The Bridgeport evening farmer., 1916-09-06
World of Finance
BANKER CLEWS'
 !, WEEkLyLETTER


 The most important event connected with the war for many weeks was the formal entrance of Roumania into the contest. Greece is expected to follow. In all probability, these events will tend to hasten the end. Fifteen na- t,t Ls are now at war; Germany will te likely to prolong resistance, how e yer. for the reason that her lines will as they contract, and she will have the advantage of being at home and conducting her operations within a well-organized circle or ter ritory, Her forces are becoming moro and more highly concentrated. while the Allies are more widely scat tered upon the outside of the circle.
 Our smashing foreign trade record is m old but interesting story. The total exports from the United States in July were $445,ooo.o00 or $177.- ooa, 900 moro than a year ago and 31oa, 900, 900 more than in July, 1914. Imports> for the game month were $1s3. oooAp0o, or $ss,sss.sss ahead of a year ago. This left an excess of ex- ports for the month of $262,80O,0O0 compared with $125.oo0.o0o last year. During the seven months of the calen- dar year, our exports aggregated $2,- S1o, 600, 900, which was $9,566,000,OO0 in excess Of last year; while imports resched 1,467, 100000 or about $450- OOo. 900 moro than last year. The ex- cew of exports for this period amount cd to 31,469, 100000. an increase of Sls7 900 900 in seven months. While there was . moderate slowing down of exlDorts in July, as usual at the end of tlSs old crops, the general volume of exports upon this huge scale was well
 naintained, chiefly because of contin- ued heavy munition shipments. The 'lakter promise to be liberal for some tirne to come; but aside from this feat uro our export trade Is in excellent condition. large foreign orders for rail- road material having been received this week. which, though a direct se- qusnce of the war can hardly be clas- sifAd as munitions. New York city is bensdting enormously by this expan- sion In foreign trade, nine-tenths of which belong outside of this port and simply pass through to other points Since the war began, shipments from New York have about trebled in value. Now York is reallya a port of great na- -fional importance. It is the nations principal gateway and Is entitled to moro consideration than it receives from national legislators who usually make political capital by creating pre- judice in other parts of the country against this center. These vast tram sections have also been largely financ- ed at this center, much to the advan- tage of our industries at large.
 The stock market stood up against the railroad dispute with remarkable .-turdiness, and declines were much less than anticipated. This may have been accounted for by belief that a strike would not materialize, also by the fact that the roads are exceptionally pros porous, or further that the market it. self was in too sound a position to be seriously affected. General trade conditions continue actvie for the sea- son and traf1c is correspondingly large; in fact, the car supply is in danger of being totally inadequate to meet demands. Crop news is still unfavorable, though corn is ripening more rapidly, and the wheat harvest is progressing. Cotton. however, shows very heavy deterioration, the Govern ment report indicating a condition of 1912. This is drop of about 20 points in two months and compares with 69.2 . year ago.
 International Coin.
 After the war the world will be a very different world from what it 1as before. Governments and their citi- gems will become vastly more demo- cyatic and travel will be more general betwssn the people of the various na- tionA. hence the money for the conven- ience of travellers especially should be simplified instead of remaining so con- fusing and 50 difficult of understand ing as it is now throughout Europe. America. England, France and Ger many ought to agree upon one inter- national coin at least, representing an equal amount and value in absolute gold, which will pass current in each nation alike; each country to have its own stamp upon all they issue. If it worked well Japan, China, Russia
 and other nations if they so desired could be admitted into the combination This plan would make it easy for trav- ,elers going from one country to anoth- CT. After the war there will be more
 world intercourse, and a universal standard would materially help trav elers and do away with the complica-
 tions now caused by each country hay ing it's own coin money. It is also
 timely to suggest some other method of settling our foreign trade balances
 than by the crude and un-economic
 method of gold shipments. Why send
 gold to and fro across the seas at con. siderable risk and expense, when if a suitable institution were created bal
 ances could be adjusted merely by a
 transfer of credits or shipments of cer. Ifihcates? The present methods ot gold ahiDYnent are clumsy and worthx