Evening star., 1924-12-16
FEAR FRENCH SPLIT
WITH GREAT BRITAIN
ChurchiII's Speech Believed
Forerunner of Trouble Over
War Debts to U. S.
By WILLARD BIRD.
by Radio to The Star.

by Radio to The Star.
PARIS, December 16. - Another
split between Great Britain and
France threatens over the question
Of their debts to the United States.
Winston ChurchilPs speech in the
House of Commons is hailed here as
an omen of direful debates to follow
when the interallied financial confer
once opens. The tendency of France s
conservative banking circles is to
condemn the Herriot government for
attempting to reach a separate un-
derstanding with America without
consulting Great Britain.
La Journee Industrielle, a daily
newspaper which represents the big
business Of the country, says, every
time our diplomacy tries to treat sep
arately with America on q question
which is interesting to Great Britain
also. it goes wrong
This much commented upon remark
rs meant to be a severe reprimand to
Premier Herriot and Ambassador
Jusserand for attempting to settle
Frances debt to America without con-
si6ering England's position, which is
almost the same as Americas, SO far
as France is concerned
Criticize Baldwin Action.
OF course. it is true that Great
rection by negotiating the Baldwin
agreement providing for the payment
OF the British debt to America. This
action appalled, France at the time
and has since aroused much criticism
in England, even from such astute
politicians as Lloyd George. But al
the time Great Britain made the ar
Management 1t was regarded as a mag
nificent gesture toward helping ce-
ri
Frances action of a like nature,
however, comes at time when the
bankers of the world are beginning
TO perceive that the Baldwin agree
nent is practically impossible of exe-
oution.
From the French point OF view,
and, indeed, from the point OF view
of bankers the world over, this whole
question of debt settlement is a game
Of diplomatic bluff. Neither France
nor Great Britain, 1t is held, can
possibly meet her obligations toward
America unless America will lower
her tariffs and admit flood of Euro
pean goods.
French Fear Blame.
What has happened thus far in the
British payments is that American
securities which were held in Canada
and the other dominions have been
transferred to London, but they are
now almost exhausted.
The question, as the French see 1t.
is, Shall France as well as England
default2" 1t is believed that If Am
bassador JusSerand had refrained
from negotiating at this time the
burden of defeat would have been
laid on England alone and France
would not have been mixed up in 1t.
But the negotiations between Am
bassador Jusserand and Secretary of
the Treasury Mellon, coupled with
winston Churchilrs declaration that
France must pay England as well as
America, makes the French fear that
the final blame for the feilure will
rest on France.
See Hope in Logan.
The one ray OF hope seen here is
that America is being represented
at the coming financial conference
by Col Logan, with full powers TO
take part in it instead of being an
official observer. There is a great
possibility that something akin to
the Dawes plan will be evolved, by
which payments on debts may be ad-
5usted to the capacity to pay of the
countries involved.