The Washington times., 1924-12-06
FRANCES DEBT
TERMS LIKE
BRITAIN s
Officials Here State No Ad-
vantage Will Be Granted.
Congress Would Balk
BY GEORGE r.. HOLMES.
international News Service.

Administration officials are Sc.
riously concerned about the furore
that has been kicked up in Great
Britain over the negotiations now in
progress between Secretary of the
Treasury Mellon and Ambassador
Jusserand in regard to the funding
of Frances $4,000, 8O0,0 900 debt.
What is automatically described
as "a delicate situation" has been
created. And it is freely admitted in
official circles that some skilful
maneuvering win be necessary if
the United States is to emerge from
the negotiations with the money
France owes and with the cordiality
of Anglo-American relations unim-
pared.
Great Britain's insistence that If
France Is in mood to talk about
paying the United States, she should
also be in mood to talk about pay
ing Britain, has complicated the
whole situation. France owes the
United States $4,000 900, 900. She
owes Britain more than $4,000, 000,-
900.
Jusserand's Opinion.
It was noticed today that Am.
Dd5SdQOE JuSSCEdAAdy opCuhAA6 AAk
New York last night, declared that
France intended to pay the United
States every cent she owed, but he
made no reference to Frances
other obligations.
when we pay" said M. Jus.
serand, I'VE shall pay to the last
cent. But I think you will not
forget that we spent more blood
ap III nd HIT
five-sixths of the money borrowed
here during the war was spent in
America.
Jusserand's remarks anent the
debt situation constituted a plea
for easy terms. 1t is the same plea
he has been making in the con-
versations with Secretary Mellon.
In response to the outburst in
the British press over the pos
sibility of the United States grant
than were accorded to Great
Britain, officials here privately are
Of the opinion that there will be
very little difference in the terms
in the final analysis.
Congress Would Balk.
In the first place, it is recognized
that Congress would likely balk at
ratifying any agreement containing
more liberal terms tn,1u are con-
tanned in the British agreement.
The British settlement is the key
stone of the whole American debt
settlement policy, and any radical
departure from it would not only
endanger the whole structure, but
also be manifestly unfair to Eng
land as well as four otner nations
that have funded their debts On
the basis of the British agreement
The principal concession TO France
discussed thus far is that of a
moratorium for a stated term of
years before payment begins. There
is a disposition on the part of Gov
eminent officials TO recognize the
advantages of this. Through the
operation of the Dawes plan Europe's
feet are now on the road 70 eco
homie stability. A moratorium for
ten years would allow a period in
which France could prepare to as
sumo the financial burden Of the
debt.
AS a matter of fact, officials
pointed out today there is actually
now a moratorium in effect so far
as the French debt is concerned.
At least France is not paying any
thing on principal or interest And
If the present negotiations fall
through, there would still be nm UNI
official though very effective mora
forum of indefinite duration.