Norwich bulletin., 1922-11-21
ABOUT INTER-ALLIED DEBTS
 AND GERMAN PREPARATIONS

Chicago, Nov. 20 (By the A. PA specific program of amortization of the inter-ailied debts and German repara- tions which, if adopted, would wipe out all debts in sixty-six years by the pay ment of interest and an additional one half of one per cent on principal an nually, was presented to- the Southern Commercial Congress in session here today.
 This plan, evolved by Dr. Clarence J. Owens, president of the congress, and his associates from material collected by the International Trade Commission winch investigated conditions in most l European countries, is to be submitted to President Harding and Secretaries Mellon, Hughes and Hoover A preIimi- nary report already has been submitted to Secretary Mellon and he expressed his desire for the complete plan which Dr. Owens has had prepared.
 Dr. Owens, in submitting the plan to 1 the congress convention, said it was the opinion of the International Trade Con- I mission that the period of amortization i should be fixed for at least five years and that the debts should be amortlzed over long period of years.
 | tained from Europe in 1913, pr. Owens ! said, and incorporated in the Federal Farm Loan Act under which almost S1,- | 000, 100000 has been loaned to Ameri- can farmers. While members of the l trade commission were studying post i war conditione in Europe the plan of amortization of allied debts and repara- tions was preached and received the ap- proval of statesmen in almost every Flu
 ropean country, he said.
 | Acting upon this idea, Dr. Owens had
 prepared. figures for the annual pay ments of various debts, ranging iron
 SIP, ,Oeo, ,ooe 900 down to S350,oo 900
 the interest being three per cent witt
 one-haf of one per cent added fol | amortization. This annual payment, i i continued for sixty-four years woult wipe out each debt, he said.
 l Figures of the congress officials wer,
 submitted to the University of Chicago for veriication and Professor Eliakil i H. Moore. head of the department O
 mathematics, declared the calculations correct.
 The table upon which computation. flor the separate countries were mad,
 exhibited how ooo.ooo.ooo may b
 amortized in sixty-six annual payment I at three per cent, with one=iIzn of on PCA CcllI dIIlO1 lAAd%1OL, lAtC dAfuudl pay
 ment to amount to $35 100000 per bill T lion per annum.
 There are those who may d1ffer as t the rate" Dr. Owens declared, .'hut tn
 commission suggested rate that, il
 the judgment of it's members, the Eu
 ropean countries would be enabled t T pay. It is the principle and not the rat that offers the solution"
 For Germany the amount to be pat
 was fixed at twelve billion dollars. mi: Dr. Owens said, is not the amount pro '~l vided in the Treaty of Vervailles but
 is the approximate amount that virtual Fly all the experts agree dupon as tn
 amount that Germany can pay. z Under this plan Germany would pa annually $420,000, 900 of which ssso 000, ,0o0 would be for interest and $6o 900. 900 would be for principal on tr } first payment. Each year thereafter : decreasing amount would be paid on fl l terest and an increasing amount on tt
 principal For the tenth payment Ge
 many would give $s41.71s,s ,soss7 for II 7 terest~ and $7s.2se,ss1.U5 for principa l At the thirtieth payment she woul ], give s2Ts.e06 .ees.e4 and $141, ,3sS, ,s5o.: s for the principal. The final payment the end of e6 years would be 3s50,23
 5sk-ss e yhieh s1a aol .1sS.s2 would