The evening herald. (Klamath Falls, Or.) 1906-1942, 1916-06-29

more cxhausting than any nation had
anticipated. the edificc of credit In
London stands firm. and the delicate
London To do It's share In the gieat
struggle. Notably II In the navy which
has made II possible for the allies 10
obtain from America free shipments OF
FOOD and munitions: and although tn I,
orders placed in America have had the
elect OF creating u trade balance ad.
verse 10 the allied countries. measures
have been taken to arrest and control
the fall In the American exchange
u refer. Of course" said Lord Reyel.
stoke TO the mobilization OF ncgotia.
BILE securities and to the restrictions on
certain imports In these matters the
chancellor OF the exchequer has found
the business community ready co.
adjutor. and II the necessity for more
energetic measures for the protection
OF our trade balance arises az time
goes on. there IL little doubt that sub
stantial and hitherto untouched reserve
could be made available by a stricter
regulation of our imports and greater
economy In their distribution.
London has been able to meet all
claims on herself. has been able TO
borrow abroad. when necessary. on
reasonable terms. and In other cases to
meet In gold all obligations abroad to
those who prefer that form of pay.
ment Nor has the financial commun.
ity any doubt but that the freedom OF
London's gold market can be maintain.
ed In the future"
Turning to Britain's capacity for
shouldering the financial burden of the
war In the future. Lord Revelstoke
spoke In a manner quietly confident.
mo serious business man." he said.
will be inclined to underrate the ma.
ture Of an effort which costs the coun.
try $25.O00.0O0 day. Such figures
speak for themselves. The spirit which
you will come across In the business
community Is the same spirit which
animates the rest Of England, one OF
earnest determination to prosecute the
war. however long II may last, to vic.
torious end"
The question naturally arises. wheth.
er this confidence should be modified In
view OF the large advances which Great
Britain Is making to the other mem.
bers Of the alliance. Lord Revelstoke's
answer is that these advances are In.
cluded In Great Britain's war bill. and
fully allowed for therein. The ques.
tion Of the advances to the allies Is. to
Lord Revelstoke. one of politics rather
than OF business. "rhe financial com.
munity Is not Inclined" said he. ITO
weigh over nicely the respective value
Of the service rendered by different ma
tions to the common cause. All that IL
needed Is confidence that all are doing
their best. and about that no doubt can
be felt BY those who know the facts.
"The statesmen Of the allied nations
are working together. They allot one
task to this nation and another to that.
Part. but only part. Of the British share
Ia to finance the allies; more than two
billion dollars were advanced to the
'lllies and dominions during the last
financial year. and the amount 10 not
likely to decrease. It is a serious
but the bill isimet cheerfully."
II was suggested that there are
folk In every country who, regard
finance as secret agency possessing
the power TO instigate and stop wars at
will. Lord Revelstoke smiled. ''War
and trade" he said. "are impossible
bed fellows" Trade. he explained. de-
pends on credit. which IL a reasonable
that goods and services
will come TO market and be sold in
due course; war makes that expecta-
tion doubtful. The profits Of few
specialized business men can never
compensate the community for the de-
struction wrought by war, and finance
depends for its earnings on general,
not on special prosperity Il
Asked how London views We grow.
iny financial power Of the United
States. In view Of the suggestion that
there 10 some jealousy In financial Lon.
don Of this new arrival In the sphere
OF International finance. Lord Revel.
Atoke, speaking with obvious sincerity.
said that never had the friendship be.
tween bankers In America and Ensland
been more cordial. a fact which he
could personally confirm from the IN
tercourse he had had during the last
six months with leading Americans.
The United States had gained greatly
In financial strength since 1914. But
London need not, and does not grudse
that success.
American and British ideals In this
n q