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Show SUBMIT REPORT Ofl NATIONSVFINANGES COMMISSIONS- ON WORLD-WIDE PROBLEMS HEARD IN THE COUNCIL OF POWERS Concerns War Debts and Debts Made Before the War in Enemy Countries, and Whether They Are to be Paid or Repudiated. Paris. The council of the great powers on March 1 began consideration considera-tion of financial and economic problems prob-lems as affecting both the treaty of peace and permanent conditions after the war. This subject is taken up after weeks given to hearings on territorial terri-torial questions. The subject was presented in two specific reports. One was from the financial commission of which Louis Klitz, French minister of finance, is cluiirman, and Albert Straus and Norman Nor-man Davis are the American members. The other report was from the economic eco-nomic commission of which Albert Clementel of France is chairman and Bernard AI. Baruch, Vance McCormick and Dr. A. A. Davis are the American members. Tlie financial commission's report was brief, giving the main headings of the vast financial reorganization that is required. It does not embrace reparations and indemnities for the war, as those subjects are being considered con-sidered separately. Most of the headings head-ings were presented without recommendations recom-mendations which are left to the council coun-cil and the plenary conference. One of the main headings concerns war debts and debts made before the war in enemy countries, and 'whether they are to be paid or repudiated and, if paid, the manner and priority of payments. Another heading deals with state property in territory, taken over, such as state mines and state railways. Thus far, the proposal to redistribute redistrib-ute the war burden has not been considered con-sidered favorably by the British, American Amer-ican or Japanese members. The British Brit-ish do not wish to add to their burdens bur-dens by taking part of the continental burdens, while Japan believes she should hold aloof from European indebtedness. |