The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-01-18
FINANCIAL EXPERTS
TO ADVISE WILSON
T. w. Lamont and Albert
Strauss Summoned to Peace
e. Conference.
WILL SAIL NEXT WEEK
Payments to Be Demanded
From Foes Will Be Studied
by Them.
WILL SAIL NEXT WEEK
Special Despatch TO The Sun

WASHINGTON, JAN 17.--President Will
son has approved the appointment OF
two American financial experts. Albert
Strauss and Thomas w. Lamont. 10 at
tend the peace conference as advisers
for the Treasury Department on matters
connected with the armistice discussions
and financial questions. Secretary OF
the Treasury Glass announced the APP
pointments to-day.
Tho question OF financial settlements
which Germany will have to make with
the United States as well as with the
Entente Governments will be taken up in
detail. SO far there has been no indi-
cation that President Wilson would ad-
vocate punitive damages or iademnities
against Germany, but financial repara-
ton for damage done to Americans In
the war will, II is understood. be exacted.
The financial problems involved in the
general peace terms. particularly with
respect to payments to be demanded by
France. Belgium. Italy and Great Bit
ain, also will be studied by the Ameri-
can financial experts.
The question OF loan to France also
Is being given serious consideration IN
Paris. as the needs OF France to achieve
financial recuperation from the strain
OF war are an important factor. II Is
known here that the financial and other
burdens which France must now face
are considerably greater than at nrst
expected.
All that Thomas w. Lamont. men,
Der of the firm Of j. p. Morgan & Co.
would say last night when asked re-
garding his selection as one OF the two
financial advisers to the American
participants In the peace conference
was: II can, OF course, add nothing to
SecSetary GLASS; announcement. except
TO say that ! am happy to be able to
serve the Government in any way pos
sible." II was learned. however. that
Mr. Lamont and Mr.. Strauss will sail for
France the latter part OF next week.
The appointment as financial advisers
to the peace conference OF the banker
who did more than any other one man 10
finance the purchases OF Franco and
England in the United States prior to
our entry into the war and of the vice.
governor OF the Federal Reserve Board
who Is second to none as a foreign ex-
change and International banking ex-
pert, brings to an end deficiency in cur
| representation at Paris which was caus.
| ing grave concern.
Only the peace con.nrses of the United
| States lacked the sort Of assistance that
| banking experts could give and II was
becoming daily more apparent from the
! dispatches from Paris that the solution
| of financial problems might become the
| most important matter to be settled by
negotiation and compromise. The United
| States had loaned on credits to the
Allies no less than $500. 900. 900 AND
In addition the borrowings OF the Allie,
| in this country are close to billion
| dollars. taking In British Government,
| notes, French Government notes, Anglo
French bonds and British Treasury bills
| OF which $50. 100000 are outstanding.
These borrowings by the Allies. coupled
with the problem OF the continuation O.
| our Allies on a gold basis. the growing
| needs OF moneys for reconstruction and
| have to be adopted have been brought OF
are about to be brought before the peac<
conference. To say that the most exper,
| financial talent is needed is TO mention
| only the obvious according to bankers
last night.
Recognizing the vital need OF the coun.
| sci of eminent financiers, President Wi.
son. II was said last night. cabied
| promptly to the Secretary of the Treas.
| ury and requested him to send to Europe
with all possible sped the men mos,
fitted for the great responsibility Of Civ
| ing counsel and advice regarding the
financial problems confronting the con-
| ferees.
Mr.. Strauss. who is now v.ce-governol
| OF the Federal Reserve Board and VIII,
| succeeded Paul NJ. Warburg as mem
Der OF that body. was formerly mem
Der OF the Arm Of J. & W. Selgman 4
| Co OF this city. His speciality there wa.
foreign exchange and lnternationa
banking Bankers consider that he pos
sesses especial qualifications for the mis-
zion on account OF his practical expert
| eIce with finance and business abroad
! and its relation to the United States.
Mr.. Lamont. a member Of J. p. Nor
gan & Co. since 1911, has dealt part,cu
larly first with the sales Of American
securities abroad prior to the outbreai
| of the war in 1914; second. with the re
purchase of many hundreds of million,
| Of these securities from European hold
! ere in the days when the United State,
| was becoming prosperous from its sale,
| of products to the Allies: third. with tn,
hotation in this country OF Anglo-Frenci
| bonds to the extent OF S500,000,0O0 tn.
hotation Of British and French Govern
| ment notes and the weekly sale OF Sl6
100000 ninety day British Trcasur,
| bile.