New-York tribune., 1922-02-24
Frances S Repayment
Goods to America in Return for
Goods Received; No Gold
70 the Editor of the Tribune

OOOUS NCCCINCO, NO \JCIu
To tho Editor of the Tribune
Sir: your paper l.; always bean .
stanch friend OF France. therefore
take the liberty Of writing this letter
in answer to tho statement attributed
/ to Nj. Loucheur. ana which has appeared
in the press. concerning the unwilling
Cured toward tn. country during thu
war
believe that the words spoken by
NJ. Loucheur. if correctly reported, re
quirc some explanation, as feel CON
hdcnt that he could not wish to convey
the idea that France vas now unwilling
to repay her debt when assurances 10
the contrary have been given on many
occasions by the representatives. Of the
French government.
That France is not in position to
repay at the present time is quite cvi-
dent, especially under the form OF
payments that might be acceptable to
the United States, for she has not at
bcr disposal a sufficient amount o. gold
and could not further release the gold
hcld in the BaNquc dc France without
causing complcte collapse Of her
finances
Nhilo it seems to most Americans
that the debt incurred toward this
country is just debt. and ! have no in -
tentlon Of contcsting this point. it is
necessary TO cXamin. the nature Of
this debt TO come TO an exact appre-
CATION Of the dihicultic. under which
the debtors arc placed TO effect the
eventual relcasc OF their indebtedness.
During the war America provided
1arce and the Allies with merchan-
disc o. every description needed for
thc conduct Of the war and for the
maintenance OF their people. No sold
was ever sent from this country TO the
Continent during tina; period
II no question was ever raised at the
time SIS to the character Of the debt
incurred it must bA SAID in MI fairness
TO the debtors That no conditions we're
ever imposed for It's repayment.
Part payments nave already been
made IN the form of American stocks
held by France and the Allies. which
represented loans to this country prior
TO the war, and by shipments Of gold.
Al The gold available and the stocks
have been sent here; how is it there
fore possible to repay the balance Of
thc debt The only way open is by
shipments Of goods from the Continent.
repeat that America sold goods 10
Europe not gold; is it not Just that
goods should be sent back from Europe
now that the gold supply is almost ex-
hausted there
Should the United States govern
ment come to al agreement on this
principle the. French government could
obtain in France each ycsr the surplus
OF thc production and ship it to this
country, thus gradually reducing its
Indebtedness.
But such course does not appear
possible TO the American people. WHO
rear that the arrival Of these goods
would bring complete collapse Of
their own markets. Duties on foreign
goods nave been raised so as to prevent
such occurrence and an absolute OBJ
staclc has been placed in the wav OF
the Allies for the repayment of their
debts
Is it logical to maintain that ru-
ropes debt is Just and at the same
time TO raise ever possible barrier
TO the repayment of this debt?
Is it just that a creditor shall be
able to saT to his debtor: "You wish
TO rcpai your debt. but prefer to let
1t stand With interest running until
the time it may suit me to receive
paymcnt':
However small the interest NAV b.
H%od' IN refusing the only means Of
payment offered by Europe the interest
charge will have the effect Of maintain
ing hurorc's population under heavy
system Of taxation and retarclinr
greatly the general economic recovery.
1ecl confident that when the nature
Of tho debt is understood fully by tho
American people great step toward
proper solution will be made.
] have found in this country great
love and sympathy for France. can
not believe that such sentiment can be
altered by the statement attributed
TO NJ. l'oucheur, for the French people
are more idoalsts than impcrialist5
and they have a deep sense of honor,
which is their pride. P. DURAN.
New York. Fob. 90, 1922.
Pistols for Defense
10 the Editor of The Tribun.