Business & Finance: England Tested

The greatest pressure upon the pound sterling in foreign exchange markets always comes in the autumn. During the fall season, the British regularly purchase large amounts of our cereals and cotton, and in consequence are forced to make heavy payments to the U. S. Even before the War, in the absence of other offsetting factors, sterling tended to sag in terms of U. S. dollars.

London bankers and British Government officials are, for this reason, looking ahead to the coming autumn season with considerable anxiety. Thus far it has not been so much of...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!