Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1920-03-10
Full Restoration
fcontinued from Pase ons)

Secondly--Not only the govern
ment Of each country bd. all those
engaged in the task OF production III
every land should give immeoIate
attention to the execution OK All
measures which will contribute 10
the full resumption OF peace fully 10
the encouragement of better OUT
put on the part Of the workers IN
every country to the improvement OK
machinery and means OF sransporta-
ton and the removal Of such disturb
ing factors as PROTECTING.
Thirdly-Each government should
Immediately consider means for ure-
ing upon its nationales in every rank
Of life the necessity Of suppressins
extravaganza and reducing expendl-
ture, SO as to bring the gap which
must for some years exist between
the demand for and the supply OF es-
sential commodities.
Fourthly-It is essentia. that early
steps be taken to secure the dedation
Of credit and currency-(frst) by the
reduction Of recurrent government
expenditure within the limits OF the
revenue; (second) by the imposition
of such additional taxation as Is
necessary to secure this result;
(third) by the funding Of short term
obligations by means Of loans sub
scribed out Of the peoples savings;
(fourth) by the immediate limitA-
ton and graduated element Of note
circulation.
Fifthly-Provisions for raw mate
rails being essential to tie restora-
ton Of industry means should De
found where by the countries which
are, in the present condition OF inter-
national exchange, unable to pur-
chase in the world markets, and, so,
are unable to re-start their economic
life, can obtain commercial credits.
It will be possible to achieve this
when the countries have made the
reforms indicated in the foregoing
paragraphs.
Sixthly-The powers represented
at the conference recognize the ne
cessity for continued corporation
between the allies and for removing
obstacles to the easy interchange OF
essential commodities. They will
continue to consult together regard
ing the provision and elaboration OF
necessary raw materials and food
stuffs was to the carly restoration OF
normal conditions.
Sevonthly-The powers represented az
the conference have given careful attea'
lion to the special case Of the deVastat-
ed regions and more particularly o.
northern France. The restoration OF
these areas is Of primary importance
for the establishment Of the economic
equilibrium Of Europe and the resump-
ton of normal trade conditions. 1t -
evident that the large sums require.
for this purpose cannot be provided GU,
Of the current revenue nor can the
work of restoration be proposed until
the PREPARATION due from Germany I'M
der the treaty Of peace has been re-
ceived. The council recognizes that the
capital sums required for this restora'
ton may properly be raised BY marke.
loans in anticipation Of the repSration
payments provided for by the treaty and
that the restrictions which they desire
to see placed on new borrowing do not
80
the purpose Of meeting this abnormal
capital expenditure.
Ei9hthly-The powers represented at
the conference have taken under con-
sideration article 25 and cognate article
Of the~treaty Of Versailles and passages
in the letter address June Is, 1919, b.
the supreme council to the peace dele
gates. which contemplates that Ger
many shall make proposals for fixing
the total Of the payments to be made
by her by way Of reparation and that
facilities may be given her to obtain
necessary foodstuffs and raw materials
in advance Of the payments being made
by way Of reparation.
The powers are agreed that 1t is de-
sirable in the interest alike OF Germany
and her creditors that the total to be
paid by her for reparation should be
fixed at an early date. They observe
that under the protocol Of the treaty a
period Of four months from the sigma
ture Of the treaty was provided during
which Germany should have the right to
make proposal Of the kind referred to,
and they are agreed that In the circum-
stanceasuch period should be extended.
Concerning Germany the nemoran-
dunn says:
ut 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
ments to be made by Germany under
the treaty Of Versailles should be
fixed and that the terms of the treaty
and the reply Of the powers to the
German delegates, dated June 16.
1919 she had been unable to obtain
essential foodstuffs and raw materi-
ais and. il necessary in the opinion Of
the eeparations commission should
be allowed to raise abroad a loan to
meet her immediate needs Of such
amount and with such priority as
the reparations commission may
deem essential.
In the case Of Austria the powers
recognize that even more active as
sistance may be required to be
given"
The memorandum makes the fol-
lowing general observations:
THE process Of recovery Europe
must necessarily be slow one which
cannot be expedited by short cuts Of
any description. It can be hampered
by the dislocation Of productions by
strikes. lockouts and interruption Of
work of all kinds.
THE civilization Of Europe has in
deed been shaken and set back. but
it is far from being irretrievabiy
ruined by the tremenduos struggle
through which she has passed. The