Every evening, Wilmington daily commercial., 1918-12-24
LONDON INSISTS HUNS
SHALL PAY FOR WAR
Must Restore Lost Shipping Ton
mage and Supply French With
Coal, is View.

Coal, IS View.
London, Dec pa special committee
Of the London Chamber of Commerce
dealing with trade during and after the
war has reported that the necessity for
imperial preference in trade is strongcf
yesterday than ever
II recommends that the government be
urged TO guarantee for senes oi years
continuance hy subsidy or otherwise, ol
the new or key" industries.
II recommends also that tho peace
terms should compel Germany 10 make
the fullest restitution for all allied ton
mage and cargocs sunk hy enemy action,
such reparation TO be made in ships West
phalian coal or money.
FURNISH FRANCE WITH coal.
The committee would compel Germany
20 furnish France with coal until the de-
hhcratClv wrecked French mines arc re-
established. and to compensate the rcla-
tivcs uf All Scamcn and passengers muir
dcred at sea
This committee also proposes that ~
an act Of Justice 20 the allied enemy
vessc'S shou q not allowc J on { { SC
until the fullest reparation had bcen made,
that no financially controlled enemy ton
nsgc should be allowed under neutral
flag. and that no coaling stations. owned
or controlled hv subjects OF enemy coun-
tries should hc permitted IN British or
allied ports or possess ions
This report was made public almost
contcmpuraneously with a report Of the
Committee on Financial Facilities q
Trade After the War, issued today by the
Ministry 81 Reconstruction. The com
mlttee chairman was sir II. v. Nassar-
SMITH
MUST IL TEND CREDITS.
There will be an increased demand for
credit facilities during the reconstruction
period and the ability Of trade snd in
dustry generally 10 provide for its fin
clal nee \ will depend lr e'y on tee
fmo ut 81 reserves u his cen posSil le
TO ecu 4ul'te S"vs TIC report
There are three msin divisions under
this head. the report SAYS. They are
firms engaged upon war vort, from
date soon after the beginning Of tho
war, firms which became engaged on
war work AZ later period and new
firms created as result ~ the Cnor-
mously increased demand for war ma
tcrial The chief financial difficulty,
according 10 the report vii bc in con
ncction with the third group.
To achieve the reconstruction of trade
and industry on sound financial and
economic lines. the report continues, it
viii he necessary 70 re-estabiish = sound
financial basis by means of an effective
gold standard that will check any undue
expansion Of credit and 70 take steps
TO reduce the imitation az credit TO more
normal proportions The hanks Will he N
position TO meet demands for ordinary
banking facilities
In order that enterprises Of national
importance may have tie first call upon
the availablc supply of capital it IS de-
slrable 10 maintain for period fter
the war supervision over new issues and
over the export Of capital.
URGES HARDsHiPs COMMITTEE.
ON the question Of STATE aid 10 indus
try thc committee recommends the for
nation OF 3 committee 10 deal with
cases of hardship arising out Of con
tract for munitions One Of the largest
factors 10 the demand for assistance Will
be the necessity for the requirements Of
factories. alienation Of machinery and
shortage ~ materials which viii have 10
b, met bv increased financial facilities
The committee thinks that fears as TO
the ability Of trade and industry TO
NEE, the financial needs during the re-
construction period have been exag-
gerated In spite OF the increased taxa
ton. very large number Of established
trades have been able 20 accumulate
sufficient reserves for the needs OF re-
construction.
Commenting on the expansion Of
credit and paper currency the committee
SAYS that whereas the total deposits
al the banks Of the nlted Kingdom.
exclusive of the Bank 81 England al the
end Oi 1913 amounted 10 81 ,070, 900 90
the amount Of deposits now is near.y
q 900 .0g0, 900
The committee SAYS that II Is IS en-
tial for the reconstruction Uf industry and
commerce 10 impose restrictions a. soon
a. possible upon the creation of addlt ioDal
credit " the restoration Of al effective
gold standard
eAFTIALFCR NEW ENTERPRISES
b. pollcy Of trade organizati ion now
IN evidence il welcomed Us tho con-
mIttec as furnishing sound basis for
grantlng credit facilities Ia industry
The committee also believes that u
part ~ the new issues of stocks which
i
ing es'ablishmo nts, we're IN the form Of
preferred stocks giving good return
10 dividends and were reserved for the
" norkDen, il would materially assist
10th financially and in other actually
mportant direct IONS
Regarding state and while the com
nittee does not recommend the guar
inteeing Of banks by the government or
he IDycstmeut OF DuEllC money ia loans
10 persons Who have been unable to OBJ
ain them from other quarters, it is con-
ldered that cases Of hardship may arise
nd % meet them the committee sug-
tests the establishment of small com
nittee Of government officials and busi-
less men 10 consider the claims and 10
ict as a tribunal The committee is also
4 the opinion that II would be Of great
assistance 10 manufacturers If pro-
PORTION of the excess profits tax should
'e retained for a period as loan upon
eTIns Likely 80 secure an early Repayment