Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1919-03-25
PLAN POOLING NATIONAL
RISKS WITH RESOURCES
Manfred Emanuel Proposes New
Scheme for Financing League
:, OF Nations.
MOULD INVEST rRE,,lrM Ms
J, Each Country Agrees 10 Psy Cert ain
"a Levy TO Trustees OF big l>und-Nt.
lacking Government Would tor-
Il felt Money.
u, MANFRED EMANUEL.

~ LONDON. March 2;---cau tn scheme
& Of International insurance as a basis Tor
{ the lcaSuc OF nations detailed IN ;ic
? previous artIy!e) be made reality
And how?
- l'rcfeSso" J.. T. Jacks states in the
"Hibbcrt Journal Of which he Is odj-
Tor, that IL a beginning were made with
the war dcht the process might easily
= he extended. !, is clear chat indus
trial civilization Ia enormously in deb;
owing 10 the var: 1t is also clear
= that tremendous industrial revival *
! pceded TO make good the losses OF the
war. 10 meet the charges OH the wav
debts. and 20 supply the immense re
sources required for reconstruction.
Thus there is close connection be-
tween the ~ae debts and tho rossibil-
tics of Industrial revival. and the Qucs-
ton az once arises: Can International
action DC taken for minimizing the
industrial nations by pooling the risk
and by pooling the resources 10
meet it:
- cooperative action Of this Kind. by
dealing with war finance in the past,
opens an opportunity for putting de-
ctsire checks on the war finance Of
the future. Moreover. the process
would RAPIDLY extend until 1t had per
mcated the whole realm OF Interim
tionaily insurdbic RISKS.
Professor Jacks SAYS:
Let Us suppose tina: tho nations.
oeSir"us % concerted action for the
SOuiiiioi! p'HCE'. ana moved by a DOW
crfui cooperative impulse. have ere
ated Il vas; fund 10y contribution all
round, TO be Internationally admins
tered as protection against certain
RISKS in "hici! they arc al. involved TO-
Sether.
RESOURCES OF LEAGUE
IN MANY INVESTMENTS
The resources TO be thus invested
arc doubtless OF many kinds: they con.
sist, for example. Of capital IN actual
being. OF trading advantages. OF tan
siole things like territory. ships,
routes, ports, coa!inE stations markets
!: gold and OF intangible things like
credit, or even intelligence. skill. OK
/, perience, good faith. Let each state.
then according 10 its ability. stand
ar the other OF these forms, uot only.
Investing lis money IN tho fund, bu,
: iending i, the means and the mon
Vnat arc needed 10 put tho money 10
created, with or without territorial
nasis, constitute a reserve against Ccr.
tain risks which expose tho industrial
interests OF the nations regarded AZ
unitarE. TO possible shipwrccH'
we arc now TO suppose tina; the
whoie mass OF war Indebtedness has
been placed under international man
Hscmcnt and control The necessary
t Dow oeins vested IA board OF
trustees chosen al hoe on tho ground
at their ability 10 deal with such MAI,
Mrs and their proved loyalty as pub
nc servants
Let the board now charge itself win
a IN, task OF organizing the who
iinance OF war Indebtedness as = uni,
tary system, collecting from each ma
ton the revenues required for tho ser
VICES or the debts selected as reason
ao!E good and guaranteeing, under
specified rules. the paymcm. OF the in.
fercs:. ''' Az
INC !nte-nationa! reserve being cor.
&Nutcd. LEI each guaranteed SAT- now.
sa IN annual payment TO the III
s.tHdSio!iai trust proport !onate TO IN.
guarantees II was seeking. tho ma
Tor such annual payment being raisnd
~ a compulsory insurance tax o., tic
noie or rs debt holding population,
manner presently 10 he dcsc-iEa1j'
by thcse two names our !n,orrotiG-j
JUS or board IS now equipped with
.uhas n hand and w..A prospcct.[c