Trade by Copious Loans New York, Sept, 25.
America gold lying idle instead of being employed in the dovelopment of world business has resulted in ''a complete collapse in world according to Lieutenant Colonel F. Vernon-Willey, chairman the Federation of British Industries, who arrived to-day on the Aquitania, Lieutenant-Colonel Willey, accompanied by Mr. Guy H. Lacock, direc-for of the Federation's foreign activities, came to the United States to confer with American industrialists on a programme designed to bring England and the United States nto close cooperation in stabilizing and improving economic conditions through the world and reopening world trade, Prior to the World War England ent. approximately $1,000,000,000 a year to other countries to stimulate world trade, he said, but since the war she has not had the funds to 0 20. Gold, which poured into United States during the war, has not been returned into the international trade channels, he said, and this situation has led to "the demoalization of world trade.'
As a barometer of "the trade collapse" he pointed to the immense ocean tonnage which he said was Jaid up and which cannot be returned into the trade routes so long as the
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