The Birmingham age-herald., 1919-01-29
Task to Apportion
 Debts of the World
BY HOLLAND

By HOLLAND
 New York, January 2S.-(Special)
 Thomas w. Lamont and Albert Strauss will be- if the Atlantic ocean is not too
 boisterous, in Paris by the first or sec ond of February. When they will return to the United States, depends upon the settlement of some financial questions which may involve billions of dollars. President Wilson apparently learned during his conferences in Paris that the finance would inevitably be called into use if these great questions which are not so much political as economic, are satisfactorily settled. In the financial dis trict it was said today that it might be easy to say what should be the amount of the ndemnities which Germany must pay, but it might be far from easy to determine precisely how these indemni- ties could be secured, and how they may be distributed. Then again it may be found worth while to reach a desision favoring cooperation between all of the allies with respect to liquidation of the great debts which have accumulated since the war began. The United States ! is to be financially represented at the conference directly or indirectly by the recognition of the fact that our allies are debtors to the United States by as must as sS,5oO oOO,o0o, and that the aggre- gate may become as great as sl0,00O 900 ,0O0 | within year or IS months.
 ] Limitations have been received in the
 financial district that prosposition may
 be made that the aggregate war indebted ness be apportioned among the nations, 1 including the United States. This Is looked upon as an echo of a proposition made few weeks ago. that the United ] States send a recelpted bill to England, France, Italy and Belgium and in that way, by one stroke of the pen, wipe off lthe books the accounts which show what Ithe indebtedness of these nations to the United States for borrowed money or for credits is. When Great Britain and l France came to the United States in 1915 for the purpose of securing a loan of $500 OoO,OO0 Gin fact the original purpose | was a loan of s1 GOO 000, ,0O0) all of the de- I tails of this loan were worked out by | men whose experience in finance and in banking has been extensive and very practical It required few words from | MOTSdU, WUO WAS dt tfic Hedu Ol he syndicate of American bankers which Tt was hoped would underwrite the loan. l in order to establish perfect confidence n the proposition. MT. Morgan said the loan was an excellent one to float, the lsecurty was of the highest because it Represented the good faith as well as the resources of Great Britain and of France, and the business of absorbing the loan in the United States could be 1 a0e ba andleG by American bank CTS That was sufficient. The loan was underwritten and has been absorbed. But it was not so much the work of statement or of government officers as 1t was the work of experienced men of finance wh oh made this possible
 1 FLOATING OTHER LOANS
 Other loans. such Ile Canadian. were taken care of by Amerigan bankers and the aggregate of all this obligation lis now estimated to be considerably in excess of q 0Ge.0oo0C0. So much that land perhaps more must be added to the l figures winch when complete will show he total indebtedness to the United States.
 1 It was not dfficslt for the govern Iment al Wash ngton to lend funds or tcredft to England. France, Italy and Belgium, but it may be somewhat diff lfcuit to liquidate this indebtedness or ito, fix the terms upon which liqufdation lean be ultimately secured. This calls for the services of men who have already tacf,iayad .rreatlv in inc field of iQterna-