New-York tribune., 1920-02-22
British Finance
Declared To Be
On Firm Basis
American Chamber i'm Lon
don Issues a Statement
Supporting Claim Nation
Is Rounding the Corner
Pound Collapse No Index
Loans to Other Countries
Double Amount of. Her
Indebtedness to America

LONDON, Feb. 21s-Great Britain II
fundamentally sound, both financially
and commercially, says the American
Chamber Of Commerce Of London in
= statement referring to differences IN
the financial positions Of Great Bfitain
and the continental European countries.
After q thorough discussion with the
leaders Of British finance, illuminated
largely by the addresses Of the chair
men Of Ave leading British banks to
their stockholders In annual meeting,
tho Chamberso Of Commerce has prepared
. message to the American business
public 1t followss
.The collapse Of the pound sterling
in New York is no index to Great
Britain's financial strength or weak
ness. London is to-day, az before the
war, the monetary center Of Europe.
With inadequate assistance from Amer
ica, Great Britain has been forced to
supply the credit needs Of the Con-
dnent as we'll as those Of her own
traders.
Britain Far From Bankrupt
"Dollar exchange is really New York
Europe not New York-London' OK
change. Great Britain Is neither bank
rupt nor anywhere near it. She Is
she owes America. While America NAV
fairly expect to collect all her British
debt, Great Britain is preparing to
write of so per cent of her Continental
debt
ain spite Of these facts British busi
ness and finance are in a Fundamentally
sound condition. Business men and
workers are recovering from the effects
Of the war. The expression we are
rounding the corner is heard on all
sides Neither British bankers nor
the government expect nor ask further
government or long term loans from
America.
Appeals for American credit in be-
half Of the destitute areas Of Europe
should not be misconstrued as yelled
appeals for assistance to Great Britain.
Debts Between Nations Deprecated
"One-fou1.th of. Great Britain's debt
Is to the United States. It Is neither
an easy nor engaging task to try to
express the feeling in the City regard
Ing lnis. coT the most part IL Is not
mentioned, and no banker has been
heard to express any doubt about the
American debt being paid in full.
Debts between nations do not make for
friendly feelings, however, and that is
why British financial leaders, in con-
fdential moments, sometimes express
regret at their country's huge obliga-
ton and incline toward mutual cancel.
lation all around. At the same time,
they feel that 1t "a for the creditor to
make any such proposal
british bankers see clearly the Joint |
responsibilities Of Great Britain and |
the United States in helping the strick- (
en countries Of Central Europe, and
accordingly are watching every move
being made by the United States to help
solve this problem. Great Britain, they
say, Is doing her utmost and she cannot
do much more. The United States helped
to save Europe once, and surely she will
not refuse to do 80 again. Moreover, if |
properly managed, these much needed
investments on the continent might be
made ultimately to produce handsome
business profit
"Will friendly America continue to
stand By in helping to make tn present
disrupted world normal7 That is all
Great Britain asks"