The Birmingham age-herald., 1920-05-05
Daily Wall Street Gossip
BY HOLLAND.

New York. May 4.-t Special. )-There came this morning information which was brought to New York by some
 men of experience in financial af- fairs who have spent a week in Wash ington. They report that Senator which turks In the proposition that ihe debts of all nations engaged in the war should be rooled and then approximately hanoied.
 The movement which had for its purpose the bringing of the United Gtates into a financial league of na- lions, so to speak. so that the great
 resources of this country could be utilized in such manner as to aid in the permanent funding of the great war debt began al least two years ago. It was first voiced by George W. Mickenham, who was formerly Att torney General of the United States, and who after the war began spent some months in Europe in a semi sfficial capacity.
 ] MT. Wickersham ventured to suggest that the United States Write off the obligations incurred by England,
 France and other nations which are now represented by demand notes teld
 in the treasury. The aggregate of
 these notes is about s10,000. 900 GOO. MT Wickersham wss persuaded to make suggestion of this kind because at the time of his visit to Europe he was convinced that unless the United States gave in full measure financial assistance to the other na- tions then there would be inevitable Bankruptcy possibly pollowed by chaos or anarchy. It seemed to him that 1t might be aside from the moral in- fluence which such action might exert, also of ultimate frightened benefit, since the more speedily Europe found her burdens frightened. then the more speedily would be in position to take advantage of the opportunities for trade and commerce which would be open to us.
 Mir. Wickershams suggestion was not well received. In the financial district it was spoken of as an ad- micable illustration of practical all trusm. For it would be impossible so the ablest financiers said. for the United States governne ent to write off this debt without cccasioning very great financial disturbance in this country. seriously and perhaps for a
 long time affecting the money mar ket and certain to impair the market for securities or the ability of those who are engaged in industry or com Tnerce, and especially transporta .,on to secure fresh canal.
 VANDERLIP'S POINT OF VIEW
 When Frank A. Vanderlip returned from his soiourn in Europe, he was so thoroughly impressed with the ne- cessity which he felt was upon the United States for aiding Europe to the limit of our capacity. that he, seemed to intimate that he. too. would be disposed to favor Mir. Wickersham' s proposition that Congress authorize the treasury department to write off the debt of s1o0o0 100000. which Flu rope and Great Britain owed the United States.
 Shortly after Mir Vanderlip inti-, mated that the United States should go the limit of its resources in aid ing Europe some of the international bankers began to receive hints that it was in contemplation by some of the French statesmen to attempt to per suade the United States to join with all other nations which were en- gagged iN tSe war with Germany and Austria in bringing the colossal war dahf int roo1 from which