Show WHY ENGLAND GOT SCARED Bank of Unseemly Conduct Accounted For ForThe ForThe ForThe The Bank of England has recently had a representative In the United States to investigate e the fInancial situation says a Boston paper Early In the summer when American securities were depressed the banking interests of England dis discounted discounted discounted counted American bills freely patted American financial interests on the back and said YOU are arc all right richt Samm Sammy r my boy bo take all the credits you want but you OU know you will have hav ha to pay and there are area area area a lot of you getting credit over here and If your crops should go wrong you might find yourself In a pretty pr tty bad fix Uncle Sam was polite and admitted that he did not know how his crops were com corn ing on this year When Uncle Sam got home the old lady ladr of street looked over her accounts and did what she neve did be before fore She dispatched a representative to the United States to investigate the t e basis of credits that were being extended ette ded in London to American Interests English finance began to find itself in the situa situation situation tion lion of the man who contracted to deliver pig Iron on the depression just before the breaking out of the civil war H Hp He said when he delivered the last t nig of o iron Mr Blank I knew when I signed that contract one of us was stuck but I did not think it would be me meThe meThe meThe The Bank of ot England En land now finds that American crops are bumpers and their power to draw gold temporarily out of the Bank of England practically unlimited unlimited unlimited Meanwhile American bankers have pledged enormous blocks of securities with international drawers of exchange e eso so that American financiers can flood the fhe English En discount market at any time When Then therefore this month Egypt called for and America inquired the price of another million the Bank of i England held a special meeting and put up the discount rate to 6 per cent despite the protests made by the leading Amer American AmErican Amerlean ican lean bankers that they would not draw gold I Previously the Bank of England peo people people I pie had asked a ked the city to stop discount discounting disco discounting nt ing in American security bills but against a this the American interests protested and I the bank withdrew Its request In brief the situation Is that America Am not only owes a lot of money monc in England i the power to owe a lot more morl and does not dare daro to exercise that power too I far It is only a question of time when I the exchange l of the world will be drawn I at New York Instead of London The units of finance are arp now too large for forthe forthe forthe the Bank of England to handle f |