New-York tribune., 1920-03-10
Early Return to Pre-War
Conditions Is Declared
Essential to Lift Bur-
dens Nations Endure
Cut i'm Arnaments
At Once Advocated
Dehatjon of Credit With
Trade Resumption and
More Production Asked

LONDON, March (By The Asso-
ciated Press) The Supreme Council
has issued a memorandum on world
economic conditions. Its conclusions
are as follows:
Firstly-It is of paramount Importance
that peace conditions should be fully
and completely restored at the earliest
possible moment throughout the world
To achieve this object it is desirable
first, that peace and normal economic
relations should be reestablished at
the earliest moment possible through
out Eastern Europe; second, that
armies everywhere should be reduced
to peace footing, that armaments
should be limited to the lowest pos
sible figure compatible with national
should be invited to consider as soon
as possible proposals TO this end;
third, that states which have been
created or enlarged as result Of the
war should Immediately reestablish full
and friendly cooperation and arrange
for unrestricted interchange Of COM
modities, in order that the essential
unity of European economic life may
not be impaired by the erection OF
artificial economic barriers.
Increased Production Urged
Secondly---Not only the government of
each country, but all those engaged in
the task of production in every land
should give immediate attention to the
execution Of all measures which will
contribute to the full resumption of
peaceful industry, to the encourage
ment of better output on the part of
the workers in every country, to the
Improvement of machinery and means
of transportation and the removal OF
such disturbing factors as profiteering
mediately consider means for urging
upon its nationals in every rank Of
life the vital necessity of suppressing
extravaganza and reducing expenditure
so as to bridge the gap which must
for some years exist between the de-
mand for and the supply of essential
commodities.
Early Dehation Desirable
Fourthly-It is essential that early
steps be taken to secure the def1ation
of credit and currency; (frst) by the
reduction of rccurrent government ex-
penditure within the limits Of the rev.
enue; (second) by the imposition of
such additional taxation as is neces-
sary to secure this result; (third) by
the funding of short-term obligations
by means of loans subscribed out of
the peoples savings; (fourth) by the
immediate limitation and gradual cur
tailment of note circulation.
Fifthly-Provisions for raw materials
being essential to the restoration of
industry, means should be found
whereby the countries which are, in
the present conditions of international
exchange. unable to purchase in the
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
have made the reforms indicated in the
foregoing paragraphs.
Sixth-the powers represented at
the conference recognize the necessity
for continued cooperation among the
Allies for removing obstacles to the
easy interchange of essential commodi-
ties. They will continue to consult to-
gether regarding the provision and dis
tribution of necessary raw materials
and foodstuffs with view to the early
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