Notes of a Meeting Held at President Wilson's House in the Place
des Etats-Unis, Paris, on Friday, May 9, 1919, at 10: 30 a. m.
PRESENT
AMERICA, UNITED STATES OF   BELGIUM           BRITISH EMPIRE
President Wilson.       M. Hymans.     The Rt. Hon. D. Lloyd
Mr. Baruch.                             George, M. P.
Mr. Norman Davis.                      The Rt. Hon. Lord R.
Mr. Hoover.                             Cecil, K. C., M. P.
Mr. McCormick.                         Mr. J. M. Keynes, C. B.
Mr. J. A. Salter.
FRANCE                                   ITALY
M. Clmenceau.                            M. Orlando.
M. Clmentel.                             M. Crespi.
M. Loucheur.                              M. Giannint.
Sir Maurice Hankey, K. C. B. Secretries
Count Aldrovandi       f
Professor P. Mantoux-Interpreter.
1. Loiu ROBERT CECIL, speaking on behalf of the Supreme Economic
Council, and on the invitation of President Wilson, stated the general
economic problem confronting the Associated Governments. He said
that the most important part of the problem was
The Economic  to get Europe to work again. A great proportion of
the population were out of work in most countries in
Europe. It was useless merely to provide food; in fact the danger
to social order was likely to become worse and not better if people
were merely fed. It was essential that raw materials should be made
available. Poland might be taken as a typical case. Her great
textile industry, on which Lodz for instance was absolutely dependent,
was entirely stopped for want of cotton and wool, although her
factories and their machinery were practically intact. The trouble
was simply that she had no money to buy raw materials and no exports
(a large part of which formerly went to Russia) to send in exchange
for them. Even agriculture was affected by the absence of raw
materials, as the want of proper boots and clothing for agricultural
labourers reduced their capacity to work. The problem then was how
to provide credit. Personally he would not advise giving unlimited
funds or even limited funds uncontrolled to the Polish Government
who might spend them on military undertakings.
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Paris Peace Conf. 180.03401/3


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