The Birmingham age-herald., 1918-12-30
FINANCIAL ASPECT OF SETTLEMENT OF WAR PROBLEMS IS
 FOREMOST IN PARIS
Proposed Organization of the "Interallied Financial Society" Precipitates Debate in the
 Senate

TaTISs DeCcuDtE <c-Nby <AH-
 sociated Press.D-The financial as-
 pect of the settlement of the war
 problems has been uppermost in
 the minds of those concerned in
 Paris during the past few days.
 This Is regarded, not only by the
 American delegates to the confer
 encc, hut by the representatives
 of the allies who have arrived here,
 as one of the foremost problems
 requiring settlement.
 The debates in the Senate on the re- newal of the charter of the Bank of France and in the chamber of the provisional military appropriations, have disclosed lively interest by both senators and deputies in the proposed organization of the 'interallied finan- cial society," for the liquidation of the combined war debt of the allies.
 SOCIALISTS ATTITUDE
 The socialists, who are taking a prominent part in the discussion, ap- pear to prefer the eventual entry of enemy powers into the association They suggest that the members of the Germanic coalition might be called on proportionate1y to the other powers to pay their share-in round numbers, Germany 6,500,000, 900 francs annually; Austria 5,o0o,0OO, ,0O0; Turkey 2.00O,O0O 900; Bulgaria 500, 900 ,00O in addition to the interest on whatever sum the peace congress may demand as indemnity for war damages, which some have put at several hundred billion francs.
 Deputy Jacques Stern, author of the proposition of an interallied financial society, estimated the total sum to be demanded from Germany and her allies as indemnity at 470,o00, 100000 francs in the chamber yesterday.
 The principal difficulties anticipated are in finding working basis for such a society and in Germany's ability to bear such an immense burden.
 INTERNATIONAL COMMISSION
 M. Stern and other members take the successful organization of an inter- national commission to imagine the Turkish public debt as precedent indicating the possibility of overcom- ing all difficulties of organization, while in answer to the doubts as to whether Germany is able to pay large indemnity they cite the estimates of the resources of the German empire made by Dr. Karl Helfferich, secretary of the German treasury, before the war.
 They contend it will be the duty of the peace delegates to consider what re- Sources may be found for the payment of the indemnity and point to the ten to twelve billion marks that Helfferich esti- mated was the annual savings of Ger many from her forty billion marks an nial earnings.
 The project as now framed seeks to have the United States pay in the same proportion as the nations with which it is associated, notwithstanding that it's participation in the war was much shorter. This has met with considerable objection.
 STERN'S PROPOSED BILL
 The bill proposed by Deputy Jacques international financial union, seeks to tween the nations on the basis of popu- lations and power to contribute. This proposition, according to the Paris re- ports. is supported by 100 delegates of all parties.
 The estimates of the war expenses of the allies, given at the time the measure was presented for the govern ment's consideration, was 424,00O. coo, GOO francs, while the expenses of the central powers aggregated 370,000, ,0o0000 francs. To avoid international bankruptcy, it was declared that such an association was necessary to float an international loan estimated at SIS, ,O0O, ,0000 900 francs, to be distributed on basis of population and production, each state to guarantee it's proportion from customs and other revenues.