New Britain herald., 1915-09-02
ENGLISH PAPERS
 DISCUSS FINANCE
Argument Advanced That I'm.
 portation Is Too Heavy


 States the Morning Post today urges the public to restrict it's purchases of goods for importation, saying:
 Nothing can so materially and per- manently relieve the situation as the actual reduction in our purchases abroad. Over and over again, when exchange has been adverse to the United States, the situation has been righted by the rapidity with which the American people faced the situa- tion by a process of economy, drasti- cally curtailing their imports Many of our imports from the United States can be done without temporarily if the public will economize drastically. During the war we should cut down all those imports which are not really essential"
 More Gold for U. $.
 Arguing for the imm ediate despatch to New York of a very heavy gold shipment, the Times declares: Ut is futile for New York to urge that America does not want gold. Gold happens to be the specific for the existing malady, and it is our busi- ness to administer it. The adjust ment would certainly be supplemented and fortified by the placing of a large British credit if that can be satis- factorily arranged. *. Though we were prepared for temporary ups and downs during the period that ! must remain before anything practi- l cal can be accomplished we hardly l anticipated so heavy a fall as yester- 1 days
 "There seems some Likelihood that 1 recent official statements as to an- nouncements regarding remedial measures need be entertained; but | Rome was not built in day, and l while our representatives are going to 1 work we must have patience and bear | the temporary discomftures as best i We may.'
 ''Let Things Slide.'' The Daily Mail attacks the govern | ment for letting things slide" so long, 1 and says
 Lack of foresight in handling d long threatening situation has caused amazement in business minds. Owing to the expense of remittance it is virtually impossible for people to
 
 mittance yeterday was at a standstilI, the whole business being utterly dis organized. Things need never have come to this pass, but the whole ques- ton now Will De arranged very soon since the government has handed over the problem to real business men,"
 The government is urged by the Chronicle to make some official an- nouncement regarding the steps being taken. The mere announcement from the authorities that the diff l culties are in a fair way of being l overcome, 'it says, "would immedi- ately cause sharp rebound in eX- 1 change. American financiers are be- coming restive, fearing cancellations 1 of orders and the transference of British purchases to other markets. l With both sides anxious for a settle l ment we ought not to have to wait long,"
 The Express says: Important in- 1 f1uences have been brought to bear to remedy the unsatisfactory state l of the exchange problem. An official announcement, no doubt, soon will be forthcoming. The situation has not created any alarm in the money market for the simple reason that l the outcome of negotiations now pro-
 ceeding is awaited with complete l confidence"
 l Short Term Loan. l Financial newspapers urge prompt action by the government. The Fin | ancier says it hears that the delibera- tions of the bankers committee will l take too much time, while what is l wanted is immediate, if only tem- porary measures to arrest the fall. Authorities are agreed that short term loan is the best way out of the l difficulty. Surely. a small loan could be placed at once and increased later if necessary. Such a step would re-. store confidence"
 No Check on Imports. The Financial Times declares little relief can be expected from the pro- posed restriction of imports 'In &C., 1 tual working it says, This method | is slow and uncertain, and it must 1 be remembered that the bulk of our | ordinary imports from the United 1 States consists of raw material and fCodstuffs the flow of which it Is l undesirable to check
 The same journal, emphasizing the | necessity for prompt action, calls at- tention to pending shipments of l wheat, etc, importations as the re- suit of which Great Britain now is l entering on the period of the year | when it's indebtdness to the United States normally is highest Discuss ing the danger of the present uncer-