The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-02-16
ECONOMIC QUESTION
NEXT GREAT PROBLEM
Read usfment of World FL
nance Has Complications.

PARIS, Feb. 15.-When the Supreme
Council reassembled this afternoon Col.
z. M. House occupied the place of Presi-
dent Wilson. Col. House will attend the
council meetings regularly until the Pres
dents return to Paris.
With the subject OF the League OF Ma
tons now out Of the way for some time
to come the biggest problem before the
Peace Conference at present IL believed
to be the read tustment OF the world
financial and economic relations, which
have been torn to pieces by moro than
four years OF war.
Three different organizations have
been created to deal with these subjects.
and they have been so hard at work
while the conference has bean struggling
with the central idea Of tho League of
Nations that already some Of their con-
illusions are ready for consideration as
soon as the conference 10 willing to re-
ceive the reports. although the last body
only TO February 8.
This body Is the supreme economic
council and its work is OF the greatest
Immediate Importance. It has been
charged temporarily. during the armis-
tice period, to handle only such pressing
questions as arc the disposition to be
made of shipping. the abatement OF the
blockade. which has been holding back
not only the enemy's industry but that
OF neturals: the distribution Of raw ma
terials, and. finally. those financial aues-
lions that require instant attention.
This council. which includes in its
membership some Of the ablest financial
and business minds of America and Eu-
rope, has firmly but quietly and without
exciting animosity been supplanting the
military officials who had been dealing
with the same subjects. 1t was felt the
handling of these questions by the mil
itary was Incidental to the war and that
the time had como to place them IN
hands trained to deal with them. It
was this opinion held by the Supreme
War Council which caused the economic
council to be created, as II was desired
that they be dealt with on the safe and
SOUND lines of civilian experience.
CT more permanent value isI expected
to be the work OF two other ofganiza-
lions created by the Peace Conference.
These are the Economic Drafting Com
mission and the Financial Drafting Com
mission. They also include In their
membership distinguished f1nanciers
from all the Entente countries The
Economic Drafting Commission already
has its report before the Peace Confer
ence awaiting action by that body. Its
high Importance may DO Judged from
the fact that 1t has undertaken to make
a practical application of the third of
President Wilson's fourteen points,
namely. that declaring for the removal
as far as possible of all economic bar
riers and the establishment OF an equal
ity of trade conditions among all of the
nations consenting TO the peace and as
Bootaung themselves Tor ITS maints-
nance.
The problem involves the right of ma.
tons TO discriminate between friends
and foes III their trade relations and the
propriety of continuing the many spe
cial trade treaties with their dfferentia
tariffs, which in the past SO often hav,
jeopardized the peaceful relations o
States.
The Financial Drafting Commission |,
dealing with another subject of the