Evening star., 1923-12-14
BY THE MARaUIsE DE FoNTENOY.


Widespread interest in the business
circles of the United States is likely
to be created by the departure today
from Southampton of special British
financial mission bound for Rio. 1t is
going out on the Invitation and as the
guest OF the Brazilian government,
with the object of collaborating with
the latter in plan for the economic
restoration of the country. and with
the idea that British capital may be
applied far more freely than in the
past to the development of the enor-
nous resources, many of them still
latent, of the former empire of Dom
Pedro.
One of the economic consequences
of the world war was a complete dis
turbance of the financial equilibrium
of Brazil. Under the wise leader
ship of President Bernardez and of
his able finance minister. DR.. Vidal,
the arduous task of reorganization
has already been initiated with a de-
gree OF seriousness that has created
a very encouraging impression
abroad But a glance at the current
shows that they still stand at what is
known as default prices" except. of
course, those bonds which are spe-
cially secured.
fers in the external value of her
credit all the disadvantages of de-
fault without getting any of its bene-
fits. This is partly due to the fact
that comparatively little Is known.
even in well informed quarters. of
her potentialities. Owing to the
changed conditions that have fol-
lowed upon the war, foreign investors,
before embarking their capital upon
enterprises in Brazil, have shown a
distinct tendency to require more in
formation in regard to the situation
of the country than they were salts
fed to receive before the war 1t is
with the object of investigating these
changed conditions, and of clearing up
to the investing public much that at
present appears obscure that this ex-
pert financial mission is sailing to-
day for Rio.
It ia headed by the Rt. Hon. Edwin
Montagu, formerly financial secretary
to the British treasury and one time
secretary of state for India. While
his administration at Whitehall of the
lar and unsatisfactory and responsible
for much of the discomfort and unrest
through the extravaganza of promises
which he made to the natives OF self
government and the gradual reduc-
tion to a minimum of English controI,
nobody has ever dreamt OF questioning
his remarkable ability in the matter
of finance, as one OF the prlncipdl
partners OF the great London ana m
ternatfonal banking and bullion COM
Germ of Samuel Montagu d GO. In
deed one of the strongest oo)ections
urged against his secretaryship or
state for India was the TACT that the
firrn of Samuel Montagu Co:-that
;s to sav. the firm from which he
derives his great wealth-was em-
nfouad nv the Indian government for
Gil sorts of transactions and dealings
in the matter of specie and hscal
Nn one ever dreamt OF contending
~ tha Government of India had
snfYered any monetary disadvantage
srorn these transactions, which were
narried out with profit to the state.
Rut on the other hand, the firm
prestly benefited thereby. and this
5atI,raIly called forth much criticism.
Edwin Montagu is married TO the
Hon. Venetia Stanley, daughter OF the
fourth Lord Sheffield, who enjoys the
aistinction of being the only mern-
her of the British peerage who alb
tured Christianity to become a con-
vert to Judaism. This was to pre-
vent Edwin Montagu from forfeiting
ali benefits under the will of his
colossaliyg rich father, the late. Lord
Swaythling, whose u1tra-Jewish or
thodoxy led him to provide, in his
festamentary disposition, a clause ex-
Guiding fIo8 all participation In his