UNITED STATES.

Taranaki Daily News, 2 September 1915, Page 5

UNITED STATES.

CURRYING FAVOR. GERMANY KOW-TOWING TO AMERICA. WILL PAY FOR LOST LIVES. Keceived September I. :),35 p.m. London, September ]. The Daily Telegraph's Washington correspondent Itaiii.-i from a high source that Germany has expressed" willing ness, to pay for the lives lost-in the Lusitania. und Arabic, yhe does not disavow fclie destruction of the Lusitania, and explains that the submarining of the Arabic has not been reported. r

In asking (Washington to mediate with London to secure for neutrals the freedom of the seas, Germany maintains that the declaration of cotton as contraband is a deliberate violation of international law, and requests that President Wilson should insist that Britain permits American ships to go wherever they please, even to Germany, provided they are not carrying contraband. Germany expects the United ■States to enforce this upon Britain. American traders would be gratified and surprised if Britain permitted this, l't< tuse Germany is prepared 'to send twenty million sterling worth of products to the United States, thus enabling the purchase of raw materials with' ovt exporting gold.

FALL IN EXCHANGE. CHAOS ON THE MARKET, New York, August 31. The sterling exchange is the lowest on record, £1 reaching 4 dollars 58'/ 3 cents, or beneath the point where financiers expected Britain would be driven out of the American market and purchase war supplies elsewhere. Chaos prevailed on the exchange market. The French and Russian exchanges are also falling. The British buyers are now obliged to pay fourteenpeuee premium on cvorv sovereign's worth of goods purchased in the United States. France and Russia pay similar ratio. No American contract for war supplies has yet been cancelled because of the exchange.