The Chattanooga news. [volume] (Chattanooga, Tenn.) 1891-1939, 1919-02-15
NOW FACE NEXT
BIGGEST TASK
ReadjuStment of Worlds FL
nancial and Economic Re-
lations Is Problem
BEFORE PEACE COUNCILS
Three Different Organizations
Created to Deal With
Pressing Question.

Paris, Feb. 1o.-With the subject Oh
|thc league of nations now cut of the
|way for some time to come. the big
gest .Dssblem before the peace con-
ference at present is believed to be
the roGdjustment of the worlds fi7
nancial and economic relations.
Three different organizations have
been created to deal with these sub
'JctSS. fsofife vr~thcfr conclusions are
rcaot for consideration as soon as
the conference is willing to receive
the reports, although the last body
created in this connection dates back
onl% to Feb. s.
'filis body is the supreme economic
ccuncil. and its work IS OF the great
.cgs Immediate Importance. 1t has
bcln charged temporarily during the
aiTligtice period 20 handle only such
pressing questions as are the dis
position to be made OF shipping. the
of the blockadt. which has
bcen holding back not only the en-
cn.y's industry but that of neutrais;
the distribution of raw materials, ana
Finally, those financial questions that
REQUIRE in3tlIt ultentioss.
This council, which includes some
lof the ablest tinanciai and business
mi;ids OF America and Europe, has
firmly but quietly and without eX-
citing animesity been suppiantinS the
military officials who mad been deal
irC with the same subjects. 1t was
f4lt that the handling of these aues-
items by the military was only in
cidcnt1l to the war and that tne time
had come to place them i'll hands
trained to deal with them. 1t was
this opinion held by the supreme war
council which caused the economic
council TO be created, as IT was de-
sired they be dealt with on the safe
ard sound lines of civilian expert
cncc.
OF more permanent value is ex-
pccted To be tho work OF TWO otner
organizations created by the peace
conference. These are the economic
drafting commission ana the imam
cisl drafting commission. These in
clude distinguished financiers from
all the entente countries. The eco
homie drafting commission already
bias its report before the peace con-
ference awaiting action py tnat body.
Its high importance may be judged
from the fact that it has undertaken
to make practical application OF
I he third of President Wilson's four
teen points, namely. that declaring
for the removal as far as possible of
I'll economic barriers and the estab-
liShmcnt of an equality of trade con-
ditions among all of the nations con-
senting TO the peace and, associating
themselves for its maintenance.
Between Friends and Foes.
The problem involves the right of
nations to discriminate between
friends and foes in their trade rela-
tjons and the propriety of continuing
the many special trade treaties with
their differential tariffs, which in the
---5st so often have jeopardized the
peaceful relations of states.
The financial drafting commission
is dealing with another subject of the
greatest moment to the business
world. 1t is this commission which
will have to meet the insistent de-
sSand of some of the European ma
iions for the pooling of all the cred
Its. debts and resources Of the ma
I .ons-a proposition which seems
certain to be strongly. resisted by the
American representatives.
OF scarcely secondary Importance
is the task of obtaining information
as to the financial resources. present
and prospective, Of the enemy coun-
/ ries, in order that the commission
on reparation may complete its work.
which is based on the idea, one OF
fhe delegates intimated. of making
the enemy pay all that he can safely
be made to pay.