The sun. [volume] (New York [N.Y.]) 1833-1916, 1916-02-19
NEW YORK TO BECOME
WORLDS MONEY MART
Vienna Banker Sure London Is Doomed as Financial
Centre-Says Dual Monarchy's Position Is Strong,
and That Trade With U. s. Will Grow.

bank deposits decidedly continue 10 in.
crease.
Tn spite of considerable Withdrawals
on account OF payments for Wal SUBJ
scriptions the deposits In the savings
Institutions OF Vienna have risen from
$4,000. 900 to s3s2. 900. 900. This Is an
increase OF II per cent. In the Vienna
banks. The savings banks throughout
Austria-Hungary at the close OF 1916
showed deposits Of $4,000. OOo, 900. the
increase being $3.50. 900. 600 over the fig.
ures shown at the close OF 1914. This
TOO represents an increase OF ~ per
cent. 1t Is evident that our banks will
be enabled to meet with greatly in
creased capitals the important tasks
which a future peace will set to our
ecOnUmic life.
For~sees More Trade with 4. =.
AT the conclusion Of peace It will
not be necessary for us TO come to an
understanding with foreign creditors,
which makes all the nor interesting the
financial negotiations which the Entente
Powers will have to enter upon with
the United States. These negotiations
Will be important for the reason that
they will decide the struggle for f,nan.
cial supremacy between England and
America. Fortunately. we shall re-
main. In a way. outsiders in this
struggle. AZ we have never been to any
large extent debtors Of the Entente
Powers. while our relations with the
United States have beer those OF a
solvent purchaser Of It's exports.
our trade balance In favor OF the
United States amounted to between Afty
and sixty millions annually, for which
We promptly RENTED to the United
SfAfaa In 0nlA ht.A L. -
predict that American exports to the
dual monarchy will greatly Increase after
the war. as the United States will en-
deavor to capture former English busi-
ness with US. Moreover. the tremendous
economic growth Of Austria Hungary
which will be one of the results Of this
war will very likely stimulate closer
business relations between your country
and ours.
How different is the situation Of the
Entente Powers! During the wal there
has been soing on n tremendous how
OF gold from the Entente Powers to the
United States. thus shifting the financial
domination OF the world from London
to New York. Indeed. the time seems
To he approaching when the financial
centre 81 the world will be New York
instead Of London.
1T Is a very pIQuant situation that
Is presented by the certainty that this
struggle for the financial domination of
the world between London and New
York will only be decided in favor OF
America should the Entente Powers be
defeated. In this case. not only Rus
STA. France and Italy but also Eng
land. the country richest in gold. will
be reduced to dependence upon the
American financial market. II conse-
Quently will also be obliged TO respect
the political interests Of the United
States. The domination OF the United
States over the financial market OF the
world will then be undispu,ed.
"On the other hand. should the En-
tente Powers emerge victors and should
England's expectation to pay the En-
tente debts to America by indemnities
exacted from the Central Powers be
realized. then the Entente Powers would
regain their %inancia freedom. and Eng
lands domination over the money mar
kets Of the world would come out of
the war more powerful than ever. The
military results of the war have. of
course. reduced TO II minimum the
chances for England's expectations
being realized. n previous talks Of
demands for indemnity payments in IA
vor of the Allies are no longer heard,
Now they speak only Of their unwill-
ingness to pay such indemnities them
selves. II appears. therefore. that the
struggle between the money markets OF
England and America Is very nearly de-
clded in favor of the United States"