New Britain herald., 1915-05-29
England Financing War.

This war, which will cost Europe untold billions, not to speak of in- calcula ble human misery is being principally financed by England, whose financial resources are proving vastly beyond all possible expecta- tions. In addition to her own huge outlays, she has made enormous loans to the Allies, France, Russia and Bel gium, without as yet showing the least sign of undue strain. In all probability she has loaned big sums to Italy, and Rumania if she enters the war may soon be asking for needed loans which Germany has refused. London exchange is selling at a very smaller discount than that of any other financial center in Eu- rope London will thus have little to spare for ordinary investments, and the world will be compelled to turn to New York as the only important financial center free to finance war or not at it's pleasure. As a matter of fact, we are already giving the belligerents very material financial aid. Important credits have been granted to the allies, much if not all of which is being expended here in munitions of war
 Facing New Era.
 Our banking system not only in- creases our financial resources and enables us to meet emergencies at home, but it places us on the high plane in international finance to which we are now fully entitled. It is not only stcadying and equalizing money rates at home. but it is already facil- itating the entrance of the American banker into foreign enterprises, the fruit of which in due season will be a large growth in foreign orders for American producers. When the War is over, our opportunity will be more apparent than now. As a people we have not yet realized the great op- portunities which this awful struggle will open to America. In reality we are facing a new era. Some of the greatest nations of the world will have to endure considerable period of economic exhaustion, When peace comes, Europe will be obliged to look outside for supplies, and nowhere will they be more accessible than here. Agricultural crops, animal as we'll as vegetable. will be impaired through out Europe for one and perhaps two years We must partly fill the void. Ellrope's factories will be unable to satisfy demands, because many mills are destroyed and the supply of skilled labor will be largely reduced. We must also supply this deficiency. Europe's savings will be greatly di- minished or absorbed In local recon struction, and we will be obliged to largely meet the demands for new capital. No such opportunity for American enterprise and expansion has been offered in this generation. South America, which has always de- pended upon Europe, is already look ing for closer commercial relations with the United States in order to offset the rupture in her trade with Europe. When peace does come, 1t will involve not only important changes in boundaries, but also fur ther vital changes in international trade New tariffs will be devised; new lines of discrimination will be surely drawn between present belli- gerents, and perhaps entirely be- yond recovery. No country stands to l lose less from these deep-seated de- l than the United States, l and no country is better prepared to I take legitimate advantage of the new l situation than the United States.
 No New Tendencies.
 This market exhibited no new ten- | dencies during the current week Hes- | itancy is still its chief feature Money | continues easy and promises to so |