Evening star., 1920-03-14
THE STORY THE WEEK HAS TOLD

oyertures toward Poland, the soviet govern
ment apparently proposes to create, through sa
in the hearts of their neighbors. The Poles.
asserting that they will never make peAce
resstnx H the having been
repulsed in his first attack with heavy losses.
voiyes t' the return of 5000. .ooo. 900 francs
under guard in Moscow. to the Humanian
treasury. other provisions OF the peace r;e1 omet
republic the payment of certain damages TO
Russia and the, recognition Of r., Rumanias aaaia
claim to Bessarabia. 1t is generally anticl-
pated that peace will result from the coming
negotiations.
in. England that the Irish home rule bill will
pass the house of commons in the near future.
viii be accepted in the south of Ireland AS
quth is known to be seeking to Kill the Dill
at present drawn.
On Monday the Supreme Court of the United
States declared by a to decision that tax
ing of stock dividends under the income tax
section of the 1916 revenue law is unconsti-
tutional. 1t has been estimated that the gov
ernment will lose between $1Oo,OOo'ooo ana
s5oo.ooo. 900 by the decision. including refunds
has been made that the falling off in revenue
may force Congress to adopt new source
of taxation to meet the expenses of the next
fiscal year.
Secretary Houston Of the Treasury has an
nounced that no further loans will be made
to the allies and that further bond issues in
this country will be opposed by the depart
ment. A total of $9,659.s34.649 has been loaned
to the allied nations of the $4,000 100000 au-
thorized by Congress for the purpose OF credit.
Treasury officials say that in view of the ex-
change situation and the unsettled economic
conditions of European nations it would seem
~
the United States to postpone interest pay
ment on the debts for at least three years.
Interest upon interest due as result Of the
amount amour to but $4,000 900 a year. and this, it
is believed. be readily met during the
period of reconstruction
Americas chief debtors are Great Britain,
with $427700O.0 900; France. with $3.047.97477
nd sy h sna ass
$1S7.729.750. Rumania. Serbia. Greece. Cuba.
czechoslovakia and Liberia are the other
mittee of the House. Secretary Houston upon
soldiers bonuses through bond issues Taxa
tion is urged instead of bond issue. which
per cent and would force down the market
value of outstanding government issues.
ousy is seeRns n a to satisfy
the popular demand that the soldiers Of the
world be "a ace9ded Of financial
Of raising the vast sum which would be
needed without aggravating the already seri-
Gus economic condition Of the nation.
X ** X
The supreme council has issued its antici-
pated memorandum world economic condi-
tions. It's conclusion may be, summarized as
follows: Peaceful conditions must be fully
restored at the earliest possible moment
throughout the world. Peaceful industry must
be fully resumed better output being en-
couraged and all disturbing features being re-
moved. The gap which for some years must
exist between the demand for and the supply
of essential commodities must be brdged by
a rigid suppression of extravaganza. The de-
fation Of credit and currency must be accom-
plished and commercial credits granted nations
to whom raw materials are essential. Those
regions devastated by the war must be re-
stored. A total Of the payments to be made
by Germany by way Of war reparation should
probably be fixed and the facilities given her
to obtain necessary foodstufs and raw mate
rails at an early date.
Interesting statistics given at the close
Of the memorandum which show that the in
creased cost of living in the United States is
considerable lower than in any other country
with which we were associated in the recent
war The worlds total war debt il estimated
at $4,000. 100000.