The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-10-21

ing on our Governments and depend on
ourselves"
The French demand for metals will be
greatly lightened through the acquisition
of the mines of Alsace- Lorraine, accord
ing to the report OF NJ. Pesson- Didion TO
the metals section this afternoon
France. ne said, will have 1000, 900 tons
of steel for export within a reasonable
time.
She will need. however. about 100 .00A
tons of ship plates and go, 600 tons Of
copper in bars and ingots and electro
lytic copper
The Belglans wsre the first to submit
definite requests ~ the food group to-
day. NJ. de Groote OF the. Belgian Mo-
sion stated Belgluin's principal need TO
be 100000 tons of wheat a month
Much OF this, he said, Belgium was now
buying in the Argentine on account of a
favoring price there. He also com
planned Of an apparent discrimination in
freight rates In favor of Great Britain,
but it was explained to him that the
British rate was practically a Govern
ment subsidy.
During the discussion in the recon-
struction group the Belgian delegation
emphasized the unfavorable condition of
exchange by pointing out that the Ger
man mark at the present time is so much
cheaper than the dollar in Belgium that
she can buy her machinery needs at
practically pre-war prices in Germany
though she would far prefer to trade
with the Allies.
In the meeting of the shipping group
the Italian situation came to head, re-
vealing Italy to be the most serious
problem to come before the conference.
Italy must have both raw material
and credit before she can ever begin
to pay interest on what she already
owes. She owes $500. 900 900 to the
United States, $4,000. 900, 900 to England
and very small amount to France. She
wants a ten year extension OF the time
to pay interest for between sT00, 900, 900
and $500, o00, 900 OF goods. If this can
be arranged. Commander Gidoni. the
| only official delegate present, said Italy 5
crisis will have passed within a year
There is the further doubtful state of
Italian politics due to the Fiume trouble
to complicate consideration of her de-
mards here, and none OF her delegates
| to-day were able to give thoroughly sat-
! isfactory assurances.
Coal. iron, grain and cotton, above all
| cotton" said Commander Gidoni, "are
| our needs to-day. To secure them we
| must stabilize exchange" He explained
that as soon as the coming election has
Deen OeClueu tNe lIdlldH boNVi hhlth'
plans an internal loan to reduce the pa
per currency. which bankers have crtti-
cised as excessive. He also promised a
rigorous tax on profteering.
Demurrage Charges Settled.
During the discussion a point which
| has bothered American shippers was
| cleared up with the assurance that
demurrage charges could be made lien
or cargoes in italian ports.
| Sir James Hope Simpson stated the
| British position In broad and hopeful
terms at the meeting Of the finance
/ group this afternoon. Not only is Eng
| land able to finance herself and hel
neighbors, he said. but the British labor
situation has passed the crisis and Eng
lands exports are on rapid rise. They
were unofficially reported TO have
reached already nearly 20 per cent. OF
her imports.
THE vast majority of Britishers never
enter into any contract unless they see
| IT, cir way clear to pay" Sir James said
| I'VE have not come to ask help Of any
| organization. We ask only that no OBJ
| struction be placed in the way OF ordi
nary normal business transactions"
As a result of war the national deb
grew from $500, 000. 900 to $35, 900. 900,
| 900. The country owes $1,000. 000, 00(
! abroad, whereas 1t owed nothing abroad
before the war Foreign Powers anC
colonies owe England $500, 600. 900. anC
although they are not counting on ex
pected indemnlties, if such indemnitiei