The Birmingham age-herald., 1921-05-15
FRANCE NOT YET
 SATISFIED WITH
 PLAN OF PAYMENT
German Debt Is Cut in Half and There Is No Certainty of Payments to Offset
 This Reduction
By ANDRE TARDIEUN Former French High Commissioner to
 America

Former French High Commissioner to
 America
 Special Cable to The Age-Herald
 Copyright, 1921, by The Age-Herald)
 "A message of warm friendship to France by President Harding becomes public today through M. Tnrdieu to whom the note was addressed in ncknowledgmen of a copy of his re- cent work on the treaty of Versailles. "Nothing will ever disturb the friend- ship which extends between the French and the United States" writes the commissioner. M. Tnrdieu expresses the friendship which exists in French minds as to how the reparatfons sef- clement will work, and shows why France still is dissatisfied with the ence.)
 Paris, May 14.-(Special.) .)-The days just passed have been full of uncertainty for France. For days it was not known what reply Germany would make to the ultimatum of the allies, nor was it known what reply would best serve the interests of France. But two days before the ex- piration of the time limit Germany signifed her acceptance. So what is the situation now?
 France has two viewpoints of the reparations question. The first is of law; the second of fact. The first con- cerns our credits; the second our col lections. How much does Germany owe? How must she pay?
 will endeavor to answer these questions in order
 First, as to what Germany owes France. According to the treaty of Versailles, Germany owes to all the allies the total of damages suffered by persons and by property. Frances total was calculated by the French govern nient in a memorandum to the repara- tions commission in January last at 136 Oo@o00 gold marks.
 SET ARBITRARY SUM
 But while this calculation was be- ing made the allies, at successive con- ferences at San Reno, Lymphe. Bou- logne, Spa and Paris, consented to a revision of the treaty in the direction of the Keynes theories. Instead of fixing the amount of damages the al lied ministers undertook to estimate Con what flimsy dataD the paying powers of the debtor. Instead of drawing up a bill, they set an arbitra- ry sum.
 Agreements reached at these con- ference finally fixed the capital amount of the German payments at 125000, 100000 gold marks, of which France was to receive 52 per cent, or 62,000, 000000. Despite Germanys re- fusal to accept the Paris figures these we're adopted as the final basis and the reparations commission was in- vited to fix the German debt thereon.
 The 132000.000.000 at which this debt eventually was fixed, gave France 68,- 000000,000 gold marks, instead of 136,- 00C,000,000. In other words, just about half of our damage was shifted to Ger man shoulders, and one half to the shoulders of France. This is the first reason why France is dissatisfied with the latest interallied agreements
 CAUSE OF DISSATISFACTION
 Second, as to what Germany will pay France. France is dissatisfied because while beholding half her due aban> dcned. she sees no certainty of pay ments to offset this reduction. We have been hearing for two months that a tangible guaranty would be exacted
 
 has been seized. Soldiers of the class of 1919 have been mobilized, but have not been used. Again, as after the Spa conference in July, 1920, there has been much talk about future sanctions. It is true, 1t is said. these sanctions will operate automatically without further conferences. But the same thing was said at Spa, and since. when three conferences have been held and no sanctions exercised.
 Therefore, France is far from satis- fled with the London arrangements and their sequel.
 ENCOURAGING NEWS
 On the other hand, the American news of the past 10 days has produced good impression. The United States government refused to transmit the German proposition. It has designated representatives to the supreme council to the conference of ambassadors and to the reparations commission. Final ly the House of Representatives at