The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1924-12-08
DELAY FOR
/. PAYMENT
SOUGHT
JOn-Year Moratorium Is Aim
Of Paris Financial
Experts
BY GEORGE r. HOLMES,
Internal lcnal News Service.

France win send funding COM
mission to the United States to
discuss the actual terms for
settling her $4,000, 100000 debt to
this country, it was learned au-
thoritatively today.
Ambassador Jusserand, W h o
initiated the debt discussions q
few weeks ago, after a lapse. Of
two years, has informed Secretary
Of the Treasury Mellon that he
has not been authorized by his
government to offer terms, nor
has he authority to accept such
terms as might be forthcoming
from the American Debt Funding
Commission.
Discussion Only General.
The French Ambassadors in.
etructions from his government
have gone no further than to
initiate the settlement discussions,
assure officials Of this Government
OF Frances determination to pay,
and report back to Paris on the
general situation.
MY government would like to
make q settlement soon, and when
that time comes we will send a
commission to the United States to
work out amicable terms said
JusserandA in effect. when he
called upon Secretary Mellon
Hence the discussion between the
Ambassador and between members
Of the American Commission has
been only Of the most general
character. The negotiations have
not yet reached stage where the
trading" talk has started.
Jusserand May Be Head.
1t is expected by officials of this
government that when the French
commission arrives it will be
headed by M. Jusserand himself
He is to be retired as Ambassador
eexts month, and VIII return 10
France after twenty Years service
here. No other Frencllman is so
familiar with America and Amer
tcans as JusseraI1d, and the feel
ministry could make sno. happier
Ehoice to represent France in the
Aelicate situation that has enveloped
The matter Of the debt.
While the talk OF terms has
been most sketchy and general to
late, there has developed an
hnanimity of opinion that amounts
Almost to an understanding, that
/ moratorium period of perhaps ten
Fears must be accorded the French
p any settlement agreed upon.
This was confirmed today in
official quarters.
Not Able to Pay Now.
France, at present, is not able
70 begin payments. Members Of
convinced of that, and were con.
tinced of it even, before it was
dressed by M. Jusserand
In ten years IL European condi-
tions remain tranquil and the
Dawes plan continues to operate
tmoothly France will have begun
10 get on her feet sufficiently to
Begin payments OF actual cash to
Ihe United States.
Interest payments during this
period would not be waived, bur
would be funded into the general
lebt.
Consequently the expectation pre-
rails here that when the French
mission arrives it will be offered
Terms closely approximating those
" the British settlement, but with
The additional concession of a ten.
rear moratorium period. and per-
laps slightly longer term Of
tears covering the whole payment
The British debt is to be funded
bver period OF sIxty.two years.
Eighty years have been suggested
Tor France.
Doubt British Protest.
1t Is not believed here that any
British government would protest
against such terms for France or
lsk a modification Of the British
settlement.
Administration officials are keen
" anxious to get the French debt
bundled, not entirely because Of the
money to be brought into the Treas
hry, but also because Of the moral
Affect it would have on the other
zig debtor nations, Italy and Bel
tiun in particular.
These two countries which owe
NE United States approximately
l2,0OO, 900 900 and $3.50, OOO. 900, re-
tpectively, have shown an inclina-
don to follow France in all post
war adjustments, and in the matter
II the American debt particularly.
Once this French debt Is funded
bfficials Of this Government be-
leves that Italy and Belgium would
ipeeo1ly follow suit, and the whole
I12.000, 200, 900 owed the United
States by European nations nut
bpon a permanent collection basis.