be reopened
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
expect any trouble when the morator-
ium expires. There is much gold in
London at the present time and the
government will protect those who are
unable to pay their debts which are
due November A.
Refers to Gold Payments.
Sir George estimated that America
still owed England approximately
100000 to s5o,0O0.oOO in gold. When
asked if England would insist upon
gold payments, he said:
my reply is that as a great and
wealthy nation you are just as anxious
you pay them. Your cotton exports
at this season would normally pay the
large balance against you. This is
one of the reasons why l want to take
up the cotton situation while here.
Under ordinary conditions the cotton
situation would quickly straighten it
self. The opening of the Liverpool
Cotton Exchange will depend upon the
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 balances abroad.
the London discount market in re-
gard to American acceptances or bills
or notes except in the case of banking
houses with German affiliations"
George H. Roberts, director of the
mint, and Theodore H. Price, promi-
nent cotton broker, met Sir George
and Mr.. Blackett at the pier.