AMERICA COMING ROUND

Poverty Bay Herald, Volume XLVII, Issue 15222, 21 May 1920, Page 8

AMERICA COMING ROUND

FEARS LOSING- EXPORT TRADE. NEW YOltK* Feb. M.yThe, continued depreciation of the sterling exchange is causing growing- apprehension among American financiers, and Anierica's export, trade is 'being" serioueiy damaged; The .sun, which is recognised as the principal organ of financiers, , devotes its principal leader column to-day 'to an endorsement of last week's resolution by the American Chamber of Commerce m London concerning British solvency and the necessity of America helping Europe. The ' Sim Bays that a noisy claque which does not take itself too seriously talks of Great Britain dipping into the Amci'i-* can treasury, but adds : "Meanwhile American bankers, manufacturers, and exporters realise the real gravity of the situation. It is not loans to Great ' Britain which arc m question j it is our trade with Continental Europe, which 'is at stake. It. is not that our "Govern menwar loans to' the British Government will not be paid, for they will. it is not 'that our .private loans" to British borrowers Will hot be paid, for they will. It sis that 'if there" is not concentrated, ■continuous, and adequate American support of the industrial structure m Continental Europe the billions which' our Government took from our taxpayers during ftio war to lend to the Ally Governments of the Continent will be a. lone time coming back, if much of it ever comes back." Commenting on the disadvantage to American exporters of the present exchnngo rate, bhe Sun Bays : "Our oxport trade is not going to collapse, but our jjnp on sonic of the best of it will weaken." «