OCR Text |
Show MONEY CHEAP AND RENTIFUL Great Britain Maintains an Even Business Condition Without Regard to New York Exchange. RIGID RULES OBSERVED Economic and Financial Damage, Dam-age, Thus Far Inflicted, Is Astonishingly Small. (Correspondence of the Associated Press). London Iprlj 2 Money remain-cheap remain-cheap and plentiful The government apparently Intends to maintain this londltion. even at tho risk of seelug New York scoop up, as a result of tho strict regulation! imposed, some of the outside financing heretofore done through London. The government control over capl tal Issues undertakes to protect its supply of funds and to conserve (ho private supply aqainst :ioidable drain, is far reaching. Under this scheme ordinary ."iuaucing must pass a kind of censorship Private capital may not be furnished for British enterprises en-terprises unless It can be shown to satisfaction of the treasury that they are advisable to Rrltish interest. In the Briiisb empire overscan the rule Is Somewhat more rigid; there must be "special circumstances and urcni necessity." Outside the empire em-pire there Is absolute prohibition, the treasury reserving tho power, however, how-ever, to authorise issues of capital There- is some difference of opinion among tlnancial men as to what the future effect of lhese artiflcbil bar riers will be upon their control of world finHiiciug. The opinion li ex pressed invariably however, thru Knr; kind ?. supremai as the financial cen-Ler cen-Ler of the world haa not bean shaken E n g I i 6h Shipping and Trade. It is pointed out thtt Entil?!i tOiip-p tOiip-p ! li jt aud trade are- the Foundation upon which the supremacy rests lo which must be added the influence of iied habit. Inasmuch ir England's control of shipping i as secure as ever and her commerce and industry have not been organically injured a vet, it is felt that tho world-habit or clearing everything through Indon will persist. Nevertheless the war has compelled a transfer to New York of a fraction of the financial business hitherto done In London. From what can he learned by gen oral inquiry, the belief is almost uni renal thai should the war end within with-in a year and to the advantage of Great Britain the economic and financial fi-nancial damage inflicted on this country coun-try will be a-stonishincly small In this connection emphasis is laid upon one point; that against the Rlgantlc hills for war expenses must be reckoned reck-oned England's creat surplus income from trade which continues in spite of the war though In diminished volume. vol-ume. oo |