Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1920-03-10
LIMIT ARMAMENTS.
REDUCE ARMIES
Cut Down Expenditures, Resume
Trade, Avoid Strikes and Wipe
Out Prohteering.
DEFLATE MONEY AND CREDIT
Germany to Be Allowed to Float
Foreign Loans to Make Rep
aration to Allies.
[By AssocIated Pre.s.l

tFy Associated Press1 ts+N
LONDON. March 9.-The supreme
council has issued a memorandume on
economic conditions calling for wnrlI.
Woe read1ustment. Its conclusions are
First 1t is of paramount imno-t,n,.
that peace conditions should be fniIv
and completely restored at the earlieat
possioie moment throughout the world.
| Restore Normal Relations.
,bat bao achieve this object it is desirable
lations should be established at the
esaraies. sa., moment possible throughout
where should be reduced to a peace
,1tnoting: that armaments should Be
limited 1T, to the lowest possible figure
ina. the league OF nations should be
invited to consider as soon as possible
proposals to this end; that states which
nave been created or enlarged as
| result OF the war should immediately
re- establish full and friendly co-opera-
, .iom ana arrange for unrestricted inter-
| chahse or commodities In order that
| me essential unity of European eco-
| nomic life may not be impaired by
| riers. - !,
Second. Not onlySthe government OF
each country. but all those engaged
IN the task Of production in every land
execution OF all measures which wifi
contribute to the full resumption OF
peacelul industry, to the encourage
ment of a better output on the part
Of the workers in every country, to
.he improvement Of machinery and
means means OF transportation and:lthe re-
proIlt yTt ee ri . slieh sdstnrpip
Third, Eachs goysrnment an ould In
,inon its nationals IN @ every W RANK s l df
life the vital necessity of siippr essing
extravaganza and reducing expsndi-
lure; so ns to bridge the. gap which
must for some years exist between the
commodities. s -'5S7l 80
Float PeopIe'a Loans.
Fourth. 1t is essential that early
steps be taken to secure the defiation
OF credit and currency (frst), blythe
reduction OF recurrent government ex-
cnue: tsecond), iby the imposition OF
such additional taxation as is neces-
sary to Secure this result; 7tthird). by
the funding. of short-term obligations
by means of loans subscribed out of
the peoples savings; and (fourth), by
the immediate Limitation and gradual
rtailment of note circulation.
Fifth. Provisions for raw ma
terials being. essential to the restora-
tinn OF industry. means should be found
the present conditions of, International
| exchange. unable to purchase in ths
world markets, and. so. are unable to
restart their economic life. can obtain.
| commercial credits. 1t will be possible
TO achieve this when the countries
| foregoing paragraphs.
sixth The powers represented at
the conference recognize the necessity
for continued cooperation between the
allies and for removing obstacles to
the easy interchange of essential COM
modities. They will continue to con-
and distribution of necessary raw ma
terials and foodstuffs with view to
the early restoration OF normal con.
ditions.
Reparation for France.
Seventh. The powers represented at
the conference have given careful at
vastated regions and more particularly
to Northern France, The restoration
ance for the establishment Of the econ
| omic equilibrium of Europe and the re.
SUMPTION Of normal trade conditions
REQUIRED for this purpose cannot be
provided out Of the current revenue
n"T can the work Of pc
from Germany under the treaty OF,
peace has been received. The coun-
erly be raised by market loans In an;
ticipatio of the reparation payments
| estrictions which they desire to see.
placed on new borrowing do not amply
to loans and credits raised for the pur-
pose or meeting this abnormal capitals,
expenditure. sc
Concerning Germany. the memoran.s,
NUtil StSS. H. - = ~ F, 5. -
Foreign Loan for Germany.
at Is most desirable in the interesta
OF the allied countries no less than OF
Germany that at the earliest possible
moment the total OF repayments to be
made ny Germany under the treaty Of
Versailles should be fixed and that in
accordance with tile terms OF the treaty
German delegates. dated June s. 1919,
she should be enabled to obtain es.
scntial foodstuffs and raw materals,s Z
and II necessary In the opinion of .he
lowed to raise abroad a loan to meet
her immediate needs of such amount.
and with such priority as the repara-g
tions commission may deem essential
ana that. owing to circumstances. tho.
neriod OF repayment should be ex-
tended So q y
"tn the case OF Austria the powers.
recognize that even more active as4s
sistance may be required to be given;,,,e
The. memorandum also makes the fol T.
lowing interesting obseryations: .Iias I5s'
must necessarily be long and cannot
be expedited by short cuts OF any
dissertation; It ean.he most seriously !
duction. by strikes, lockouts 4 a nd lin.
terruptions OF work OF alIS kinds ~ ~
CniI TO Europe. Chiidren.
Civilization Of Europe has indeed been.
being irretrievably ruined. by the tre-
mendous struggle through which she
has passed The restoration OF her VIZ
tally now e, dspe,nds on the ,whois77ss
drcn, who have y In their own power
to delay or accelerate the process u
ss aHes fsssy
and employment MAY DO measured sto 6
workers. Taking the allied countrtos