Arizona republican., 1920-03-10
ALLIED COUNCIL GIVES VIEW FUR
 REBUILDING
Recommends Re-establish- ment of Worldwide Peace, Aid to War-Torn Nations, Maximum Indus trial and Agricultural Production as Best Means to Stabilize Conditions.
Republican A. p. Leased wirel

LONDON, March 9.-The supreme council has issued a memorandum on world economic conditions. It's con clusions are as follows:
 Ffrstly-It is Of paramount import ance that peace conditions should be fully and completely restored at the earliest possible moment throughout the world
 To achieve this object it is desirable (first) that peace and normal economic relations should be re-established at the earliest moment possible through out eastern Europe. (second) that arm ies everywhere should be limited to the lowest possible figure compatible with national security and that the league of nations should be invited to consider as soon as possible. proposals to this end: (third) that states which have been created or enlarged a result of the war should immediately re-estab- fish full and friendly cooperation and arrangement for unrestricted inter the essential unity of European econo- mic life may not be impaired by the erection of artificial economic barriers.
 Urge Greater Production
 'Secondly-Not only the govern ment of each country, but all those en- gagged in the task of production in every land should give immediate at tention to the execution of all measures which will contribute to the full re- sumption of peaceful industry, to the encouragement of a better output on the part of the workers in every coun- try. to the improvement of machinery, and means of transportation and the removal of such disturbing factors as profiteering.
 Thirdiy-Each government should immediately consider means for urging upon it's nationals in every rank of life the vital necessity of suppresSing ex- travagance and reducing expenditure so as to bridge the gap which must for some years exist between the demand for and the supply of essential com modities.
 Fourthly-It is essential that early steps be taken to secure the deflation of credit and currency-tfirst) by the reduction of recurrent government ex- penditure within the limits of the of such additional taxation as is nec- essary to secure this result; third) by the funding of short term obliga- uons by means of loans subscribed out tine immediate limitation and gradual curtailment of note circulation.
 Suggest Commercial Credits
 "Fifthly-ProvisionS for raw mater ials being essential to the restoration of industry. means should be found WlfcTtOy the CouHtrteS WHICH are, HI the present conditions of interna- tional exchange unable to purchase in the world markets, and, so. are unable to restart their economic life, can ob tain commercial credits. It will be possible to achieve this when the countries have made the reforms in- dicated in the foregoing paragraphs.
 "Sixthly-The powers represented at the conference recognize the necessity for continued cooperation between the allies and for. removing obstacles to the easy interchange of essential com modities. They will continue to con- suit together regarding the provision and distribution of necessary raw ma terials and foodstuffs with d view to 1 the early restoration of normal con- l ditions.
 .Seventhly-The powers represented | at the conference have given careful | attention to the special case of the de- | vastated regions and more particularly | of northern France. The restoration | of these areas is of primary import l ance for the establishment of the eco l homie equilibrium of Europe and the l tionS. It is evident that the large l sums required for this purpose cannot | be provided out of the current rev 1 enue, nor can the work of restoration | be postponed until the reparation due l from Germany under the treaty Of | that the capital sums re- 1uired for this restoration may. be | properly raised by market loans in | of the reparation pay nents provided for by the treaty and | hat the restrictions which they desire | 70 see placed on new borrowing do not , apply to loans and credits raised for | he purpose of meeting this abnormal | capital expenditure.
 "Eightly-The powers represented It the conference have taken under article 235 and cognate lrticleS of the treaty of Versailles
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