Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1915-09-01
Fear Is Felt That England May
Cease to Buy Anything *
cept Actual Necessities
From United States
SOLUTION OF PROBLEM
MAY BE REACHED SOON
New York Bankers Wan. to
Lend British Government
Enormous Sum 10 Be Spent
on This Side Of the Ocean,

10Y sostHHo louaHsl arf-isl tftsra eIHrI
Sew YORK aug at Thr frmcu
dous export trade of M, United sute.
in which the country loads tHo world
for the first tme. was upordl,d ~.
day by an alarming drop Ia foreign
exchange rates notably sterling 40
the oleac OF business toHlRht TIRE
English pound hruuEht only 8i5. =
Ia American money This drop from
lts normal value Ia without pteee-
dence II marked tine lowest VAIN,
sat recorded in Uu excited market
whore every day recently h1s set "a
new record Of depreciation. uud 4
indicated that sterling was headed
downward with momentum and le.
locity that promised % take 10 to
levels unlhought of ten du}s aeo.
In the face of thi rapid dcprDuu-
ton bankers here we've wondering to-
uight how much LONGER Grrut Britain
would pay tho premium and bus
goods in this market which ahO can
get elsewhere whore the value of hen
money ls greater They wore of The
opinion that American factories and
producers would fcp tho pinch II
rates went much lower that cancel
lltion of war orders for everything
except what Grcat Britain can not m-
ford 20 do without powder and shot
rifles and shrapnel. aoropanes and
automobiles would follow aud that
there would be few new orders placed
hy London in America except for pus-
itiNe noeeasitce
Reason aud Hcmedy Clear
The reason and the remedy seemed
clear IA the minds of international
bankcrs here THE Enalsh pound
sterling has become deprecated. thct
said because London has failed 20
provide a mclhod here ot paving he
bis bills now coming due ID American
shippers The remedy would be-. thcs
thought 10 establish quickly ,cn
quickly. unless sterling should be
come atm further deauacd mann
moth credit loan lu th4a mulLet Am
etlca dops not want British gold "a
pay for supplies. on this point opinion
was unanimous The laulm of Wall
street and the bauka Ia ho interior
are already choking with gold More
gold would tond Co ereato period 1T
enormous initiation
what New York bankers want O.
DO is 90 lend Groot BrWu m gnorm
onH sum ur money, tu bg spent In paN.
ing bills here. ON approved collateral
of high class American railway ANA
b..
it is believed VIII restore conditions
TO noarlf normal Apparently Great
Britain Intends to adopt thia course.
officially neither GraH Britain nor
her fuancicrs have gitcn uu uklug
Go bankers here of what they intend
90 du 90 remedy the situation
When the depumuon 30 BRITISH
bankers reaches Now York ou Its mia.
sion 20 stra.ghteu the market thr
VIII come With plan Il was author
itntiye} said tonight Of which their
associates 900 Aew Nek are wholly H
ignorance
London tuu, Warned
ln this connection ID was learned
tonight ghat some uf fh, meeDsl u
torn1Uouul banking Bonuses II Sew
York had pointed ouf 800 tagu ,lHlg
conferences 90 London luau,'gs
three Weeks aao ihc danger thU ufk
cd ahead and had sugRestud Dnut.
which pursued. would have stead
sea iho markets ton mo1th 81 WuI
permanent methods of correction
could no applied ne tuu dizzy There