New-York tribune., 1917-12-23
French High Commissioner
Reports Progress Made
in Work Here
Handled Budget of
II Billion Francs
Tells How u. S. Credit
System Has Facilitated
Repayment of Loans
TSpecinl Correspondence ]

PARIS, Dec 5 (by msil).-The bud
get Of the French mission TO the United
States amounted 20 twelve billion
frames. according to NJ. Andre Tsrdieu'
the High Commisssry Of France to the
United States, who has just returned
from America.
"To realize the greatness and the
complexity Of my task" he said in an
interview with the TEMPS" in which
hs reviewed the work which he had
accom- plished during his stay in the
limited States, "you must know that
.be budget which / had 70 manage
amounted 20 nearly twelve billions
about twice the total annual budget OF
France in peace times.
Object Was Double
"On leaving France, in May, l be
lieved that the object Of my mission
was double; first, 20 bring 20 q maxi
mum the cooperation of the United
states with France as regards finances
armament, food supplies and transpor-
tation; second, to cooperate with Amer
lea. on the basis Of our past expert
enee, in developing the resources OF
The United States for the purpose OF
effectively conducting the war.
"The financial question dominated all
others. A few figures on this subject
win show the progress made during the
last six months. Before the entrance
OF the United States into the war II
was only with great difficulty and in
insufficient quantities that we were able
10 find credit for our payments in dol
lars. In 1914, for example. we tried to
dispose there Of French Treasury notes
amounting 70 s50,000,O00. In 1915 we
were able 70 find market for not more
than $4,000 900 of our Treasury notes.
In 1915, 1916 and during the first four
months Of 1917 our various transac-
tions secured for us the total credit OF
$3.50, 900, 600 at and per cent.
"But this was not enough. England,
which was making considerable pur-
chases for us in the United States, had
TO place s224,OO0,O00 at our disposal
for the payment of additional sums
owed by France.
but since the beginning Of May the
government of the United States
which at the same time has 20 provide
for its own needs and those Of the
Allies-supplied all our demands with
liberality. The sums which l obtained
from May till December amount to
S1,3O0.OO0,O00. at Az per cent These
sums have been sufficient for all our
payments in dollars. and we have not
needed the assistance Of England.
These sums have enabled US to repay
10 England $685. 1900, covering pur-
chases which she continues 10 make
for US according 70 inter-Alhed ar
rangements-for example, purchases OF
cereals.
Granted Thirty Years Credit
Before May we were able 70 borrow
only $3.50 100000, at and per cent
interest, for thirty-three months; since
May, 81 100000, at AZ per cent in
terest. for thirty years.
Before May we needed TO ask Eng
land for S224,O00,0O0; since May we
have paid England 235,OO0.00O.
another important question was
that Of railroads. We have succeeded
in buying everything we had been or
dered by our government-3OO locomo-
tives, 1000 kilometres Of railroad
tracks and 5000 railroad apparatus. In
addition. the American government is
sending $50 locomotives for the Ameri-
can army. and these will diminish the
work Of French railroads.
Il have also received the promise
from, NJ Rakpr the American Minister
Of War, that our orders for several
thousand railroad cars will be filled.
Among other articles. have placed or
derS for raw materials necessary for
the building OF aeroplanes. for copper,
lead, cyanide of sodium, parts of can
non, machine instruments, etc. All
these articles will be charged to Us at
the same rates the American govern
ment is paying.
The significant question of steel has