Norwich bulletin., 1920-03-10

.,ondcr March e-(By The A. Po-I The srpreme council has issued roerorfndurn on world economic con difinns Its conclusions are as fol-s lows: ,-. 4 Firsfiy-It is of paramount import aace that peace conditions snouio ne fully and completely restored at the earliest possible moment throughout inc world.
 no achieve this object it is desira- 3,ie.s ffrsp that peace and normal economic relations should be re-estap- 1ished at the earlies' moment possl- be throughout eastern Europe; tsec- ordA that armies eveTywhere should he reduced to a peace footing. that arfnaments should he limited to The lo~~st possible fiagure compatible usi.-- roational security and that the League rf Nations should he invited 10 -cor s;der as soon as possible pro7 nossis 'o this end: Cthird) that states whieh have heen credited or enlarged as a result of the war should imme- di4tciv re-esfn hiishi full and friendly co-opcrafieu and arrange for unre- sfricfcd inte-rhance Of commodities. f- order that the essential unity of Frrouean economic life may not be irnnaired hv the erection or artificial economic harriers
 Resurnetion of Peaceful Industry.
 secoudiv-Not only the government of each country hut all those engaged tr fhr task bf production in every land should riv cimmcdiaie attention 70 the execution Of all measures which Will cnutrihutrfto the full resumption Of pcaccfui industry. to their encourage mrnf Of better output on the part Of thc workers in every country. to the Improvement of machinery and means
 sf.. ,sr1T ,f such distruhinE factors as prohteer- inr- Th.rSlv-Each government should f-umed!atelv consider means for urg- inr uncn its nationals in every rank Of life the vital necessity of sup pressing cxtravaEsnce and reducing ~yaen6iture.: s0 as to bridge tbe gap which mus for some years exist be- fvrrn the demand ard the supply of cssenfiai commodities.
 RsHstion Of Credit and Currency.
 Feurthlv-It ie essential that early sfsrf hc taken Co secure the deaation of credit. and currency--tf -tfrsD by the r-duction or rccurrcnt government ex- prrdiiurc within the limits Of the rev rruc. tSecoud.vl by ihe=imp position ef such additional taxation az is neces- srrp to secure this result5 (third)t hy thr funding of Ehort-term obligations l.y means of loans subscribed and gradual curtailment Of note circula- lion.
 Fifhiv-Pro@isions for raw mate r.ais being essential to the restora- tion Of industry. means should he fcund whereby the countries which. are in the present conditions of in tr-naf5ouai exchange, unable 10 Dur- chase .p the world markets and so, orc unable to re-start their economic ife car obtain couinnercial credits It pill b. possiblve he achiecp this when the countries have made tho reforms indicated in the foregoing paragraphs.
 ce-eperation 6ewcsn the Allies.
 sixthly-Thc powers represented at the conference recognize the necessity for continued co-opersti0n between The allies ad for removing obstacles to tho -eass interchanEes of essential commodities. They will continue to consult together regarding the pro- vision and distEibutiOn of necessary materials and foodstuns with a view ta Inc carly restoration of normal conditions.
 Restoration of Northern France.
 seventhly-The powers represents at the conference have given care ful attention to the special case o Inc devastated regions. and more par. flEh.nrlf 10 northern trance Int restoration of these areas is of prim- ary importance for the establishment cf the economic equilibrium of Europ, and the resumption of ormal irad' conditlons. + Is evident that the larg eums required for this purpose can not De provided out of the curren revenue. nor can the work of restor afion be postponed suntil the repara ton due from Germany. under th treaty of peace has been received. Tn council recognize that the capita sums required for his restoration ma properly be raised by market loans. anticipation of the reparation pay mtnts provided for by the treaty an thai the restrictions which they desir fo ree placed on new borrowing do nc abply to loans and credits raised fc the purpose of meeting, this abnorm; capital expenditure
 EiEhthly-The powers represented { fh- conference have taken under cor Siderstipn article 235 and cognate al ficies of the treaty of Versailles an passages in the letter addressed Jur IS 1919. by the supreme council 1 the peace delegates which contemplai that Germany shall make proposa for fixing the total of the payments be made by way Of reparation ar that facilities may be given her to ol
 
 feriais in advance tof the paymen being made by way of reparation.
 The powers are agreed that it desirable in the interest alike of Ge many and her creditors that the tot to be paid by her for reparation shou he fixed at an early date. They oi serve that under the protocol of Il treaty a period of four months fro the signature of the treaty was pr' vided during which Germany shou have the right 10 make proposals the kind referred to. and they a agreed that in the circumstances Inc yexist today such period shou be extended.
 Loan For Germany.
 Concerning Germany, the mem randum says
 .1t is most desirable in the inte psts Of the allied countries. no le ihan or Germany. that at the earlie possible moment the total of repa rnents to be made by Germany und the treaty of Versailles should be fl cd and that it accordance with | terms Of the treaty and the reply he powers to the German delegate dated June 1s. 1919. she should be ei abled fo obtain essential foodstufl and raw materials and. if necessary