The Bridgeport times and evening farmer., 1921-10-11
U. 5. Must Take
 Part In Settlement Of Economic Problems

Only the free exchange of commodi- ties between the countries in constant ly increasing volume can bring nor
 mai life to the people and the condt- tions they knew before the war.
 ''The United States is regarded as the most powerful country in the wordl commercially and financially. Its reputation for integrity and fair dealing is well established. In every country your com Sntttee visited and in almost every coni in which 1t participated, irrespective of the occu- patton, official position or social status fOf the persons met, he opinion was ex- pressed that neither Western nor Gen. tral Europe can be restored to 8. con-
 dition which promises hope and pro- gress for the future without our ac- tive assistance.
 Possessing as it does great quanti-
 ties of raw material and manufactures
 which it wishes to exchange with other nations, the interest of the United States in accelerating a return to world prosperity is vital. 'SThe fact is not debatable that aft CT the part we have taken in the late war we cannot refrain from actively participating m the settlement of the economic and financial difficulties now confronting the world.
 Every country desires our friend ship and assistance and 1t is apparent we can participate in the restoration of commerce and industrial productiv- ity on any reasonable and consistent terms, either by modification of the Versailles treaty to meet the policies
 of the United States, or independently
 of it.
 Doubtless it was the realization of
 our moral as well as of our financial and commercial responsibility in re-
 lieving the worlds depressed condi- tion that caused the President to; call the proposed conference in Washing ton tc consider the reduction Of arm aments.
 Any student of world affairs can not escape the conclusion that each of the nations, including the United States, cannot continue to exPend so large part of its entire revenue, de- rived from taxation which is now al- most unbearable, in preparation for future war, if the present civilization is to continue. To peace and to the restoration of the worlds economic balance we must give our attention"
 The comrnitte treats at some length the showdown in the production and distribution of goods in European coUrtries.
 There are no dependable figures" says the committee. 'to measure the great decline in consumption, but European economists, whose opinions are highly regarded, declare that the consumption of more than 800, 900, 900 persons has been reduced on the av- craze to almost 80 per cent. of what it was previous to the war. There is great need of war materials, food,
 clothing and all kinds of manufac- ldi GU IIldleIldlS Vh1ll1OnS want the commidities which others could sup ply. They are unbale to buy because their money is so reduced in value
 tlat 1t has little buying power. Every exchange means payment at prices that are nearly prohibitive. This means the issue of more paper money
 and consequently causes a further contraction of the already limited buying power"
 The currencies of the countries af- fected, the committee asserts, cannot be very much improved or exchanges put on a proper basis with aid in the form of loans. But, says, the com mittee:
 'The credit and capital of the stronger nations cannot be employed in amounts sufficient to overcome the
 present crisis without assurance of settled conditions. In every country the committee finds unanimous agree ment that confidence does not exist | because peace is not established. It seems apparent that business in Eu- rope has come to a definite pause and | Is not likely to resume the movement | forward until the armed conflicts
 which still persist there are stopped, | and the menace of recurrig warfare | is removed"
 Among the bankers and business men visited, says the report the com mittee found the general belief that the establishment of peace and the restoration of confidence is impossible without the wholehearted co-opera- tion of all allied, neutral and former allied countries.
 The report devotes considera ble space to the subject of reparations It expresses the belief that many of the German people believe Germany must pay for the damage her armies did and that the government now in DOW CT and its supporters are conscient- 1ously trying to solve the problem and | meet the required payments. Inere IS, however" says the com = mittee, "an unfortunately large num- Der of representative industrial and
 ma nclal interests who refuse to re- gard the amount of payment arrived at as final. They insist on the inabil- lty of Germany to pay and campaign persistently against government lead
 CTS; They are supported by the mon archists and militarists If these groups should secure ascendancy, even temporarily. and should attempt to repud1ate or evade the separations payments it is inevitable Chat a crisis would develop which would be a fur ther menace to peace
 "The danger of such an occurrence requires that the United States and the Allies shall at all times present a solid front and thus carry conviction that escape from reasonable demands will not be permitted. Unless these nations thus act in concert France will
 be impelled, in self-defense to use military pressure, she has in the past
 The committee does not express an opinion as to whether Germany can pay the amount of indemnities fixed. It declares this mustd epend in large measure on the pFomptness with
 which the nomal business of the world is restored, Germany success in se- curing outside financia< assistance and
 her capacity to put her fiscal affairs in order. The committee has the opinion, 1t says, of some of the best of the German leaders that it can be paid and that every effort will he
 made to pay it if Germany is given a reasonable chance
 Since loans between the govern ments seem no longer feasible, financ- ing = in connection with reparation bonds and payments, the committee k&1NSRNIRSy|SN