The Birmingham age-herald., 1915-09-16

real financial resources of Great Britain
 are as through cooperation to secure the stupendous potentiality of finance SO that
 the war upon the continent of Europe can l De carried on by the allies with conf dence until they are urged to end it. Very likely MT. Morgan learned when he was in London, as some of his associates then
 and later also learned. what the financial strength of Great Britain is. That is to
 say, he gained information respecting the colossal evidences of wealth which are | held In Great Britain. These can be used
 hereafter probably as bases for obtaining great credits.
 The world at large has little idea of the magnitude of the investments of English capital in the securities issued by her colonies. These in the aggregate amount to billions. They are exclusive of the investments England
 has made by way of loans to other na- tions. England has made by way of loans to other nations. England pos
 sesses, for instance, $500,000,O00 in bonds, which represent loans she made to one of her colonies for the purpose
 of building and equipping a govern ment- owned railroad system in that colony. English capital aggregating
 hundreds of millions has been invested in far eastern properties, especially Hongkong, and the evidences of these debts are in the form of bonds. No one can tell without prolonged study the
 exact amount. of these investments in India. Behind these investments is ac- tual property. English money is repre- sented by hundreds of millions of
 bonds issued either by the Canadian government itself or by municipalities, provinces and railroads in Canada. Not yet. so far as the public knows, has England turned to these securities. Yet it Is not unlikely that they may be made the basis, in association with American securities in which English money Is in- vested, upon which some form of credit or some loan may be established.
 Can Meet Any Obligation
 The American bankers who have &C., curate knowledge of the real wealth of England which is represented by in- vestments of English money in prop critics or in the obligations of her colo nies have not the slightest dougt of the ability of England, so far as her resources and riches are concerned, to meet any obligation of a financial kind which the exigencies of the war may entail.
 So that it is, after all, question of detail. of method, of expendiency, which presumably these commission CTS of Finland and France have come to the United States to arrange
 While the leaders in American finan- cial life, and especially those who have met or are still to meet these commits sioners, have at no time, even in pri- vate conversation, revealed any sense of exultation or pride in the fact that this demonstration is, for the time be- ing at least supreme proof that the United States stands pre-eminent among the nations of the world, never theless there Is really full recognition of this fact. In occasional comments. carefully made, 1t has been said that most powerful of all the agencies ere ated for the purpose of carrying on, by the allies, the war to successful ter imitation Is now in the process of or ganization. One of the great financiers of the United States said a day or two ago that while Germany does not fear the United States from a purely military point of view, yet the leaders of Germany have so accurate knowl- edge of the magnitude of our financial strength that they have respect for 1t sufficient to make Germany anxious to maintain friendly relations with this country. In Germany, 1t is also recog- nized that it Is no breach of neutrality for neutral nation to make loans or grant credits to a belligerent nation. Germany has already obtained some loans in the United States, although probably in an indirect manner. There is no reason why the United States should not, were Germany prepared to offer the proper security and make ex- pedient terms, grant credit or a loan to that country. It Is her misfortune and not our fault that this Is not done
 But when some of the greatest in te1lectual forces of the British Kingdom and some of the ablest representatives of France come to the United States with intent to secure credits or loans of stupendous amounts with the pros pect that these will be obtained. then the world has demonstration of what ultimate and fundamental part colossal financing Is to play in this great war. The United States Is now about to do what the Rothchilds formerly did when wars were devastating Europe.