New-York tribune., 1919-09-17
Only Way to Restore Bal.
ance of Trade Is To
Buy of Germany, Says
Ex Finance Minister
Nations Peril Described
America Urged to Adopt
Hoover Suggestion to
Lend Europe 3 Billions

PARIS. Sept. 16 (By The Associated
Press).-ln the course of the debate on
the peace treaty in the Chamber of
Deputies to-day Etienne Clementel, for
mer Minister Of Finance, declared the
remedy for the exchange situation was
for France to cease buying from the
United States and Great Britain, and to
buy in Germany, where the exchange
rate favored France.
The condition Of exchange was termed
extremely precarious by T. L. Barthou,
former Minister for Foreign Affairs,
and J. L. Puech, former Minister Of
Public Works. who demanded a state
ment on the situation from Louis Klotz.
Minister of Finance. Their demand
vas supported by several other depu-
ties.
NJ. Klotz said the exchange situation
was due to France permitting free i'm
portations.
"The only remedy" he said. ais to
show America and Great Britain that
we can go to other countries with a
growing volume of colonial and ma
tional production. Otherwise, exchange
will continue to rise"
Discussing the treaty, NJ. Clementel
said the economic clauses were founded
on plan Of not granting reciprocity
III trade with Germany for several
years, and the immediate solidarity of
France with the Allies. The American
delegation. however, ne said. opposed a
Franco British economic treaty. The
delegation advocated absolute liberty
of trade, and this had caused a rise in
the price Of raw materials and an ad =
vance in exchange
Speech Arouses Storm
The mention of Germany was
drowned in shouts of execration. NJ.
Clementel faced the issue courageous
", informing the chamber of the ne
cessity of this rs soon as possible.
NJ. klotz responded to angry inter
pellations from all quarters, saying he
had warned the chamber of the dan
ger of rise in exchange when free
dom of importation was restored.
"As long as we buy from countries
possessing sterling and dollars, and
sell them nothing, the exchange will
rise" he said
NJ. Viviani, in his plea for immediate
ratification of the treaty, expressed
himself as fully satisfied with the mil
itary clauses giving France new from
tiers against a future revengeful re-
turn of Germany but advocated & close
economic alliance with Great Britain
and America. He opposed a similar
agreement with Germany, on the
ground that France would become
merely a tributary economically.
Wants Financial League
~ Niviani urged the immediate or
ganization Of financial league OF
nations He sad that France in 1914
not only saved the liberty of the
world, but its interests. which makes
it possible now for the allied coun,
tries to flourish. 1t would be distress
surviving the terrible conflict on the
battlefield. to succumb in the eco
nomic struggle.
NJ Viviani spoke eloquently. and was
cheered by every section of the house
The deputies unanimously voted te
post his speech on the walls of Paris
and in the public squares. He was
congratulated warmly by Premier
Clcmenceau and all the ministers.
Pleased With Guarantees
NJ. Viviani expressed fullets conf
dence in the guarantees OF Great Brit
ain and the United States that the,
would come to the aid Of France il
case Of unwqrranted aggression b,
Germany. He said
Had possessed such guarantee
when l signed the mobilization deere,
in August, 1914, should not have hat
to mobilize, as Germany never woul,
have attacked"
Despite the unfavorable situation
with respect to French exchange. Nj
Clementel was optimistic that Franc
would be one OF the nations recover