South Bend news-times. (South Bend, Ind.) 1913-1938, 1922-11-19
COMMISSION WILL
SUBMIT PLAN FOR
ECONOMIC FARLEY
Interstate Commerce Body Be-
lieves Conference Only
Hope for Europe.
BY LINCOLN QUARBERG.
q. y. Stan Corrcspondcnt-)
tCOpyright, 1922. BY the United
Pre- i

tCOpyright, 1922, BY the United
Press
CHICAGO. Nov. I8-The propo-
sal that a world economic congress
be called by tie United States. sug-
sested by Dr. Joseph wIrth. former
German chancellor. viii be present
ed in deta'l 20 congress by the inter-
national trade commission.
Clarence j. Owens. chairman, IN
an exclusive interview with the
United Press. today outlined the
plans for The conference as drawn
up by members OF the commission.
DR.. Wirth's suggestion for a
world conference. as reported in an
Interview with Karl A Bickel. gem
eral manager OF the United Press.
coincides with the views arrived at
BY our committee after a three
months survey OF economic. fnan-
cal and commercial conditions in
Europe Owens said.
An outline II the commissions re-
port. which viii be submitted 10 the
southern commercial congress which
meets here Monday. was presented
IN detail for the first time by Owens
fn his interview Ii includes the fol-
lowing Communications:
Many Recommendations.
An international conference Of
bankers and governmental repre-
sentatives 10 devise a scheme for a
moratorium i'm payment OF inter
allied debts and German repara-
lions. plus "a plan OF amortization
for the payment Of these obligations.
Am international tariff confer
ence for the comparison revision
of tariff schedules 10 remove bar
riers to foreign commerce.
Amendments Of laws Of the
United States to coordinate the
agencies OF the American govern
ment at home and abroad as they
relate TO the foreign service of the
country 10 avoid duplication and
economic loss of the present system.
"A conference Of diplomatic, con-
sular and other foreign representa-
tives OF the United States in Euro
pean countries t0 be held periodi-
calIy for adoption of plans of action
as to a pan-European policy.
5-Change of diplomatic policy
OF the United States 50 that foreign
representative might submit con-
structlve criticism on economic sub
jects without partisan bias or with
out fear Of reprimaRd-
Near Armed Conflict.
Europe is more nearly on the
verge OF armed conflict today than
at any time since Immediately ire
ceding the World war" owens
stated.
Conditions will grow worse un-
less some solution Of her economic
problems are reached soon.
THE fundamental problem is that
OF settlement Of war debt and rep
arations. The settlement must in
clude all nations who are parties
10 international obligations.
America as the creditor nation,
must see that it's Interests are pro
tecte6 in the contract Of settlement
and the world economic conference
IS the logical solution.
mo nation should have its debts
repud ated but should be given rea-
sonable time for payment. The for
mer allies must pay the United
states. Germany must pay repara-
ton obligations. but amendments TO
the treaty of Versailles must be
agreed upon giving Germany the op-
portunity of free comT etition eco
nomically with all other nations.
France and Germany must have
guarantees of freedom from moles-
fatioh and military attack.
Must Agree to Amortization.
The nations must agree 10 an
amortization scheme of settlement.
America should reduce the inter
est rate lower than four and
quarter percent and permit one-halt
Of one per cent of the interest
agreed upon 70 so TO amortize the
loan of ten billion dollars and this
with the payment Of the interest
and amortization annually, the
6ebts would eventually be paid.
Until the European reparations
and debt problems are solved, there
can be no peace in Europe and no
stimulation OF American trade
abroad"