The Alaska daily empire., 1915-08-27
ENGLAND AS A BORROWER

It Is suggested that England should place loan in the United States to the amount o s5oOOOOOoO in or der to stem the downward tendency Of British ex change It is said that the London banks already owe the United States that amount-a remarkable change in the situation in the months, for Americans owed London banks nearly SSO0OooO00 at the begin ming of last November This great debt to the United States is in spite of the circumstance that we have purchased back from Great Britain approximately s5oo 100000 of our own securities. and have made many loans to Canada and South American and other coun tries which transferred the eerdits to London in pay ment of their debts is also in spite of the fact that we have grabbed practically all of the gold England had in Canada and got many millions from London. South Africa and from many other places where England owed One Of the last shipments for the credit of Great Britain was about s45OOOOO from Japan. and dis patches say that S1SOOO0Oo is the from from Aus tralia-
 The British government dislikes to part with all of this gold and is 10th to sell bonds in the United States Her fayorte remedy is to compel the sale Of American securities to our people, and to encourage that procedure learn today that she is planning to place heavy tax on American securities in order to force more rapid sales. British investors dislike to sell American securities because they see an inevitable rise in prices soon and they desire participate in the profits that that win mean
 While in the end. perhaps the most profitable method of adjustment to this country would be that of purchasing back our securities yet Is evident that that process is working hardship in certain quarters This is SO because as long there is present an sx- pectation that millions of American securities are to be dumped on the market there will be any marked advance in the price of those securities Consequent g our own people are tmid about further investing 0.o- fc ofry the fear that money will be required to prevent these unusual and unnatural sales from depressing values of our securities to the point that positive hardship may result
 There is however yet another phase of the sit nation These observations have been based upon con dous as they are now just as the plans of fnanciers have been directed toward the settlement Of the debt now owed But this great debt that is owing to the United States is being added to of sl5oOoo GOO month and it would grow faster if it were not for these pressing difficulties Americans are becom- ing leary about selling in spite of the willingness Of the buyers until they know more about how they are going to get their pay.
 In the end. all the remedies will probably be ap- piled Great Britain will ship gold from London and South Africa and Australia; she will ship securities from Europe she will turn world wide credits as they become due. and she will sell bonds in add- ton unless of course there should be early ter imitation of the war.
 The cause for this great strain on Great Britain just now of course is not all due to her own buying but it is due to the that she is bearing the 6runt of the financing of other countries She has aided Italy and Serbia; and f other neurals enter the conflict she will be called upon to aid them.
 At any rate 1t will seem strange to have England the great banking and lending nation Of the world coming to the United States as borrower
 And in spite Of all of the uncertainty. the circun stance that VIC have the money lend whenever Eng land comes that s of course if desire to lend it creates something of a resttu feeling.