Evening Republican, Volume 23, Number 237, Rensselaer, Jasper County, 1 October 1920 — VIEW WORLD'S FINANCE STATUS [ARTICLE]

VIEW WORLD'S FINANCE STATUS

International Conferees at Brussels to Take Up Huge Problem. OPTIMISTIC AS TO FRANCE Italian Senator Declares Labor Troubles in Italy Are Purely Economic and Are Nearing Settlement— America Has Observer Brussels, Sept 30.—Reports relative to the financial position of various nations were received by the internatlontional financial conference here. It is the plan of the conference to get a broad view of the whole situation before attempting to make recommendations, or dealing with probpresented by any particular tryAn optimistic view of the situation in France is taken by M. Devenol, one of the French delegates, who was one of the last speakers Monday. He pointed out that France was still obliged to borrow money, but it was not for use In carrying out ordinary budget projects. The money, he declared, was to be expended on reconstruction work that could not be delayed until reparation payments are made. He said the French budget is being .covered by. revenue receipts, adding: “The whole world benefited by the effort toward restoration made , by France.” The wheat crop of this year is showing an increased yield per acre, he asserted, and he estimated the country would have 100,000,000 bushels for export. „ Premier Delacroix of Belgium was sharp in his criticism of the tax on capital in Italy. In replying to the address. Senator Rizzi-of Italy took issue with the Belgian premier’s statements, saying the Italian tax was a' real capital levy, payable in twenty years, instead of thirty, with a revision of values of estates every live years. He asserted Italy had accepted tills tax as a necessity and did not regard it as likely to be harmful. "Italian labor troubles,” he declared, "are of a purely economic origin, and are nearing, a settlement.” Mr. Ryderk. the Swedish banker, advocated Indirect’ in union In preference to direct, which, ne asserted, held down production, resulted in wjasteand contrlbdied -to the high cost of living. Drafting of resolutions, which will mark the first step toward reaching conclusions In the conference, bas been placed in the hands of a committee. The resolutions will set forth the view of the < oniejence -on questions relating to public finance, which will be classified In four categories, outlined by R. H. Brand, British vice president of the conference, as follows :

1. Equilibrium of budgets, reduction of expenditures, limitation of governmental functions, redaction of armaments. elhnimitiou of subsidies and selection between direct and indirect taxation on .capital. . 2. Necessity of limiting loans to real productive purposes. 3. Funding of external debts, with a fixed date <if redemption. 4. Advisability of internal and International trade lestrlgijions. American Io Observer. work of the assembly war begun by the committee on public finance, on which Roland W. Boyden the United States as unofficial observer. While the monotonous reading of figures was going on in the main session of the conference, the committee began the appointment of subcommittees to draft resolutions in the four categories, embodying questions tor submission to the main committee. Later other committees will be named to consider currency and International treaties, and experts will be called .in. . The resolutions to be presented are expected to constitute the nearest approach to practical results from the . work of tfie conference.