The Birmingham age-herald., 1919-06-19
MORGAN BUSY WITH
 CANADA FINANCES
By HOLLAND.

Now York, June 1S.-(Special)-J. P
 Morgan was reported to have been in Canada when the teleghaphic summons came which requested him to appear be- fore the Senate investigating commit
 tee and testify. if he had any testimony to offer. respecting his knowledge of the manner in which the peace treaty reached the United States and whether he and
 his partners had anything to do with that mysterious reception. Whether Mir. Nor
 gan was really in Canada at the time or not is of no consequence in view of the fact that he was, if the understanding in the financial district be correct, ar ranging for the shipment from Canada to New York of gold, perhaps in as large an amount as fifty millions So far as in- dustry. commerce and financial benefits are concerned the negotiations for the shipment of gold from Canada. represent ing London, to the United States is re-
 garded of far more importance than the
 clearing away of the mystery in which
 the passing of the treaty from Europe to
 private hands in the United States was
 enshrouded.
 This movement of gold from Canads.
 where it has remained for sometime. Cam
 ada being the trustee of London, Is spoken of as ono of the most important
 
 which serve to show that we are far on the way towards thorough readjustment of industrial. commercial and financial conditions. There have been and are now many undertakings spon sored by banks and men of capital which represent the general trend towards speedy read1ust- ment. Of some of these the public has no knowledTe. All of them have been 90 rapidly organized and are in process of such speedy development that 1t Is no wonder that there is little realization on the part of the public of the extent to which these readjustment facilities have been carried.
 Naturally enough. in view of the irn- port of gold from Canada, and of the part which MT. Morgan has taken in that movement, there comes recollection of reverse movement which took place with in few days or weeks after the Ger man armies began their march towards Paris. Then Mir. Morgan was the leader. and his leadership involved the accumula- tion of gold in the aggregate of some $ao,- nnn:noo SD that it could be shipped to Ot- tawa These shipments protested the credit of Now York city. whose notes were about to come due in the London market, the city being at that time un- able to buy exchange in sufficient amount to meet the obligations. There was left only one way to do that. and tEat way MT MOredn anu HIS dSooNN'oSS took. The. American banks co-operated and s1o.noOono in gold, approximately. were sent to Ottawa. Thereby New York's credit was protected.
 GOLD COMING THIS WAY
 A little later. approximately, $1o0.oooo GO was speedily accumulated through the cooperation of American banks and sent to Ottawa Tn that way American mer- chants and importers who had impera- tive obligations to meet in London. and who were unable to obtain exchange with which the obligations could be met were protected, and what seemed to pc serious crisis was ended.
 No more gold. at least in any consid- erable amount. was exported from the United States during the entire term of the war Instead. we received hun dreds of millions and the amount became so large that many Of the ablest and most bankers. even the federal board. looked with some appre- hension upon any further increase of our gold in this way. We had already ac- cumulated somewhat in excess of $5.0Qo-