New-York tribune., 1919-06-10
Adjustments of Credits To
Be Big Problem of u. S.
in Aiding Nations to
Economic Rehabilitation
Europe Must Go to Work
Funds From America Will Re-
Given ON Business Basis:
Food Shortage Not Acute

PARIS, June 9 (By The Associated
Press).-"This sort of economic delirium
tremens will end with peace" said Her
bert c. Hoover, chairman of the Inter-
Allied Food Commission, to-day in dis
cussing the situation in Europe and the
need Of financing different nations.
Asked for statement as to the financial
requirements of Europe from the United
States during Che next year, he said:
"Any statement is promised upon
peace and the return of Europe to work.
l do not take it we will finance any
more wars in Europe, directly or in
directly, nor that we will provide money
to enable the people of Europe to live
without work, or to work part time. as
a present all over Europe.
Financial Needs Vary
"The volume of financial assistance
needed, and the solution therefor,
varies with the situation in each state.
Neutral states are 1ourishing and need
cause no concern. Ruman:a, Greater
Serbia, Bulgaria, Arabia, Turkey sex
cept Armenia), Portugal, Greece and
Hungary irtually will be self-support-
ing. In fact, some of them should be
able to export food, and with other
commodities they can export, they can
pretty we'll provide for all their ne
cessltles, except, perhaps, railway re.
construction material, agricultural i'm
plements and currency reorganization.
inese states represent nearly one
third the population of Europe.
Poland and the Baltic states will
produce almost enough bread, grains
and vegetables for their own people,
but will be short of fats. If thew BRO
cure resources for currency reorgani-
zatlon and some working capital for
raw material imports so as to get ex-
ports going, they should, with econ
omy, be self-supporting within very
few months. Czecho- -Slovakia, Bel
gum and Finland have q larger i'm
port problem, for they always require
breadstutfs, meats and fats throughout
the year to supplement their own pro-
duction.
"The condition OF Germany and Ger
man-Austria cannot be discussed intelli-
gently until peace is signed. Of the TO-
oQO,0OO Germans in these two states some
25,O00,000 to 30,00O,0 900 lived before the
war by trade, by the import of raw ma
terra! and export in exchange for food
and other necessities, and these cannot be
supported on the land. How they will
pay an Indemnity and at the same time
obtain credits for raw materials is a
problem for the new commission, whose
duty 1T will be to secure maximum
reparation. If they do not get raw ma
terial and food they will never be able
to pay indemnities In any event, one
possibility that must not be overlooked
is that 100000 to 100000 of this
population may emigrate eastward or
overseas under the economic pressure
which will be their fate at best.
France has the smallest need of the
larger Allies for food imports. Great
Britain can feed herself largely from
her colonies, but both will need financial
help in the providing of credits for raw
material, and Italy will need not only
assistance in raw materials, but in food
supplies. They will also want relief
from the payment of interest for some
time on what they owe the American
treasury
1.-THE first stage was to end the war.
the second to feed the people until peace
and harvest, and the third may be to