Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1915-09-19
WAR EFFECTS DIVERSION
OF MISSION EXCHANGE
Funds Sent Abroad Heretofore We're
Handled Through London and
Converted Into Pounds.
NEW YORK BECOMING CENTER
American Board OF Missions Has
Shipped Hundreds of Thousands
Through Standard Oil Company
Into Near East.

One effect of the war is 70 divert
missionary fund exchange from Lon
don to New York permanently. For
many years almost all missionary
funds sent abroad by the United States
and Canada were converted into pounds
sterling, and handled through London.
Now the sum so passing is less than
a half of the total, or about 100000
n year out Of q total OF s12.000.000. If
the war lasts another year exchange
10 London Will be reduced to that ac-
tually spent in countries depending on
England. Some say 1t may fall to
S2.o00,00O n year. New York is gain
ing, and II Is declared will hold the
gain.
SO desperate are money exchange
facilities in the near east that the
Standard Oil Company and missionary
societies have been CO. operating to get
money into Persia. Turkey and Syria
and also to transmit money that Cali
clans, Hungarians, Armenians and others
want TO send back to their relatives.
No money is really sent for 1t can not
be, but missionary societies have paid
money into the Standard Oil here. and
the company has ordered It's money
TO be paid out in Constantinople and
Beyroot. Armenian and even Galician
=
and money for their friends is getting
into the war zones in this manner
Even Egyptians arc getting money in
this way.
TRANSMITTING MONEY
BY DRAFT ON BOSTON
For several months the American
board transmitted funds to CONSTANT
nople for the support of its missions.
at the rate of $4,000 month, through
1n
York Some six months ago ii became
apparent that the treasurer of the
American board in Constantinoplc
could secure funds TO better advantage
by selling drafts on the American
board treasurer at Boston due three
days after sight. This method is fol-
lowed nj the present time. and by X
the American board has sent not only
the money necessary for the support
Of its missionaries and institutions. but
some $3.50, 600 in relief money trans
mittcd b. individual Armenians and
J inks in this country to their families
and relatives in Turkey TO be paid
throughout Asiatic Turkey by the mis-
sionaries. This relief money. as we'll
as .he board funds. is transmitted into
the interior of Turkey in n similar way
the missionaries selling drafts to
local purchasers on the treasurer Of
the American board at Constantinoplc
interior a we'll as the missionary re-
mittarces. II appears that people in
Turkey who have money in their pos
session much prefer to exchange il for
an American board draft. which they
are less liable to lose in case of local
disaster.
SOUTH AMERICAN EXCHANGE
IS ALSO DIFFICULT
Money exchange with South America
fg- a .itL
different way. Rates fiuctuate TO such
an extent that II is increasingly i'm
practicable to transmit money at all.
Missionary societies are hoping that
the new ventures of American bankers
in South America will remedy matters
In China also silver is way down, and
the present rate Of exchange between
China and the missionary societies in
America and Canada is only forty-two
cents, or discount of more than half.
Christian societies and Jewish relief
agencies are almost on their beam ends
SO 10 speak, not in ability to get hold
OF money for their work and TO keep
people from starving, but in distrac-
tons over the handling and transmit
ting of funds. Americans are cheer
fully giving money to save the lives
and families of German missiona ries in
distant fields. But fluctuations of ex-
change, and impossibility of getting
money through at all. are making mis-
sionary administration more difficult
than the world ever knew IL to be be-
fore Every society having work
abroad is in trouble
IT is said that conditions with the
Catholic foreign missions do not i'm
prove. The great Catholic foreign So
ciety has headquarters in Lyons, and
france has long been the chief source
OF money supply. Now that source is
almost wholly cut off. while Germany
and Austria. liberal givers heretofore,
Will not contribute through a French
society. even II physically able TO get
rremittances through. The society col
iects money one year and pays 1t out
the next. so the stringency will not
come until next January Meanwhilo
Catholics OF the United States and Can
ada are being called upon 10 save the
work and the workers.