MOBILISATION IN U.S.A.

Evening Post, Volume CXXVIII, Issue 51, 29 August 1939, Page 9

MOBILISATION IN U.S.A.

PURCHASE OF WAR MATERIALS

REPORTED PLAN

(By Telegraph—Press Association—Copyright.)

(Received August 29, noon.) WASHINGTON, August 28,

The British Government ban onj trading in foreign securities is interpreted as the beginning of aj mobilisation of the huge British] assets in the United States to finance the purchase of war materials here. It is anticipated that in the event of war the British Government will establish an agency to liquidate securities, thus avoiding dumping and a depressing of value. British and French assets in the United States are estimated to exceed 3,500,000,000 dollars, of which 2,625,000,000 can be easily liquidated. British holdings are estimated at over 2,000,000,000 dollars. Canadians also nave sizeable investments. What use will be made of investments depends on Mr. Roosevelt's steps under the Neutrality Act. The Assistant Secretary of War (Mr. Louis Johnson) today called die latter the "Discrimination Act," and declared that the arms embargo was equivalent to presenting Germany with an Atlantic fleet.

The stock markets in America are calm in the face of the, international tension^ and the dollar soared in terms of world currency, sterling, at 4.29 dollars t~ the £, recovering from the opening price of 4.12 dollars. Stocks, while declining early, rallied towards the close. Bonds, especially those on the foreign list, and United States issues, continued to be ■weak, Polish issues losing as much as nine points.

Wheat closed at over a cent per bushel higher, but cotton lost a dollar a bale.

Among a wide variety of interesting American developments having a bearing on the situation were the following: The American Ambassador in Germany (Mr. Wilson) expressed opposition to any American embargo on the shipment of foodstuffs and raw materials to belligerent nations, and also declared as illogical an embargo on arms while permitting shipment of materials that could be used for the manufacture of arms and munitions.

Mr. Green, President of the American Federation of Labour, appealed to German workers to refuse to support war preparations and the war drive which Nazi leaders are making. "We abhor war and protest against it," he said. "We insist and demand that differences between nations should be settled peacefully by conferences and consultation. I supplement the appeal made by representatives of the British workers, to German working men and women to join in protesting against; war and opposing the threat of ■war.'"