Pine Bluff daily graphic., 1915-08-26
England and France Al Propose to Buy All Avail
 able Wheat and Corn. {
WOULD KEEP COTTON A
 IN U. $. TILL NEEDED
Details of Plan Provide for Floating in United States During Year Loans of $1,OOO, ,OOO.OO0. Money to Be
 Spent !n This Country.

Washington, Aug. 25.-Detals of plan whereby Great Britain and France hope to heal all commercial differences with the United States ov- CT the blockade of neutral European ports have been made known here.
 Through the operation of this plan the allies expect to make market for the entire export cotton crop this year, and in. addition they will at tempt to purchase all quantities of wheat, corn, and packing house pro ducts which are available for export. Would Get Money Here.
 The allies contemplate floating loans in this country during the en- suing year which will approximate $1 ,OOO ,O0GOOO. The arrangements for the handling of these loans are being completed by J. P. Morgan & compa- ny of New York. They are the result /! of series of conferences between Mir. Morgan and the British ambassa- dor, Sir Cecil Spring Rice.
 The money which is raised in this country will not be sent to Europe, but will be placed in the hands of the New York bankers for the purchase of supplies. These supplies will con- sist largely of cotton, grain and pack ing house products. The purchase of war materials and munitions will continue to be made by the Morgan firm. but through these, new loans it is expected the healing of blockade differences will result.
 Store Cotton in U. s.
 I Under the new plan Great Britain and France will store much of the cotton in this country, drawing upon
 it from time to time as they need it. Also they will act as cotton distrlbu- tors to the remainder of Europe.
 By this arrangement they will not
 have to seize American cargoes bound for neutral ports, but will be enabled to determine for themselves whether the purposes to which neutral Euro pean purchasers intend to apply cot ) ton are to their advantage or not and
 in determining this, differences be- tween the allies and the United States will be eliminated.
 Great Britain recently suggested in- formally that the United States should allow cotton exports to European neutrals only in quantities relative to
 exports in previous years. This coun- try reflected the suggestion flatly and
 pointed out that Great Britain itself
 had reshipped to those countries
 quantities of cotton far in excess or
 their imports from the United States
 in normal times.
 Allies Anxious to Reach Agreement. Ever since the receipt of the Brit
 ish notes in answer to the American protest against the neutral blockade, ! efforts have been made to reach an agreement over the future conduct or
 the blockade. The British and French ambassadors have conferred frequent-
 ly on the situation and in turn have
 consulted Secretary of State Lansing.
 The protests of this government
 against the allies blockade have wor- . ried British and French diplomats.
 and this accounts for the eagerness
 to remove all friction. The allies new plan may or may not meet with the approval of the government.
 Will Not Permit "COrner." Unless American exporters are able to obtain prices from the allies equal to those they would obtain if they were free to sell their goods in neu- tral countries, the United States prob ably will block the scheme to float a billion-dollar loan and corner the export market in wheat, cotton and , packing house products. : If Great Britain plans to play the f middle man for it's own financial ben g eft the United States will object ? strenuously If, on the other hand , Great Britain enters into the arrange 5 ment as selling agent insofar as g the neutral countries are concerned, ] this government may countenance the
 arrangement. t.Sa