Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-02-15
WORLD ECONOMICS
NEXT BIG PROBLEM
Three Organizations Created
to Deal With Subject Reach
ing Conclusions.
ABLEsT MINDS ARE BUSY

By The Associated Press.
PARIS, February I5.-When the
supreme council reassembles mt
o'clock this afternoon Col. E. NJ.
House Will take the place of Presi-
dent Wilson.
The Russian situation IL set for
consideration at the session today.
PARIS, February 15.-With the SUBJ
jeet of the league of nations now out
of the way for some time to come, the
biggest problem before the peace con-
ference at present is believed to be the
readjustment of the worlds financial
and economic relations.
Three different organizations have
been created to deal with these sub
jcets Some of their conclusions are
ready fer consideration as soon as the
conference is willing to receive the re-
ports, although the last body created
in this connection dates back only to
February 8.
OF Immediate Importance.
This body is the supreme economic
council, and it's work is of the great
est immediate Importance. 1t has
been charged temporarily during the
armistice period to handle only zach
pressing questions as the disposi-
ton to be made of shipping, the
abatement of the blockade. which has
been holding back not only the en-
emy's Industry, but that of neutrals;
the distribution of raw materials, and
finally. those financial questions that
require instant attention.
This council, which includes some of
the ablest financial and business
minds of America and Europe, has
firmly but quietly and without excit-
ing animosity. been supplanting the
military officials VINO had been deal
ing with the same subjects. 1t was
felt the handling of these questions
by the military was only Incidental TO
the war and that the time had come
TO place them in hands trained to deal
with them. II was this opinion held
by the supreme war council which
caused the economic council to be
created as IL was desired they be dealt
with on the safe and sound lines of
civilian experience.
Distinguished Financiers Called.
OF more permanent value is expect
ed to be the work of two other organ
izations created by the peace confer
ence These are the economic drafting
commission and the financial drafting
commission. These include distin-
guished fna7cicrs from all the en-
tente countries. The economic draft
ing commission already has its report
before The peace conference awaiting
1.
ancc may be judged from the fact
that IL 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
equality of trade conditions among
all of the nations consenting TO the
peace and assocjating themselves for
it's maintenance.
The problem involves the right OF
{ nations to discriminate between
friends and foes in their trade reIa.
tions and the propriety of continuing
the many special trade treaties with
their cinerential tariffs. which in the
past 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 demand
of some of the European nations TO,
the pooling of all the credits, debts
and resources of the nations propo.
sition which seems certain to be
strongly resisted by the American rep.
. rcsentatiVes.
OF scarcely secondary Importance is
the task of obtaining informat ton as
| to the financial resources, present and
prospective. of the enemy countries In
(Continpcd ON aeeond Paqe.D