The Bridgeport times and evening farmer., 1920-05-04
RATHBONE TO BE
 U. 5. DELEGATE
United States to Be Repre- sented at Brussels
 Financial Conference.


 ment that it will be represented at the Brussels Allied Financial confer .ence to be held this month. The per sonne1 of the American delegation has not been determined, but 1t is known that Albert Rathbone, assistant secretary of the treasury, who has for the past eight months been sta toned in Paris and London as the fiscal representative of the United States, will be one member and the others will be named from the high est officials of the Administration
 The decision to accept this invita- tion of the League of Nations was considered with great caution and was reached not without grave doubt as to the consequences involved in such a step. The final determination of the matter, however, was made with the condition that the American delegates were not to participate in the conference as principals but to keep within the line of advisory and observing members of the body.
 This check upon their activities was established mainly for the req son that as national policy it was recognized that the executive was without authority to commit the United States to any fiscal policy W4LhO0I dQlUOIlLdllOl 1IOIH AOuSISSS
 The conference will discuss many things of direct interest to the United States government and to the American people. It is therefore probably a wise thing to have official representation there primarily for purposes of full and accurate inform ation in view of the prolonged dead lock between Congress and the Exc cutive over the many questions aris- ing from the peace settlement at Yer sailles. It is a hope with many who are responsible in official life that there may be the fullest publicity in regard to what propositions are made at Brussels and what attitude toward them our delegates take.
 It goes without saying that one of the matters to be considered at the conference will be the definite or ganized arrangement of the plan for the deferm ent of interest on the debt of the Allies to the United States. This is now in the form of a .tenta- tive matter of negotiations. It is known that the Administration stands committed to it informally, but the details and the actual agree ment on the matter await further steps in negotiation. The plan is to postpone the payment of all interest Olt l41G "iT ueDIS Ol IuS Allies IO InlS Government for the period of three years expiring with April, 1922. At that time current interest obligations are expected to be assumed and an amortization plan adopted and en- tered upon that will extinguish the accumulated amount of deferred in- terest
 In this connection there has taken place remarkable step in authoriZl- tion on part of a majority of the Ways and Means committee. This is no more or less than the decision that the secretary of the treasury possess es under the terms of the various acts of Congress constructively, the power to so forward and commit the Gov ernment to whatever plan or policy may be deemed necessary or un- avoidable in dealing with the defer ment of the interest on the advances to the Allied governments for the prosecution of the law. Just why the committee should take such a step o1 on what grounds their reasoning pro- ceedcd in construing the war finance acts is not disclosed. The actior taken was in executive sessions.
 It is also a matter of wondermen why the committee should not have frankly taken the problem into the House and brought to the Admin istration and to the public the ad vantage of full publicity and in. formation of all steps in the matter In the last analysis the subject 1T which the tax-paying American pub lie is deeply interested and a debate in the House and in the Senate oI the whole matter with a distinc statement in a joint resolution O what should be done would havt made the duties of the American delegation to Brussels much easiel and more distinct than it is nov likely to be.
 It is understood that in its opinion that the Government may make sucl disposition of the interest defern en as it decides is expedient and neces sary, the Ways and Means committe itself washes it's hands of all respon Sibility in the matter and leaves tn Administration to accept for it's ow1 advantage of discomfiture whateve consequences may follow either in tn failure of the adjustment that is mad or the resentment of American pubIS opinion if the scheme goes wrong.
 The action taken by the Ways an Means committee does not represen the ripe judgment of the stronge man of that body. Chairman Ford ney opposed the conclusion that tn Administration might postpone pay ment of the Allied interest, and trie in vain to bring his colleagues | come to his views that only the flu authorization cf Congress woul squarety meet the requirements c the situation. Mr Kitchin, the rank ing minority member, also struggle against the majority of the commit tee in practically the same positio as that taken by MT. F'ordney. Ther was. however, enough who Ihougt differently to carry the proposition and if the Administration desires
 may now go on and commit the Gov ernment fully to what has been fo many weeks indicated was to be dom
 Indeed, it is understood that Pres ident Wilson during the Versatile conference essentially committe this Government as far as he coul do so on the whole matter. At an rate there has been ever since
 strong expectation in Europe that tf defern1ent would be finally agreed and put into effect. For months tf details connected with this phase the situation have occupied the alter ton of Assistant Secretary Ratl
 bone and it is not beyond a que: that when the American delegatio