The Washington times., 1924-05-20
RANCE At
HEA[)OF
LIST
Interest Increasing Billions
oWed-TotaI Outstanding
Reaches $11 100000
By GEORGE r. HOLMES.
international News service.

international News service.
Renewed efforts on the part Of
the United States Government to
collect some Of the 81, ZOO, 000, 900
owed by European nations viii be
made in the very near future as
o result Of the passage Of the
soldiers bonus-insurance legisla-
ton, it was stated authoritatively
today.
There is one way by which the
cost Of the bonus may be met,
and the demand for tax reduction
complied with, without embarrass-
ment or hardship to the Govern
ment, it was pointed out, and
that is getting Europe's war debt
on a basis that will produce
something.
Burden to Reach Billions.
Treasury officials, busy with their
pencils today, figured that Europe's
unfunded debt to the United States
will double itself in twenty years
and in 1914 at the present rate and
under present conditions, will ap-
proximate $4,000, 100000.
In 1916, the Government will be
called upon to take up the burden
of the veterans insurance policies,
involving an outlay of some $3,0O0,.
100000.
At the same time, there viii ma.
ture some billions in Liberty bonds
Against this day Of financial reckon
ing there must be piled UP huge
surplus, and the eyes Of officaidom
were turned hopefully today toward
Europe.
Figures Given by Treasury.
New figures obtained at the
Treasury today showed that Eu.
ropes total Indebtedness on May Is
was $11 1888, 753,027, of which $780,
66,086,131 is principal.
Unpaid interest is piling up at
the rate Of 1867 900, 900 year.
Only three nations have funded
their indebtedness and put it on a
basis of regular payments-Great
Britain, Finland and Hungary.
Britain's debt was $4,577. OOO, 900.
The others were relatively small,
5 A semi-annual interest payment Of
$69,00O,000 is expected from Britain
on June is.
The French, italian and Belgium
debts constitute the bulk Of the I'M
funded indebtedness. Frances debt
originally amounted to $3,340, $40. 704.
Because she has made no effort
TO fund it, interest at per cent
has swelled the total to $4,063, 902.-
927, as of May Is. Italy's orig
final debt was 1,647 1897 $50, and for
the same reason now totals $2,056,-
279.323.
Nations that have funded, pay
only 3 per cent; those that have
not, pay rer cent-or rather have
1t tackled on their principal.
Officials Are Hopeful.
Officials are hopeful that with
the adoption of the Dawes report
and the return of Europe to COM
parative stability, France, Italy and
Belgium, the chief beneficiaries of
the Dawes plan, will be able to
make some move toward adjust
ment of their American obligations.
None Of them have made any
real move in this direction yet.
France sent over a representative
two years ago who conducted some
conversations with Treasury Off
Gals, returned to France, and
thereafter nothing was heard.
Agitation has been growing in
Congress for some months for the
American Debt Funding Commits.
sion to send reminders to these
three nations that they owe the
United States a lot of money and
that this Government Is in a re.
ceptive mood for payment.
This agitation has been held in
check by the uncertain state of
reparations. Now that this issue is
on the road to settlement, and the
Government has just taken on a
new financial burden in the way
of the bonus payments, the ques-
ton of Europe's payment again
becomes acute.
1t Is not unlikely that the Debt
Funding Commission will shortly
recall to France. Italy and Belgium
the fact that they owe considerable
sums. They should realize by this
time, officials said today, that can
collation. is out of the question.