The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1924-12-23
France Needs Moratorium
To Pay U. S. A Bill
lions, He Says
PARIS WILL PAY,
SAYS AMBASSADOR
Eventually The Entire
Obligation Will Be
Wiped Out
BY RAYMOND CLAPPCR
,eased Wire To Age-Herald)

WASHINGTON, Dec. 22.-France
insists upon a further breathing
spell before attempting to begin
paving off the $4,0OO,000.000 she
borrowed from the United States
during the war. She intends to pay
ultimately but feels that her finan-
cial condition makes that impossible
at this time and insists upon
moratorium.
This attitude was outlined by Ambas-
sador Jusserand in a speech before
local group of club women-hls 1lrst
statement on the debt question since
the recent conversations with Secretary
of the Treasury Mellon.
Whether or not granted to other ma
tons, a moratorium was indispensable
to France, he said.
No Settlement Near
1t appears that the two govern
ments are still far apart. Recently
Secretary of the Treasury Mellon quiet
" sounded out the French government
through Jusserand, but after a number
of informal conferences it was an
nounced that no proposals had been
made. That was a diplomatic way OF
saving that the two governments could
not get together on any suggestions.
They were so far apart that formal
negotiations were regarded as useless
at this time.
France, it is understood, sought
more favorable schedule on payments
than was granted to Great Britain, but
sentiment in congress where any plan
must finally be pproved-appears to
he against that two members of the
debt funding commission, who are also
in congress-Burton OF Ohio and Crlsp
of Georgia--announced on the floor
that while thea favoredp as much len
iency as possible, they would OBJECT
to giving one nation more favorapie
terms than another. The British plan
has been in operation about three years.
In view of this situation, Jusserands
remarks can be taken as an authorized
statement of the French position fol-
lowing the recent conferences.
Asks Breathing Spell
what we need is moratorium. a
breathing SPELL" he said. THAT is
why l have had some talks here with
the secretary VI LuC IlCoc"AJ.
versions of those talks involved cur
rency, some times they have been called
conversations and some times negotla-
tions. But the upshot of it all Is that
we mean to pay. We always nave
paid. We want to pay. We PAID our
enemies after eight years; the more
determined are we to pay our frlends'
81 am confident that our particular
conditions will be taken into account.
We are not hoping for different settle
ment. but rather for equitable terms.
1t is simply fair terms we seek. A
moratorium is one of the things we
need which the other nations do not
need. We supplied more blood to the
common cause than any one. we sup
ulied the battlefields."
The upshot, is that while no formal
steps have been taken, actually, France
is getting her moratorium. Great Brl-
tain has been paying on her loan Tor
three wears. Several smaller nations
have begun payments. Frances debt is
still where it was on the day of the
armistice and from all indications, there
will be no settlement for some time. Last
week congress extended the life OF
the debt-funding commission for two
wears in the hope that during the time
the French debt an dother foreign
bligations, may be converted INTO
amortized settlements.