The Monmouth inquirer., 1923-12-20
U. S. EXPERTS IN
DEBT INQUIRY
European Accord Obtained for
First Time on Plan of Ending
German Financial Chaos.
GOVERNMENT NOT COMMITTED
League Board to Select COMMITTEES
Members for Broad Inquiry into
Plan-Whlte House Will "view
with Favor" Cooperation.

Washington. = President Coolidge,
In a formal statement from the White
House. announced that the American
Government has given its approval to
the new movement begun by the
Preparations Commission for the sta
bilizing Of German currency and
finances. which is a prerequisite to
the settlement of the reparations tan
gle. The Presidents statement fol-
hws:
The Gc4 eminent has been inform
ed that The Preparations Commission
is considering the establishment Oh
two expert committees. one to con-
slider the means OF balancing the bud
get Of Germany and the measures to
be taken to stabilize her currency;
the other TO take up the question Oh
the capital which has been removed
from Germany. The inquiry OF the
first committee would comprehend all
the conditions to be realized and the
measures t. be taken to accomplish
the results desired.
All The representatives OF the GOV
ernments. members Of the commits
sion. have expressed the desire TO
have American experts on the two
committees. 1t is understood that the
Government of the United States is
not in a position to be represented on
these committees, and that the invita-
ton to the American experts will be
extended directly by the Preparations
Commission. This Government be-
Heves that the proposed inquiry viii
be of great value: in view OF its direct
interest as a creditor and Of the I'M
portanee of the economic recuperation
in Europe It would view with favor
the acceptance by American experts
of such an invitation.
RE immediate proposal before the
Preparations Commission has been
made by the French delegate and
president of the commission. and has
the support, it is understood, of all
the allied Governments. The British
Government has informed this Gov
eminent Of its desire that American
experts should participate in the in
quiry.
The German Government has also
brought the matter to the attention
of this Government, stating that it
would be much appreciated IL an
American expert were to participate
in the work Of the first committee
as above proposed, as 1t is believed
that in this way important progress
could be made toward the solution OF
the problems underlying economic re-
covery
American approval OF the program
for working out financial plan to
rehabilitation Europe, il was clearly
stated at the White House. does not
involve participation by the Govern
ment or the assumption Of obliga-
lions. It only implies the participation
by private American citizens in the
deliberations and findings OF the two
committees OF experts which the Rep
arations Commission proposes to SET
Up. The new financial proposal as OF.
fcially explained is:
First-The setting up Of commit
tee Of experts to balance the budget
Of Germany and to stabilize her cur
rency
second-The establishing OF an
other committee to determine the
amount OF German capital removed
from that country and to ascertain
where that capital now is.
It is proposed that an American
expert be invited to each OF thess
committees. The first proposal is b.
far the most important. inasmuch a:
the scope OF its action permits 4
wide inquiry into the whole fabric Of
German finances. including her ability
10 discharge payments on account o.
separations. It permits an analyst.
Of German revenues and expenditures
which is the basis of her capacity tt
pay.