The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-09-26
NEED or HASTE SHOWN.
ssFinRncinI tbronicic'' Points out
Danger to WhcRt Growers.

The Commercial and Financial Chroh-
tcic OF september 20 in its leading cdi-
torial points out that the successful
placing Of the Anglo-French loan in
this country Is Of vital int rest to the
United States and says no stone should
be left uuturncd to insurr its early hota-
ton. In case of failure Of the negotia-
tions it is pointed out that not only
will the banking interests " the coun-
try suffer but also the manufacturers,
the agricultural classes and all pro-
ducers.
The Chronicle then says Tho com
mission has its part to perform. II
must make the terms so liberal that
the success of the fiotation shall he a
f~oregone conclusion. II cannot afford
to haggle or be niggardly. We do not AL
lude in this to the allowance to the
syndicate managers. for these would
doubtless be willing to give their SER
vices gratuItously, just as did tn" syn.
dictate managers Of the New York city
loan twelve months ago. We have ref
eronce to In" rate OF interest ON the
notes or bonds and the rate of return
to he allowed on the investment, The
combination of bankers underwriting the
loan will Of course want to find lodg-
ment for the bonds or notes among in
vestors and the moncyed classes, and
the rate of return should be high enough
to insure subscriptions in Overwhelming
amounts.
cit is absolutely necessary that the
entire community should give its aid
TO the movement I'm an ungrudginE
fashion Every one has 50 much at
stake in the solution of the problem.
II any one thinks the import or the eX-
port trade does not concern him let
him pause and consider. A moments
reflection will convince him to the con-
traTy. our exports embrace all classes
Of goods and commodities from the
raw products Of the farm to the nm
ishcd goods of the manufacturing con-
Germs. Farm produce, Of course, goes
out in prOdigiuus amounts, and there
Is scarcely an industry in the country
hat does not ship larger or smaller
quantities of goods to foreign markets.
Let thes" foreign markets he cut off
and "A glut must ensue in the domestic
market, with lowering of prices and
eventual depression, curtdilment of out
put, with diminished employment as
the natural concomitant.'
II il pointed out that the two countries
engaged in negotiations for the loan are
our two largest customers, and an
elaborate tabl" Of statistics Is given to
show that the value Of the leading
articles Of export from the United States
for IN" year ended June 30, 1915, was
Sl,h37, S6i 600, Of which England took
$3.50, 069 600 and France S@24.NU 600.
For the ann" period In l9li the value
Of the total exports to all countries was
Sl,42S, 100000, Of which England took
S46l,dlS,uo0 II france Sl2S, 49,. 600.
The chronicle then continues: what
would happen II We now d-nied to Great
Britain and France the privilege Of
rurther trade with us by declining To
assist in the marketing Of notes or bonds
for the rehabilitation Of the foreign oN-
changes" The answer H. very simple.
Export to Germany, Austria and
Turkey are already eat on. Those To
Great britain and France would, IN this
event, AIS" bv reduced 10 dwiudliuE pro-
portions, The result Mould be that our
entirc export trade would be In danger
81 utter Generalization