The Birmingham age-herald., 1919-03-02
F0ch Presents Military Terms of Peace Treaty
 to the Conference
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(Continued from Page Onet debts and >debts made before the war in enemy countries Another heading deals with state property in territory taken over, such as state mines and state rail- ways.
 The most important heading is en- titled: "Reapportionment of the wal debts of the allied countries on fair basis While not presented in detail this heading opens one of the largest questions presented to the conference. According to the French point of view the huge debts piled up by the war have fallen unduly on France, which is now carrying the largest per capital load. It is maintained, therefore, certain portion of these allied war debts should be pooled so as to be international obliga- tions instead of being carried by France alone. This is on the theory that the war was not fought only as defensive measure by France. but as an interna- tional conflict in which France bore the brunt because of her geographical posi- tion.
 AMERICA HOLDS OFF
 Thus far, the proposal to redistrihute the war burden has not been considered favorbly by the British, American or Japanese missions. The British do not wish to add to their burdens by taking part of the continental burdens, While Japan believes that she should hold aloof from European indebtedness.
 It was at first suggested this reappor- tionment of war debts be incorporated in the peace treaty, but because of diff ferences of opinion this suggestion was abandoned and the present suggestion contemplates reapportionment of the debts under the financial section of the league of nations which reported favor ably yesterday.
 Neither suggestion, however, has yet been passed upon by the supreme coun- cil or the plenary conference ana the magnitude of the proposals leads to the belief that there will be considerable dis- cussion before any such measure as sumes definite form.
 Another heading of the financial re- port concerns the method of stabilizing international exchange which has been seriously deranged by war conditions. the issuance of paper currency and other measures. Another heading is the possi- bilities of interallied loans from neutral states, as it is understood that neutrais have large stocks of money which may assist in the readjutment of world fi- nanceS.
 The article concerning enemy financial interest in backward communities covers such countries as Morocco, Turkey ana China and what should be done with the Germna- -Bagdad railway and German concessions in parts of China.
 Most of the foregoing subjects are be- ing considered with veiw to permanen' conditions after the war although the concerning the war and pre- war debt of the enemy may figure m the peace treaty.
 The economic report presented to 1nn council was similarly comprehenslVe' covering vast economic readjustment foi- lowing the war. It proposes an extensive inquiry with respect to raw materials their surplus and shortage in various countries, with view to stabilizing ex- ports and imports according to the worlds needs.
 The most important subject mentioned relates to equality of trade operators This does not affect tariffs or customs among the various nations, but seeks to end trade discrimination, unjust state monopolies, dumping methods and fav- ored nation treatment
 Owing to the extension of the reports presented discussion of the council IS ex- pected to take considerable time.