Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1922-08-05
INVASION Of RHINE
PLAN Of FRANCE,
PO|NCARE ASSERTS
Britain's Debt Cancellation
Hint Gets Cold Reception
at Washington-George to
Explain Note

PARIS. Aug. 3.-France plans tc
invade Germany and seize and OPP
crate the coal anG iron mines in the
RCEr basin if the Berlin government
refuses tc pay war debts cid pri
vate claims.
Industries, now in the nards OF
SHINES. Thyssen anG KrupC, al null
timillioraircs. viii be operated by
Franco until all Obligations are met
the French press outlining Eremier
Poincare's plan of coercion, an
Rounced today
According to the plan, Rh:neland
customs barrier against Germany
will be- set UP and German officials
replaced by 2n.rclanders
The Rhincisr.C commissiun. in
event the Ran is carried out, would
call for an election which wolfe give
the territory autonomy.
The Petit Pa,isien states that
Trance is willing to "ed"Ce Ger
many's debt to s12, 900, 100000 on con-
dition that Germany accepts definite
ly and the interallied debts are can
celled.
The note of Lord Balfour, which
informed European allies that they
must pay enough of their debts SO
that England may settle her war OBJ
fhn
played directly into the hands OF
France, it was believed here.
England has told France that she
must pay because the United States
wants her money from Great Britain.
Now France is in a position to de-
mand that Germany pay because
England is demanding money from
her.
Premier Pincare, accompanied
by Finance Minister de Leateyrie,
Count Peretti de IL Rocca, director
of political affairs, and financial ex-
perts, will reach London Sunday TO
participate in next weeks confer
ence on PREPARATIONS and war debts.
WASHINGTON REFUSES
IU CANCEL w An DEBl
WASHINGTON, Aug. 3-Great
Britain's note to her debtor nations
suggesting cancellation of the whole
interallied Indebtedness will cause no
change in the policy of the United
States towards its foreign Cebts, 1t
was stated officially today at the
treasury.
Secretary Mellon was represented
as taking the position that the Amer
lean debt commission must continue
negotiations for funding the obi
cations owed this country without
by Great Britain to wipe out interna'
tional wartime Indebtedness.
Moreover, Mr.. Mellon was under
stood to feel that inasmuch as Great
Britain, in correspondence with the
treasury, has acknowledged Eng,
lands war debt to the United States
and has announced the sending of a
financial mission in September to dis
cuss arrangements for payment OF
the debt with interest, there should
be no hitch in the proceedings. Also
according to the treasury view, Brit
ish statesmen have repeatedly de-
scribed the American debt as an obi
CATION to be met.
While the British note was re-
garded by the treasury as making
somewhat more difficult an already
complicated international financial
situation. it was not considered as
affecting the position Of the United
states towards foreign debtor ma
tisnS.
AS the note was not addressed to
the United States, Mr.. Mellon was
said TO hold the view that no official
cognizance of it's transmission would
be taken by this country, neither
was the not regarded by the treas,
ury as in the nature of proposal
to the United States.
On the abstract question OF can
collation., however. Mr.. Mellon was
declared to have very definite views
as to the undesirability of such a
proceeding from the standpoint OF
the United States. While European
nations might wipe out the debts
owed them, it was eplained their
debts would be wiped out by tie
United States, which, however, oW
ing no one, would receive no com
pensation for relinquishing its tor
eign obligations.
The purpose Of the British govern
ment in sending the note sugges
lions were LlIdI IllCA AAoS 10
heen 2. desire to bring the question
of cancellation to the front before
+he meeting of the French and Brit
ish premiers in London, or to make
II plain that if payments must be
made by England, payments mus
he demanded in turn. Englano
Willingness to lessen her share OF
German reparations, treasury Oh
ficials indicated, might be taken az
revealing a desire to strengthen tn
british world trade position through
enhancing German commercial op
portunity. .;o,
lessening of German reparatloI
navnents to France was regarded
the treasury as somewhat in ths
1;oht of a foregone conclusion, OF
SEALS expressing the opinion tina
Herman reparations at present "er'
OBVIOUSLY more than the trafn'
pould bear" that a willingness oN
E.rance to reduce these payments
u,ouId be merely a recognition of tn
mecessitv of accepting what could b.
Maid rather than demanding the I'm
! possible. ~ +,o AMOR,
ran debt commission and Joan V
Parmentier, the French financial rep
resentative. probably will be resumed
next week.
r.1 ~