The Birmingham age-herald., 1915-09-03
FRENCH AND BRITISH COMMISSIONERS ID
 ADJUST EXCHANGE
Foreign Financial Repre- sentatives to Correct Mis- apprehension in the
 -Hf United States

London, September 2.-G:15 p. m.)-Plans for correcting the abnormal exchange sit uation and putting on a stable basis the entire machinery of settling trade bal ances between America and Europe will be clarified within the next few days on the arrival in New York of the French and British financial commission. Both commissions have received their the French commissioners having sailed from Boulogne last Saturday. Authori- ties have requested that details regard ing the British commission be not dis cussed until the delegates are well outside the danger zone.
 It is known the commissioners are in po- sition to correct some misapprehensions believed to exist in the United States concerning British. French and Russian dependence on America. One of the best informed authorities said today:
 The idea seems to prevail in New York that we are on our knees and beg ging America to come to our assistance. The situation is exactly the reverse. America wants to sell Europe It's goods and if Americans hope to continue these sales they must find means of giving the usual credits and stabilizing ex- change"
 Commissioners Hopeful
 The British commissioners are fully conversant with the attitude of the gov ernment, which does not regard the sit a finn a a Ia n,, government view is decidedly hopeful, as the recent success in floating the gigantic war loan has given 1t confidence that the largest financial problems can be sur- mounted readily
 The commission will be in position to point out that two distinct classes of credits are being incurred in America. The first results from purchases of SUD- plies and munitions by the allied govern ments; the second from ordinary trans actions between private traders.
 Not the slightest question has been raised regarding the governments ability to make payments as fast as required on it's purchases. This Is likely 1t is pointed out. to be emphasized by the read mess of the British authorities to pay in American gold eagles if any question exists regarding the exchange rate on sterling.
 Government Interested
 As to ordinary private sales. this is not considered a matter pertaining to the government, but one which buyer and seller should adjust. However, the gov ernment is interested in seeing this pri- vate adjustment satisfactorily accom- plished, to preserve normal and healthy financial conditions. A plan for dealing with credits growing out of private sales probably will be presented by the British and French commissioners.
 Indications, however are that over lures will be expected from the American side. as highest officials here hold that If America wants to sell it must pro- vide the means of credit. It is pointed out that America's great wheat crop will normally be taken by Europe at good prices if credit system is provided by American sellers; otherwise 1t is stated, the wheat yeld in India. Australia and Canada apparently will permit Great Brit ain and her allies for the first time to buy their wheat there instead of in America. India, Australia and Canada will give the necessary credit facilities.
 This is one feature of the situation on which the commissioners are fully iil- formed.