Show ECONOMIC COUNCIL WAGES H. H HC C. C L. L WAR NAR Wants All AU Nations to Join in War Against Increased Increased In In- Increased creased Prices es esBy By Associated Press LONDON DON Aug 2 Steps Steps toward International in international In- In collective purchasing of foodstuffs to check profiteering and speculation which are declared to be rife in all countries were taken yesterday yesterday yes yes- by the supreme coun coun- dl cil The return to the system m in vogue during the war was proposed by the British French and Italian The proposal was referred to toa toa toa a committee which will coordinate the plan and present it to the American government with an invitation for its cooperation The members of the council stated they recognized that profiteering and speculation had been going on generally generally generally gener gener- ally for some time but the activities toward unwarranted price raising during durIng dur dur- ing the past hirty days Is considered alarming This was due ue the members believed to a sharp fall in the harvest prospects in the past months It was pointed out there was no reason to be believe believe be- be lieve there was not sufficient food tood to last throughout 1920 1020 and there was no reason for the undue advance of ot prices All AU the members of ot the the council agreed it was necessary for the United States to cooperate in the collective buying ing plan because at the present time the United States is supplying such great quantities of food to Europe Europe Europe Eu Eu- rope that the collective system without the United States would virtually be pitting pitting- the buyer against the seller As the food restrictions in the United States ended with the coming of peace when the food administration was de demobilized demobilized demobilized de- de mobilized it was pointed out that Herbert Hooyer representing the United States was not authorized to bind the country to any agreement and for that reason it was decided to place the plan in the hands of the committee The members of the council agreed that the nations on this side cannot and will not in the present social condition condition condition con con- be subjected to further increases in the prices of necessities The members despaired of ot reducing I prices much below the level obtaining I three months ago but they were determined determined de de- deI de- I that if possible 3 they would not permit prices to go higher It was shown that prices in Europe except where commodities were subs subsidized sub sub- s the government were higher than in the United States |