The Lake County times. [volume] (Hammond, Ind.) 1906-1933, 1921-12-14
TO CONSIDER
FINANCIAL
PROBLEMS
High Officials of Administra-
ton Want President
Harding to Act
BY GEORGE r. HOLMES

i~'rF sSHS&SFchozhT !. N. SERucE1
tcopyright. 1891. by L News servfcc)
WASHINGTON, Dec. IA world
conference to discuss economic and
financial r@adtustments win be called
within ninety days after the adjourn
mont OF ths present armament confer
ence, according to the beliefs private
~ expressed today by influential
european statesmen now in Washing-
ton. Their beliefs ara shared by
come high officials OF the Harding ad-
ministration.
WASHINGTON MAY GET IT.
Whather thu proposed conference
will be held IN Washington, in London
OF in Paris, remains TO be determined.
but the view is held that one OF the
three capitals win witness the ar
senbly of the worlds leading financial
and economic figures before March J.
Strong pressure is being brought to
bear upon President Harding s..ro
members Of his cabinet TO call the CON
ference In Washington. Foreign yisi-
tors now here have gone so far "a to
impress upon American officials that
the success of such a conference de-
pends largely upon Americas taking
the initiative
have refused 70 commit themselves.
They have listened attentively, even
sympatheticaily. to tho proposals that
have been made informally. but have
said little. President Harding in
formed at least two European states
men who approached him. chat he could
give the matter no serious consLdera-
tion until the presen. Washington
conference is ended
TOO MUCH OF A HURRY
To call another world conference
while the first is In the making was
rushing things too fast. the presidens
believed.
The end of the Washington confer
ence is now in sight. Unless all signs
fail. tho conference will be out OF
Washington, by New Years and IL will
then rest with the administration as TO
whether Europe's pleas are to be
needed.
European statesmen however. as
sert their belief that IL President
Harding does net take the initiative
Lloyd George willard with much iess
chances for success.
Regardless of who casas the confer
ence. American participation in 1t IS
egarded as virtually certain. BY the
time the present conference is era6asd
the administration hopes To- have the
foreign funding bill passed by cqn-
gress which will put into the execu-
tive's hands the power TO arrange set
tlsment of the s1L0oee 100000 which
Europe owes the United States
influential members OF the admins
tration are convinced that America
cannot escape participation They
rr,4a oil irf 80 he TaA
foreign indebtedness and the fact that
Americas foreign trade has shrunk 100
per cent since the war ended as twin
proofs that Americas interests are too
vital TO permit staying out
FOUR VITAL PROBLEMS.
According to the views Of European
visitors. SO expressed to members Of
the administration. the conference
would deal generally with four press
ing problems.
t1) German reparat.ons.
CD Foreign Indebtedness.
(3) Sterilization of exchange rates
% Tariffs.
The root Of the whole situation Is
in the first two problems. according to
Europe's spokesn1en. Once settle tlleec
two problems, get them on sta Bile
basis SO the governments concernea
can figure on the future with some de-
gree of certainty, they believe, and
the rest of the worlds economic ills
will be well on the road TO cure.
In this connection. ii has beer. eng-
gested informally here that payment
of German reparatfons and all foreign
loans be arbitrarily put on nve years
to afford to the governments concern
ed a breathing spell. The distinct
coldness with which Americas officials
have received SUGGESTIONS hooking to
cancellation of Indebtedness has ef-
fectually stopped hints OF this charao-
ter. Convinced that 1t Is useless to
propose cancellation, the Europeans
are suggesting the next best thing
postponement for FIVE years and long
time credits after that.
Some American officials are convipc-
ed there Is good deal OF merit IN the
suggestion, and that some such ar
rangesnent viii have to be made before
the world can get back to etaofe
economic basis.