The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1919-12-26

NEW YORK. Dec. cS.-American Inn
porters now purchasing goods in Eng
land. France and Italy for shipment to
the United States. are waxing fat as q
result of tho depreciation Of the pound
sterling, the franc and Ira according
to stories now going the rounds Of the
New York wholesale district.
The only ny in tho ointment. Tor the
American buyers abroad Is the fact that,
by a Presidential order several weeks
ago. United States consulS are required
to keep tab on big purchases. ascertain
the selling price and cable these facts
TO the United States customs author
tiles. Then, by figuring the rate OF eN-
change on the date Of purchase. the
government is enabled to set a proper
value upon the goods for the eollsction
Of import duties. A Court Of Claims
passes upon what are alleged to be un-
fair appraisalS.
The situation is said to be somewhat
like this: An American buying pound
sterling say. on December l.. needed to
pay in American money only 1885 FOR
British currency normally worth ABOUT
$4.s7. Now he goes to a factory in Not
tingham. Eng. 10 buy laces and there.
although prices OF course are higher
than before the war. he pays for them
in this deprecated British money and
makes a Handsome" profit. Then he
ships the laces to the United States
where. by reason of the imitation Of the
American dollar. they are retaited for
from 100 to 80 percent. above pre-war
prices. t$
The same importer. on the same date.
we will suy, goes to France. In Paris
he has exchanged his American dollars
for francs. Normally there are S.lSI
francs to the dollar but now he finds one
yankee 'simoleon' will buy ll.52 francs.
about 50 percent more than before the
war. The price OF silks has gone up
but he goes TO Lyons and there. win
his deprecated French money. he buys
more than he has ever bought before at
bargain prices. The silks reach New
York where they arc sold to the con-
sumner at double their former retail
price.
he finds the Ira. 5.1S3s of which like
the franc before the war could be
bought for one American dollar. now a.
= vast discount. In fact. he receives
t3.47 lire for one American dollar and.
we'll financed. goes 10 Naples where he
neSotiates the purchase OF tapestries
costing. of course. more than in l3lt
bu, in reality cheaper when purchased
with the present italian currency.
The same financial conditions exist al:
over Europe and in the former Central
Empires. OF course. 'hc; arc reporter
much worse. In III" Allied countries,
however where thcrc is national stao.i-
ity and greater ability 20 pay: tho de-
preciated money Is effecting some
strange changes. A dinner which: &c
fore the war. in Paris. could be had Tor
a nominal sum. now costs from ~ 10 81
francs. ~
American manufacturers. meanwhile.
who desire to sell their products abroad
are demanding payment in American
dollars At par Recently the Belgian
government. II is said. bought twenty
American locomotives. for which pay
ncnt instead OF being IN Belgian money
was demanded in American dollars, thnf
adding from - 20 81 per cent 10 me
= manufacturers normal profit. M
turallv this diScourngcs foreign BUYING.
on the other hand. big American 10
connective concern. apprehenSlHc OF the
turn Of political affairs abroad due %
DELAY over the peace treaty. Is reported
practically to have cancelled all foreign
advance orders Such orders. calling
for delivery in three. six. or nire month.
arc said 10 be practically non-existent N
the locomotive trade Similar conditions
exist in other industries. That ls Wh!
American manufacturers have been SAP
ing: "If the peace treaty is not soon
signed Il will moan the complete loS>
OF cur foreign trade"
There are committees of the mos
prominent United States bankers An
business men. representing the Amer
rican Bankers Association. the United
States Chamber OF Commerce and tho
International Trade Conference VIII;
have been at work on this problem o.
foreign exchange for months and wh'
will DC ready to remedy the present Sit
uation tS soon as the peace treaty pc
comes a fact for the American nation
1T is a noticeable thing. SAID oH'
Wall street banker. that foreign cN
change has had it's most preclpltou'
and serious decline since the rcJectioi
of the pecce treaty by the senate. I'M: