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Show FOREIGN EXCHANGE. (New York World.) The demonstration in tho foroign exchange market of New York is of Y,ra?rSinary lnnslty. Sterling nJS fol,,,o 4-M. which is the lowest figure within living memorv. It amounts to a premium of 4 i-2 per cent on the dollar in pounds sterling Exchange on Paris, Berlin and Italy mil I "U1CU iWBCOUnt. This Is a situation for England and ner allies in particular which will soon demand heroic measures in the JlaX if uQm?dy Tll0' are Paying very high prices in dollars for American Ameri-can supplies. They are paying high premiums for the dollars with which to pay. Wall street is predicting that 8 erllng will g0 to ?4.25P If it should mat would mean a premium of 12 per cent for the dollars with which to pay prices already high. This involves an enormous addition to tho costs of prosecuting the war It suggests a decided lapse from the gold standard even in England It cannot go on without serious Interference Inter-ference with the American export trade. Why immediate steps are not taken to remedy the situation, either through exports of gold this way of undeSanlin f Pa98es tho England and France have sold enough to meet this crisis and win then have plenty to spaie. But A" iteTl s'anl. they might as well be doing business on inconvertible pane? |