New-York tribune., 1920-08-09
france to Pay
Share of Loan
To U. S. in Oct.
Minister Says Nations Part
Of S5OO,O O,OOO Debt
Will Be Met Regardless
Of German Indemnify
Exports Make Big Gain
frade Balance Is Reported
7 Greatly Improved: Pro-
vide for All Expenses

France is ready to meet her share of
,,s $500 coo 600 Anglo-French loan due
~ ,he United States in October, it was
announced yesterday, regardless of
wbsther Germany lives up to its in
Ssmni,v obligations. The announcement
vas made by Maurice Casenave. Minis
+nr Plenipotentiary and Director Gem
.rsl Of the French service in the United
States.
frances exports were gaining over
;ts imports at such a rapid rate, it was
.s;d that the difference between them
had been reduced by 2S.9T per cent. and
s. the same rate of progress was main
! ts;ned imports would be balanced by
sxports. before the end of 1922. NJ.
Cssenave's statement follows:
aJTu TO the present time, on account
~ economic ard political obstacles to
.be enforcement OF the Treaty Of Yer
saiIles France has not received any
cash payment by way Of indemnity
from Germany Certain deliveries of
coal were made last year by Germany
10 France but these did not approach
the quantity stipulated ny the treaty
Could Not Meet Obligations
so far this year Germany has been
prevented by difficulties in the Ruhr
region from meeting her obligations to
France in respect OF coal deliveries,
hut the French government, realizing
that coal must be procured at all costs
10 increase the output from the re-
viving industries of the devastated re-
eious. has gone so far as to authorize
loans TO the German government at
the rate Of 100000 francs month
for six months so as to assure the de
livery Of the necessary fuel from the
s .hr district
AIn the first i've months of 1920
France improved her trade balance by
nearly 100000 900 francs, increasing
her exports during that period by
SS54,466.000 francs, or 1921 per cent.
as compared with the figure for the
corresponding period Of 1919. New fig
ures for exports and imports, covering
the month Of June also, have just been
received.
These show that during the first six
months OF 1920 France improved her
trade balance TO an extent which re-
duces the difference between her i'm
ports and exports by 2S.97 per cent.
II this Improvement is maintained at
the same rate the exports and imports
Of France will balance before the end
Of 1922.
To Pay Share of Loan
While France intends to obtain full
payment Of the indemnity which is due
to her by Germany, she is now acting
IS though such payments would not be
made
The budget for 1920 not only makes
provision for balancing her ordinary
expenditures ont Of taxation. or or
dinary receipts, but alocates also
cut Of. ordinary receipts 9,400,O 900 900
francs for the purpose Of interest on.
and amortization of, the national debt.
Moreover. the actual returns from
indirect taxation during June, 1920.
exceeded budget estimates by 277.694.-
800 francs, or az per cent Finally.
the returns from indirect taxation
during the first six months of this
year were $50 per cent in excess of
the returns for the same period in
1914.
France is prepared to meet in full
ser share of the S500,0O0,O00 Anglo
French loan due to the United States
in October