The Washington times., 1915-02-16
MODELLING THE CASH

MODELLING THE CASH
Americans who have been conf
dent about the great commercial op-
portunity which must come to
America as a result of the war,
may we'll read with interest and con-
cern the report which the British
chancellor of exchequer has made
on the fiscal alliance which has been
arranged among the military allies.
In effect, Britain, France, and Rus
sia have pooled their national
credits for the prosecution Of the
war; and thus a financial power is
formed whose like has never been
known. In this alliance, Great Brit
ain is easily the leader. She is not
only the richest Of the three coun-
tries, but her wealth is to q much
greater extent in liquid form; it can
be turned into cash, and the cash
drawn from all quarters Of the
world. Britain's soil is not occupied
by any invaders, and the waste of
war is Insignificant there as COM
pared to effects in the other coun-
tries. "Business as usual" is going
on in England; going on, indeed, in
a way that holds promise of
strengthening rather than weaken:
ing England as a business and finan-
cial figure in the world.
When the war is over, England
will have invested 2 vast amount OF
capital in Russia, France, Roumania
Belgium, Greece-in all the countries
with which she is allied. She will
have, been the fiscal agent of the al.
lied powers, doing the brokerage ir
their consolidated credits. He must
be q shortsighted man who suspects
that Britain will fail to accumulat,
her share Of the trade advantages
from the resulting situation.
Russia is one Of the great fields
Of prospective development fol
American enterprise. II needs {
great variety Of manufactured ar
ticles, and will need more Of then
after the war. Likewise, Britain il
already our greatest foreign market
it needs and will in greater measure
need the things we have to sell.
Now it happens that the things VI
want to sell to Russia, England ais
has to sell; and the things we wan
to sell to England, Russia has il
large part, to sell. Russia can pro
vide England and France with mucl
of the agricultural products that W
have; England and France can pro
! vide Russia with the manufacture
that we have to sell.
The result of such a close pooling
of interests as is being effected un
der stress of war, must inevitably b
to make the allies desire, during an
after the war, to buy as extensivel
as possible from each other. Rus
sia will want to pay her debt to Brit
ain in the export of products; an
Russia, by all accounts, will be
vastly greater producer than eve
before-for it will be a vodkales
Russia. Mr.. Lloyd-George declare
that the productivity Of her labo
will be increased 80 to so per cen
Either figure may be too high; bu
there will be little question Of an in
portant increase.
| At the same time, this. flow q
British and French manufactures I
Russia will naturally induce q n
turning current of Russian specia
ties to those countries. A single il
stance will suggest the importanc
of these possibilities. Russia POI
sesses some of the greatest oil field
in the world. British interests hav
long been establishing themselves q
| WuCu 40 pOoolUlo III IuCSC uCiuoS {
have American. If there is any tel
dency toward closer relations .b'
tween the countries, it will be lik'
ly to increase the advantage of IL
Britishers in the competition to col
troll Russian oil. The same advan
age wilr be found in other direction
Once established, as a result ,
such intimate international symp'
thies and interests as the war
creating, these commercial relation
, will tend to grow and increase. TT
, part which Britain is now playing ,
> financial manager and banker of Il
coalition, is exactly what she play,
) on a less scale in the Napoleon
wars; and after those wars the r
, wards came to her in a vast expa
I, sion of trade.
Al II is hioh time that Auaricar