Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1920-01-15
ORLD FINANCE
PLAN OFFERED
TO AID NATIONS
Eight Leading Countries Get
Behind Project to Revive
War-Stricken Lands.
AMERICA BACKS MOVE

NEW YORK Jan. 15.-Representatives
Of eight nations have addressed to their
!. governments identical memorials urging
kmmediate summoning of a conference of
e leading powers, including Germany
Austria, for the purpose Of restor-
war-swept countries and reviving
Irrational business.
q nations represented in this move
are the United States, Great Brit
France. Holland, Switzerland, Den
mark, Sweden and Norway.
In addition TO the two former enemy
powers, 1t is suggested that italy, Japan,
Belgium and the principal nations OF
Eouth America be Included in the pro-
posed conference
The memorial which was made public
last night, contains the following sug-
gestions:
''The major portions Of the funds for
restoring normal peace-time con ditions
must be- provided by countries where the
trade balances and exchange rates are
favorable.
DOES NOT FAVOR
4 TOP-SIDED CREDIT.
Long term foreign credit is only de-
sirable insofar as 1t is absolutely neces-
this reason and because Of the great de-
mands on capital for their own internal
purposes In the leading countries them
selves, the credit should be reduced to
the minimum absolutely necessary.
Assistance should, SO far as possible,
be given IN a form which leaves national
and international trade free from the re-
strict1ve control OF governments.
''InsofaM as it proves possible to issue
loans to the public in the lending coun-
tries, these loans must be on such terms
as will attract the real savings of the
individual; otherwise imitation would be
increased. Such loans should rank N
front Of all other indebtedness.
ECONOMIC LEADERS
SIGN MEMORIAL
The American memorial also was sent
to the reparation commission in Paris
and to the Chamber of Commerce Of
the United States. The American sign
ers were Edwin A Alderman, University
Of Virginia; Frank B. Anderson, San
Francisco; Julius II. Barnes, president Of
the United States Grain Corporation
Robert L. Brookings, st. Louis: Emory
N Clark, Detroit Cleveland H. Dodge,
New York; Charles w. Eliot, president
emeritus Of Harvard university Herbert
Fleishaker, San Francisco; James B. For
gan, Ou1CdRO5 Arthur L. aduIeyy pIeSl-
dent of Yale university; Richards S.
Halves, president of the American Bank
ers' association; A. Barton Hepburn, New
York; Myron T. Herrick, Cleveland;
Louis W. Hill, St Paul; Herbert Hoover
n. B. Judson. University of Chica go (;
Darwin P. Kingsley, New York; George
81. McFadden, Philadelphia; Alfred e.
MarIing, New York; A. W. Mellon, Pitts
burg; A. L. Mills, Portland, Ore; J. P.
Morgan, William F. Morgan, New York /;
F. H. Rawson, Chicago; Samuel Rea
president of the Pennsylvania railway;
George NJ. Reynolds, Chicago; R. G.
3Rhett, Charleston, S. c.; Elihu Root, Levi
p. Rue, Philadelphia; Charles H. Sabin,
New York; Jacob H. Schiff, New York;
sEdwin R. Seligman, Columbia univer-
\ Rty; John G. Shedd, Chicago; John Sher-
N IN, Cleveland; James A. Stillman, New
t EDrk; Henry SuZallo, University of
Washington; William Howard Taft, F.
IN. Taussig, Harvard university; Frank
Fanderlip New York; Festus J. Wade,
Louis; Paul NJ Warburg, New,
2ork; f. o. Watts, ST. Louis; Henry A.
wheeler, Chicago; Daniel Willard, presi-
dent Of the Baltimore & Ohio railway.