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WAR FINANCE.
New York, Sept. 12.
The Allied Financial' Commission, of
-which Lord Beading is chairman, has al-
ready 6ecurel promises of a loan, of
£160.000.000- It is understood that the
Ooniiiiisison requires «very dollar that the
Americans can be induced to lend, and that
it is hoped to raise a loan of £200,000,000.
France. Russia, and Italy will participate in
the Joan as well as Britain. Mr. J. P.
Morgan is entertaining the delegates, who
include the Canadian Minister of Finance
(Mr. W. T_ Whitei.
Loudon, Sept. 12.
The correspondent of the "Daily Tele-
graph" at New York reports that Mr. J.
P. Morgan invited a number of prominent
financiers, including bank and trust presi-
dents, to a conference with Lord. Reading's
Commission to discuss the question of a
loan. United Stales' bankers have ap-
proved of tentative plans for a £100,000,000
credit endorsed by England, France, and
Russia, at 5 per cent, iu ter est and partly
secured by American bonds and stocks.
London, Sept. 12.
A committee of the British Association,
reporting on the finaucial effects of the
war, states that Germany's pre-war debt
was a thousand millions sterling, and it is
likely that an additional 1,500 millions will
be added. The report anticipates that
Britain will emerge from the struggle in a
better position than the other belligerents,
but at a disadvantage compared with the
United States. The latter will have the
eream, Britain the milk, and the other
belligerents the skiin-milk.
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