El Paso herald. (El Paso, Tex.) 1901-1931, 1920-03-10
COUNCIL TELLS
WORLD s NEEDS

London, Eng. March 10-(By the As
ISOLATED Press The supreme council
has issued a memorandum on world
economic conditions It's conclusions
include;
Firstly-It is of paramount impor-
lance that peace conditions should
be fully and completely restored at
the earliest possible moment through
out the world
To achieve this object, 1t is desir-
able (firsD that peace and normal
economic relations should be reestab-
Gshed at the earliest moment possible
throughout eastern Europe; (secondl
that armies everywhere should be
limited 10 the lowest possible figure
compatible with national security. and
that the league OF nations should be
invited 70 consider as soon as posi-
bic proposals 20 this end. (third) that
states which have been created or en-
larged as q result Of the war should
Immediately reestablish full and
ment for unrestricted interchange Of
commodities. in order that the essen
tial unity Of European economic life
may not be impaired by the erection
Of artificial economic barriers
should Resume Industry.
Secondly-Not only the govern
ment Of each country. but al those
engaged in the task Of production in
every land should give immediate at
tentiOn 10 the execution Of all meas
ures which will contribute to the full
resumption of peaceful industry, to
the encourage OF a better output
on the part OF the workers in every
country. TO the Improvement OF ma
chinery and means Of transportation
and the removal Of such disturbing
factors as profiteering-
Thirdly-Each government should
Immediately consider means for urg-
ing upon its nationals in every rank
of life the vital necessity OF suppress
ing extrava gancs and reducing ex-
penditures, so as 70 bridge the gap
which must for some years exist be
tween the demand for and the supply
Of essential commodities
Fourthly-It is essential that early
steps be taken to secure the della
ton Of credit and currency-(first)
by the reduction OF recurrent gov
eminent expenditures within the
limits Of the revenue; (second) BY
the imposition Of such additional tax
alton as is necessary TO secure this
result. (third) by the funding Of
loans subscribed out Of the people
savings: tfourthl by the immediate
limitation and gradual curtailment
OF note circulation
Provisions For Raw Materials.
Fifthly-Provisions for raw ma
terials being essential to the restora-
ton Of industry, means should be
found whereby the countries which
are, in the present conditions OF in
ternational exchange, unable to pur-
chase in the world markets and So
are unable TO restart their economic
life. can obtain commercial credits
Concerning Germany, the memo
raudum says:
IT is most desirable in the inter
ests Of the allied countries no less
than OF Germany that at The earliest
possible moment the total OF repay
meuts 10 be made by Germany under
the treaty OF Versailles should be
fixed and that in accordance with the
terms Of the treaty and the reply OF
the powers 10 the German delegates.
dated June Is. 1913. she should be en-
sbled 10 obtain essential foodstu1fs
and raw materials and. II necessary,
in the opinion OF the reparations
commission. should be allowed 10
raise a loan 10 meet her immeclaf e
needs OF such amount and with such
priority as the reparations commls-
sion may deem essential