Wausau pilot. [volume] (Wausau, Wis.) 1896-1940, 1922-04-20
DEBT FUNDING
MEMBERS MEET
Commission In Attempt to Sal
wage U. S. Interest In
European Wreck.
TENTATIVE PLANS OUTLINED
There Will Be No Joint Conversa-
tions-British Will Be Consulted
First, Then France-Russia
is Not Considered.


Washington, April Salyaging of
the United States governments eleven
thousand million dollar interest in the
financial wreck of Europe was put I'M
der way today, it was announced by
Secretary Mellon.
The foreign debt funding commits
sion, which will direct the salvage
work, met in Secretary Melons office
at 10 a. m. to formally organize and
discuss plans for carrying on the OPP
erations. Mr.. Mellon is chairman.
The other members are Secretary of
State Hughes, Secretary of Commerce
Hoover, Senator Smoot and Repre-
sentative Burton.
Tentative plans as outlined by
Chairman Mellon contemplate separate
negotiations with each of the debtor
nations So far as practicable, negotia-
tions will be carried on with only one
of the foreign governments at time
with Great Britain first on the list.
It may be found advisable TO begin
conversations with one power before
an agreement finally is closed with
the government preceding it, if such
course will make possible saving
of time, it was emphasized, however,
that there will be no joint negotiations
with any of the debtor nations.
No Joint Conversations.
Joint consideration of the war debts
owing the United States by the allies
is a contamination which has been de-
voutIy desired by all the debtor gov
ernments from the time they were
forced to give up their dream of cam
collation. and face the fact that they
would be called upon to pay. But
joint conversations could avail the
United States nothing while they
might afford an opportunity for the
foreign negotiators TO so shape their
program as to confront this govern
ment with unnecessary embarrassment,
AS soon as the commission definitely
agrees on q plan of action invitations
will be forwarded through diplomatic
channels to the debtor governments to
send representatives to Washington to
discuss funding arrangements and re-
sumption of interest payments, which
have been suspended for three years.
All of the foreign delegations will not
be brought to this country at the same
time, however. The British will be
asked to come over first. When the
commission is able to estimate about
when they will be finished with them,
the French will be invited to appear
at definite date, and so on.
Won't Call Russia.
Only the Russians, of all the debtor
countries, will not be called in TO ne
that as ts the debt of S1S7 100000
owing the United States by Russia,
there lis nobody to take it up with"
The soviet government, which sue
ceeded the Kerensky regime to which
the money was loaned, has not yet
been recognized All the Treasury de-
partment has TO show for the $1S7, 000,-
600 are the !. o. Us of Boris Bakh-
meteff still recognized as Russian am
bassador in spite of the fact that his
government has not been in existence
for four and a half years. And in
cidentally, the soviet government never
has recognized Bakhmeteff's ]. o. US
as binding obligations.
Should the Russian government be
recognized during the life of the COM
mission. which runs for three years, it
then will be asked to send representa-
tives here to deal with the funding of
the war debt.