New Iberia enterprise and independent observer. (New Iberia, La.) 1902-1944, 1919-02-15
AMERICA TO BITTERLY Op.
POSE PLAN FOR POOLING
OF DEBTS OF WORLD

p Paris, Feb. 12.-(By A. P)
While President Wilson and Inc
nPlea premiers and generals are
dTEly engrossed in pcrfectins
1fASplan for the creation of so.
. clety Of nations and arranging the
new terms OF be imposed upon
Germany for renewal of the arm
Ftlce, expiring newt Monday, 9th
or subjects of the greatest i'm
portance are being prepared for
the consideration Of the peace con
ference. 1t is expected the con
ference will spend little time dis
cussing them. however. and will
pass most Of them on to the So
ciety of nations, when the latter
haf5 been created and ready to
function.
Foremost on this secondary
program are the recommendations
Of the commission on internationa.
labor legislation. The commission
is one of the few having an Amer
lean at its head and Samuel
Gompers, the chairman, has been
pushing work along at a great
rate, so II is expected he will have
a report ready for the conference
rs soon as it is ready to receive
To Prevent World Bankruptcy.
Meetings are going on today as
they have almost continuously
during the last few days, between
mcn who have cone 20 Paris at the
cal! Of President Wilson and the
preiniers to deal with great finan-
cial problems arising out OF the
war.
Every delegation admits the
gravity of the problems presented
and the absolute necessity for
their settlement if the world is 10
be saved from universal bank
ruptcy. In no place is it regard
ed as so evident that there muHt
be the fullest and most cordial
cooperation between the nations
now represented at the conference
than in the effort to restore the
stability of currency, reduce PR
ces to reasonable level. get rid
Of supcrhous issues of war paper.
prevent further excessive tluctua-
tions of exchange and regulate
the rates of interest on. and the
amount Of bonds to he issued.
America to Oppose.
Already initial steps have been
taken to commit the peace con
ference to the adoption Of a great
international pooling system of |
debts. which shall include all
neutral atoms, whether they wish !
to or not This will meet with the
most determined resistance from
the American delegates who feel
that America did her full share in
aiding the allies by furnishing
troops and almost unlimited sup
plies of money and material.
They are understood to be quite
willing to rid France of the night
mare of German power in extend
ing further credits to permit
France to rehabilitate her indus
tries and enable her and Belgium
as well to hold their own in the
worlds market, but they thor
oughly appreciate the fact that il
is beyond their power to commit ,
their country to participation in
any monetary credit system with ,
European powers.
They also feel that some Of these
countries have been derelict in not
as the United States
apd Great Britain did, additional
taxes upon their own people dur
ing the war to meet, at least in
part. their obligations instead OF
calculating upon reimbursement
from indemnities to be collected
from the enemy.
! The revival of the spirit of the
old Paris economic conference,
which planned boycotts and after t
The war determinations, is some /
hines in evidence during discus i
sions. 1t made its appearance in /
The desire of one country to im- II
pose discriminatory duties on en- i
,my commerce during the consid 9
Grafton of the plan to make all in t