The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1922-04-26
Strong Will.
Represent US.
European Reconstruction 10
Be Taken Up at London
Meeting Under Bank Of
England Auspices.
By DAVID LAWRENCE
lCopy-iSnt by The lntc!MGcncer

WASHINGTON, Apru IS. - Financ al
phase. L: world reconstruction are oc-
rsicp.nS wh,ch may hr:0S IN" Lnit"d
S:a;,s .ntu aStiv" cooperation with the
economic fu-c"s Of Europe.
Although the or.Aal imitation to tho
fedora rcs,rvc board to participate n
a conference OF banHIus institutions 10
be called hy he EAan Of tnslanu has
not yet reached here, the fact ot Is
ccrr!r- :, confirmed. The acccr;1aCe
vii! naturally be discussed By SECRETARY
OF the Treasury Actlon with Secretary
OF State Hughes 10 dctGrmlu" wh'tn"r
the foreign policy OF the soverr:ucut n
hero would permit American representa-
ton InASrnuch as tho conference mere
~ wn discuss plans and wIl not oe
binding ppon the representa- tives With
out tho cnnsant OF their home govern
mena. httle doubt ts expressed that the
American federal reserve system will
send . representative Very little IS
know OF the Bank or Ensland's plans
for the con ference and II may be that
tho obtectlVeS sought cannot be given
American support For this reason II
Is expected that an outline OF what q
sought TO be accomplished win be sub
nitted N advance so that President
Harding and 8 retary Hughes may
hnov tho scopt of the oonferencA
Strong 20 Rspresent o. 3
President Harding .et It DO known DO
day that the invitation would be ac-
cepted He announced that Bencam min
Strong. governor OF tho Federal rc-
serve bank OF New York Ctry. would be
sent abroad TO represent the Federal
reserve system Tho President believes
the conference can do useful things and
that America may Be- able to be OF con-
siderable help Air. Harding explained
also tina, the United States government
had no objection TO Mr.. MorSans attend
ance At the meeting OF bankers Summon
ed by the reperations commission.
Tho Bank OF England last year pro
,scted q plan for the financing OF cen
ra Europe by means OF a loan 10 Aua-
trla. II eslns considered advise BILE 10 uSe
v:ernA's banking machinery as a means
oH reaching ths smaller countries vhcn
have srowp out cf the former Austro-
HunSariAn empire The schsroe raneo
neoAasA she r<par4ficnc commission de-
clinSd 70 gtvs a priority on Indemnity
pAyrrants TO central Europe, Austrian
exchange was disastfously affected oy
the incident
So far as known the now plan IS tc
stabilize exchange Il Ls not thought
that ,he various paper currencIes o'
Europe can be oroush, back TO ioe''
normal value by any artificial measures
but - - nevPrthekrs confidently be
uevrd that something can oF done =
stabilize and thus prevent marked nu'
suauons especially with the c"rtalot'
OF bsc International loan which VII
eaAe care Of the oolSat>cnS OF Ger MANI
Morxan's Acceptance
InaHnuch a. the govern nents them
s.lvcs will be parties 20 the mfk'nS 81
.he big loan. they must consider the CT
feet on exchange and act accordingly
The Bank OF Engia nd and the banks "'
other countries engaged N the aIueo
side 70 the war acted together 10 proven
e,changs fluctuations during the val
and some thing of the same sort Is *
per.ed uow that an approach Is oclns
made 10 the financing OF the greatest re-
construction era in world history the
announcement by J. ?. Morgan mat rs
Mas accepted the invitation Of the rep
srat,ops commission to discuss ta'
chances OF selling IN America an into'
ra,ionsl loan 10 Germany - only o7'
NJ a number OF coin"Ideut steps whics
a-e gradually helrS take, with vie"
~ full Cooas -atIo7 by 'hs allies anc
>o-rner focs Mr.. Morgan Cn'rmunlcAttc
9Th the department, Of state where n
oA,sction was rrte-rnssd 70 hts ac'cp'
,ncA ~ the invitation extended nm cN
+bs renaratlors commission. Later or
rrdouhtedlv tho Tinted states govern
want will have ar official representative -
-. .bs commission Mr.. MORGAN goes "
~ unofficial ,arac'ty representing MI
A., prtvate 'rtc-cStS but MS WORD an
+rrd grnent will count fnr a S"Hn dea' y
,,rs,r, cnrr~,is Tf = Morgan %
p.rs4 a G.ruto lcan can b. roa''f
n-ov4dsd :. > guaranteed nr endorse
~ several of 10 ailed ARD aSs"':A'''
,oue,s ,Nc farrna.!pu Of A. American
na,Lt,v r-our rrohably VII 3" "nr"u'
.-o5 and nc moral Support nC the Ial'
a e,,,es rov. "rn"r, viii then Rave u
~, Az r,l'ic-S s'aHd now. tn" gov
--,e,, h.-r h:t.; ~, l"SHi riCh' - "h."T
-. ,bc Nc,s,'ion Or foreign loans .;
A,,,-ir, bu, tho pirate hank"rS nav
.g-eo5 10 Obtain IN" department &"
go, ,~c,irnsccr~o before """m''t'n'
.,..,,ssfy..,, 20 tic sale of !"r';sn govern
ncnt bonds