The midland journal. (Rising Sun, Md.) 1885-1947, 1925-09-11
DEBT FUNDING
SPEEDED BY U. S.
Commission Brings Pressure on
Smaller Nations to Send Ex-
perts to Capital at Once.
TO PUSH czEcHo sLovAKIA
Program Calls for Swift Ratification
French Cabinet Insists Caillaux
Come Here to Repeat
"London Triumph"

Washington. - Completion Of all
funding negotiations with Americas
wartime debtors and action upon the
agreements by the forthcoming ses-
sion of Congress is the new program
Of the American Debt Commission.
Official Washington appeared salts
fed that the program could be ac-
complished as result Of the stern
measures adopted with respect to the
smaller debtors and assurances Of
action already given by France and
Italy, the two remaining major pow
ers whose debts are unfunded
Dissatisfied with the slow progress
Of conversation with most Of the
smaller nations, the commission has
taken a positive stand, the first evil
dence Of which is the information
that Czecho-Slovakia soon will send
delegation to take up a funding
proposal and that the Greek govern
ment has authorized its minister here
to initiate negotiations. Informal ex-
changes have been under way for
some weeks between the commission
and Minister Pip Of Esthonia, and
the Latvian minister here Is near an
agreement with this government.
The Treasury has not been inform
ed definitely when the Czecho-Slo.
vakian representative may be expect
ed. It was declared in official circles,
however, that the government Of
Czecho-Slovakia had been told direct
ly that the United States desired 1t
to send a commission here without
undue delay.
In making the new representations
to Czecho-S lovakia, this governments
view was said to be that, while there
may be ground for divergent calcula-
tons as to the amount Of the obliga-
ton, there could be no plausible rea-
son why the differences could not be
ironed out and a funding pact ar
ranged.
The Treasury holds obligations Of
Czecho-Slovakia aggregating $91,844,-
1858, of which that nation already has
indicated willingness to acknowl-
edge $SO,234,S0S. The debt commits
sion now insists that the full amount
claimed by this government, plus In
terest, be funded, but it has informed
the debtor government that in the
event errors are discovered, such
amounts will be credited to payments
under the funding settlement
There has been muck jockeying be-
tween the American and Czecho-Slo-
vakian authorities over the difference
in the two totals. On one occasion
the suggestion was made from
Czecho-Slovakian sources that the
whole question be further delayed by
the American government If pay
ment Of about $2,500,00O be made on
the account. This, however, was I'M
acceptable to the debt commission,
which explained that it would not
consider part or incomplete funding
proposal.
OF those powers whose debts re-
main unfunded only Czecho-Slovakia,
Italy, France and Russia owe
amounts greater than $4,000, 900. The
Russian credit of more than $3.50, 900,
900 made to the Czarist government
is conceded to be worthless, but COM
mitments Of character expected to
lead to conclusion of agreements have
been made by both Italy and France.
There is no recognized government
for Armenia, so the $15,000,000 due
from that source also is regarded by
the American commission as hardly
part of its problem.
Discussion OF the foreign debt ques-
ton here also developed an official
expression that Great Britain had
not scaled down the French debt as
far as had been indicated in first ad-
vices Of the Anglo English agreement.
Some observers calculated that the
London settlement had reduced the
French debt to England by not more
than Is per cent, and that by so re-
ducing the total the British Treasury
had gained important benefits.