Evening star., 1919-03-25
CONFEREES WOULD PUT
WAR BURDENS ON u. S.
American Delegates Confronted With Pro-
posals to Ease Allies Debts BY Passing
the Responsibility.

Where can France find sufficient
funds to contribute her proportion?' ~
The answer is very simple to the
European mind"
I'VE will borrow it." they say.
From whom?' ask the Americans.
From America" comes the reply,
And there is the crux of the whole
situation.
Under the various European plans
proposed for the carrying of the war
debts of the world. America would
not only contribute a greatest pro-
nations pool that might be created.
but America would be supposed to
furnish the wherewithal enabling
other European powers to contribute
their proportion to the fund.
Plan for Raising Pool.
It is generally conceded that the
financial salvation of the world. par
ticularly Europe, depends upon the
elimination of war from the thoughts
OF the nations 1t has been proposed
that through the league of nations
there be disarmament. AS result
OF this some of the students of the
funds as each nation otherwise would
nave spent on the maintenance of
large ornaments and navies be di-
verted to league of nations control
and that form of international stock
be issued. On capitalized interna-
tional stock, it is declared, interna-
tional money could be issued to the
belligerent nations for the liquida-
tfon of their war debts and for pur-
poses of reconstruction.
1t is suggested, furthermore. that
this international currency might re-
place to a large measure the use OF
gold in international trade. 1t Is
pointed out that the gold of the world
is less than a third sufficient to Sc
cure the currency of the world ana
that. owing to wartime conditions.
gold production for long period OF
years will not be 60 per cent or what
it was before the war.
Tax Burden for Enemies.
It is furthermore suggested that
without capitalization of some fixed
period of peace it will be impossible
to collect the sums due to the allies
from the enemy. Enemy war debts
are likely to be. repudiated with wide
spread ruination. The capitalization
Of peace it is said, would place at the
disposal Of enemy countries an inter
nationally guaranteed credit out OF
which the allies could recoup them
selves before it or any part were used
by the enemy for the reduction of
his own war debt. The punishment
OF the enemy, it is argued, would
come in the form of a burden of
taxation, while the allies would be
entirely relieved from their burden.
Under this system the funds derived
from each nation each year. funds
representative Of moneys that would
have been spent for armaments with
out a guaranteed peace, would ac-
cumulate and as it increased 1t would
permit the withdrawal Of interna-
tiona1 currency consistently until the
whole war debt had been liquidated.
Look Here for Savior.
And there are still other plans the
unfolding Of which would take hours.
But invariably they would bring the
United States into bold relief as the
financial savior of the world and pos
sibly bring about state of things
that would impose extreme hardships
upon American people as a whole
That these plans are meeting resist
ance from various American members
Of the finance commission goes with
out saying.
Not even the most optimistic in
Paris are at this moment willing to
venture guess as to how the COM
plex international financial situation
win be solved. It is being approach
ed with misgivfng on the part Of all
nations. But the problem must be
met. and that it will be during the
final sessions Of the peace conference
or early in the life Of the league of
nations goes without saying.