Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1919-02-16
ECONOMIC PHASE
Of PEACE TREATY
To Be TAKEN UP
BY PARIS COUNCIL
With League of Nations QueS-
ton Out of Way ENJOYS
Will Now Turn to Read
juSting Worlds Finances.
RIGHT TO POOL ALL
DEBTS BEING OPPOSED
European Nations Favor Pool
ing While American Dele
gates in Attendance Strong-
y Against It,
10y aoRNrne JOURNAL SPECIAL LEASED WIRE

lBf hoRNINe JOURNAL SPECIAL LEASED WlREl
Paris, Feb. 15.-With the subject of
the league of nations now out of the
way for some time to come the big
gest problem before the peace con-
ference at present is believed to be
readjustment of the worlds financial
and economical relations.
Three different organizations have
been created to deal with these sub
jects. Some of their conclusions are
ready for consideration.
The supreme economic council has
been charged temporarily during the
armistice period to handle only such
pressing questions as the disposition
to be made of shipping, the ahate-
ment of the blockade which has been
holding back not only the enemy's
industry but that of neutrals, the dis
tributon of raw materials and finally
those financial questions that require
instant attention.
This council, which includes some
of the abest financial and business
minds of America and Europe, has
firmly but quietly been supplanting
the military officials who had been
dealing with the same subjects. 1t
was felt the handling of these ques-
tions by the military was only inci-
dental to the war and that the time
had come te place them in hands
trained to deal with them. 1t was
this opinion held by the supreme war
council which caused the economic
council to be created as 1t was de-
sired they be dealt with on the safe
and sound lines of civilian experience.
Two Other Commissions.
OF more permanent value is eX-
pected to be the work Of two other
organizations created by the peace
conference These are the economic
drafting commission and the financial
drafting commission. These include
distinguished financiers from all the
entente countries. The redrafting
com mission already has it's reports
before the peace conference awaiting
action by that body. Its high import
ance may be judged from the fact
that It has undertaken to make a
practical application OF the third of
President Wilson'S fourteen points,
namely, that declaring for the re-
moVal as far as possible of all eco
nomic barriers and the establishment
of an equality of trade condition
among all Of the nations consenting
to the peace and associating them
selves for its maintenance.
nations to discriminate between
friends and foes in their trade rela-
tions and the propriety of continuing
the many special trade treaties with
their differential 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 for
the pooling of all the credits. debts
and resources of the nations-a prop
oSition which seems certain to be
strongly resisted by the American
representatives.
OF scarcely secondary Importance
is the task of obtaining information
as to the financial resources, present
and prospective. of the enemy coun-
tries in order that the commission on
reparation may complete its work
which is based on the idea, one of the
delegates intimated. of making the
enemy pay all that he can safely be
made to do