New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1922-01-01
Capital for Consorti,,m
May BE Set at Twenty
Million Pounds, With
No Limit TO Borrowing
First Help To Be
Extended Austria
Cannes Council to Rule on
Berlin; Conference in
" ashington Predicted
BY Wilbur Forrest
Specid' Cablc 10 I'M 7,ibuu-

4nt 'dbtc 10 Thc Tribune
Copyright. 1922. Now York Tribune Inc.
PARIS, Dec. 3l-The conference os
Allied lnancicrs and industrial leaders.
which has been in session two davs at
the Quai d'Orsay, adjourned this after
noon after adopting tentative plans for
the economic recon struction of Europe.
These plans viii be submitted to the
Allied Supreme Council at its meeting
at Cannes. A brief communique was
issued, announcing that program had
been drawn up for submission to the
council and stating that in the mean.
time it wo"ld oc kept secret.
The broad outlines Of the nroeram
however, arc known TO provide for an
international conaortium whereby the
economic ills of Europe may be rem
edled by commercial and industrial
agreements, together with financial
operations necessary to restore trade
conditions to normal
Preparations issue Untouched.
It vas emphasized in government
circles herc to -daY that tho present
conference did not take no either the
reparatlopa problem or the matter Of
sterilization Of exchange, which will
he dealt with b. tho Supreme Council.
me Iemps tonight in reviewing the
ohiect Of tic meeting says:
"o0fclally, this preliminary work is
designed to assist all the European
countries which are suffering on &C
count of tho depreciation in exchange.
In reality. the princi pal thought is for
RuSsla. English tinanciers brought for
ward their proposition for a consortiunr
chiefly because OF Russia. The Franco
hnglish committee viii continue to
study this project because many dc
tails must be cleared up, the first one
Of which is what money this group is
10 use. It is supposed that il viii de-
termlne what present conditions arc
and then, when all plans arr settled.
the consortium proposition viii appear
Germany should find place in this
group. and later it is certain that for
the realization OF . consortium il Will
hc necessary to cal an international
meeting, with tho Soviet represented.
Great Britain's Motive
England is interesting herself chic ay
Tor the reason that she is suffering
from unemployment due to lack OF
buyers. The reconstruction Of busi-
ness would give her an excellent outlet
for her goods as we'll as enrich Ger
many, which would then take its for
ner place as ono of England's best
customers In reality, the English
could nave awaited a moro propjtious
moment tor attempting to reha ilitate
Russia. but certain reasons caused
them to hurry. For one reason they
= T. f,,i. l.-t : =
mcnt will give them every advantage
possible. and they fear that the fall Of
the Bolsheviki may be followed by
complete anarchy
The tendency of the "vcmps7 to
rscribe Interior motives to the British
is not generally shared here. White
nothing defnitc can be forecast re
gardine Tho Cannes meeting. it is in
creasingly evident that the Paris gath
crjng will result in the formation of a
nucleus system whereby not only Rus
sia aud Germany will be able to wor1
out Their destinies but in which all the
nations Will be permitted to join not
only ii the general reconstruction Of
Europe but of the entire world.
The seed for such a system was
ing OF Premiers BRAND and Lloyd
George in London.
The plans drawn up at the Paris
conference. so far as the Allies are
concerned, Will either be accepted in
full or modified at the Cannes meet
ing. Later, it is believed, moro gen.
cral conference win be held in some
neutral country, and it is possible that
a final vital meeting may be called in
due time in ashingtou itself.
Public Utilities First
PARIS, Dec. 81 tBy the Associated
Press) The plan for re-esta blishng
the international credit of Europe is
based partly upon the international
credit scheme Of Dr.. J. Ter Meulen. the
Dutch economist, which was approved
by the financial conference at Brussels
last year.
The idea is first to upbuild the pub
lie utilities, railways aed kindred
agencies in countries where economic
stagnation is due to lack of transpor-
tation. The assets of the countries
thus aided will. as provided for in the
Ter-Meulen scheme he pledged as Sc
curitv for the loans involved in cases
where the consortium has not given
concc ssion for operation.
First Aid for Austria
Austria, which is regarded by the
as in the direct need, is
expected to be the first beneficiary in
the working out of the scheme, with
the hope that her recovery will con-