Evening star. [volume] (Washington, D.C.) 1854-1972, 1920-12-11
WAR INDUSTRIES
LEADERS ORGANIZE
Former Board Members
Form Association for Per-
petuation of Friendship.

Leaders of American industry, rep.
resenting every section of the scoun-
try. who composed the War industries
Board. today formed a permanent or
sanization and will meet annually
in Washington to perpetuate friend
ship made during the war
The organization is planned to
serve a purely social purpose. That
it will render a national service, how :
of industry whose informal discus
ever, in bringing together captains
of industry. whose informal discus
sions of Industrial matters should
lead to a broader vision Of the ma
tons needs, is conceded.
Former Chairman Presfdes.
Bernard NJ. Baruch. former chair
man of the war industries board, pre-
sided at the organization meeting
which was held at the Washington
nights get-together banquet, which
was attended by more than 100 former
members of the board.
Mr. Baruch was instructed to name
an executive committee of thirteen,
which will draw up plans for the
pc rmanent organization. The society
will meet in Washington about this
time next year.
Crux Of World Problem.
The crux of the worlds industrial
and commercial problem lies in the
exact PREPARATION Germany must make
to the allies. Bernard NJ. Baruch. for
mer chairman of the War Jtndustries
Board. declared in an address at the
Washington Hotel last night to the
men who served with him during the
war.
Germany, he said, declines TO re.
sumo business. because she does not
know at what point the vast indem-
mites will be fixed. She can rouse
herself from this comatose CONDITION
when the reparation is made dennis. a
In proceeding to work she will pro
duce the wealth with which to pay,
and in helping herself. she Will De
helping us all, he pointed out
Mr. Baruch thought the hNing OF
the reparation would be followed by
definite results. which he SUMMARIZE
hs follows: "a Gradual re-establlsh-
ment of German credit, 90 an lmnie-
diate rise in world exchange. t3o m
crease in the purchasing power OF the
nations, ca a worldwide resumption
of commerce.
Disposal Of Remainder.
'srhe balance of the German obli-
CATION" Mr.. Baruch proposed. should
be put in the form of bonds, the in.
tefC8I on anu 8Ta0udl aMoISaAaeioh W
which Germany could promptly pay.
thus establishing their value; tn. the
bonds could use them as the basis
Of credit for their much-needed pur-
ohases of raw materials and other
things in foreign lands. Thus, the
settlement of the PREPARATION question
would favorably affect the whole
world through the financial and COM
mercial channels that radfate from
the allied nations.
'Under the terms of the treaty.
the amount Of the reparations must
be determined before May. 1921; and
it should be established within Ger
many's reasonable capacity. to pay.
The United States should be repre-
scented in this determination. Ba-
ruch declared. mot only because of
the intimate relation to our own i'm
dustrial welfare and prosperity. but
because we owe it to our former as.
sociates to aid them In disposing OF
3 vexed matter. which, il not practi-
cally and sensibly resolved. will re-
turn to disturb them and Us again
and again" -