The Richmond Virginian. (Richmond, Va.) 1910-1920, 1915-09-11
British Financiers Will Proba-
bly, Succeed in Arranging
Billion Dollar Credit
CORDIALLY GREET
AGENTS OF ALLIES
In Order to Preserve American
Export Trade Sterling Bills
Must Be Placed on Par
Basis

New York, Sept. IGNORE than one
hundred men. from the financial cen
tres of the country representing the
greatest financial institutions of the
United States, extended greeting
to the Anglo French financial commits
sion, which arrived on the Lapland
in the morning, i'll the library of J. p.
Morgan this afternoon.
Although the reception was entirely
serial affair, TO have the visitors
meet the men with whom they are
to confer" 1t was explained, the gem
eral agreement afterwards was that
IL marked the debut of the United
States as world financial centre. Out
of II SO soon as the method has been
decided upon will come the establish
ment of credits of a minimum of bill
lion dollars, either by loan or In some
other form.
Pending formal meetings it was made
apparent this afternoon that there
will be no detailed statements made.
but several facts were emphasized by
men who attended the conference.
Not Designed to Furnish War Funds.
The conferences. to be held TO con-
slider the best way of meeting the
present foreign exchange situation. are
not designed to aid the allied nations
in the purchase of more munitions Of
war. Those have been provided for
land will continue to be paid for in
cash.
The object Is to establish credits so
that the normal exporters Of the United
States, the wheat men. the oats men,
the corn men. the cotton growers and
ali other staple producers may export
their products not only to the coun-
tries at war, but to all other countries
In the world able to receive supplies,
receiving therefor bills of exchange
through the worlds exchange center,
London. at the fixed price of s4sse5
for a pound sterling. It Is this vital
necessity for producers of the United
States which has drawn all the great
banks of the country into an approval
of the movement Chicago, Cleveland.
Detroit. st. Louis New Orleans. Gin
cinnati, Kansas City, the cities OF the
far west are Just as much concerned in
the success OF the plan as New York,
Boston, Philadelphia. Pittshurg Balti-
more, Buffalo. and the ea>s ern cities
1t was for that reason that all were
represented.
No plan was agreed on today and
only tentative plan OF operation.
Settle Down to WOYk Today.
The six members of the commission,
four from England and two from
France but In reality they are rep
resenting Russia. italy as well, will
remain at the Hotel Bltmore and to-
morrow morning they will begin their
conferences. 1t was not revealed that
any committee of American business
men will treat with them. but for
the first period of their stay their
conferences viii be general until the
consensus of expert opinion has been
determined. This may take weeks, but
ultimately 1t is expected that they will
be successful.
The enterprise of the visitors and
their eagerness to get to work was
early shown this morning. The White
Star liner Lapland arrived at Quarau-
tine at midnight Thursday night and
IL was not long before j. p Morgan's
yacht. the Corsaire. dropped down and
anchored of safe distance Even
at that hour the members of the COM
mission--Baron Reading, chief Justice