Evening star., 1925-11-03
ITALIAN DEBT BODY
HAS PLAN TO SPEED
PAYMENTS TO j. s.
Offers Three Suggestions
Aimed to Increase ItaIy's :
Ability to Pay.
ASKS THAT AMERICANS
BUY OF HER LITERALLY
Urges Investment of Capital With
Her to Employ Her Pro-
ductive Labor.

Laying its case, in % pamphlets. on
the table to show the difficulty of Gre
ating enough surplus wealth for pay
ment of its debt of more than 81 ,000,-
900 900 to this Government, Italy has
made three specific suggestions as to
how the United states, economically
may strengthen Italy's resources and
thus enable it to pay.
First. The United States could re
ceive more literally Italian products,
and thus increase the export trade
and prosperity of the country.
Second The United States could
supply remuuerative work for Italian
labor.
Third. The United States could In
vest more capital in Italy looking to-
ward the progressive development of
her productive resources.
These. In a nutshell. comprise the
direct and obvious conclusions drawn
from a voluminouS documentary pres
entation by Italy at the first formal
joint session Yesterday Of the Ameri.
can and Italian Debt Commissions.
NJ btllIiitt oHtE
Negotiations were proceeding in
formally today, with no meetings
scheduled between the two commits
sions, to allow the Americans time to
study and reflect upon the case for
Italy laid down yesterday by the
finance minister, Count Volpi, and his
compatriotS. The next joint session
will be held tomorrow morning at IL
o'clock.
spirit of mutual respect and good
will pervaded both Talian and AIneri-
can quarters today as the negotia-
tons entered their next phase. but
there was no authoritative informa-
ton as to who would make the next
step, the United States or Italy. Pre-
Sumbaly. this Government will make
some answer, informally at least, to
the Italian presentation. and later on
both viii get down TO a discussion of
terms
No offer on the funding of the
debt at all has yet been made by the
Italians, a member of the commission
said today.
What the Italian commission is hop
ing for in the way Of consideration of
their three specific proposals for eco
nomic assistance from America was
clusion of his address in reply to the
greetings of Secretary Mellon yester-
day.
Capacity to Work Chief Asset.
After summarizing the pamphlets
he had formally presented for his gov
ernment, Count Folpi, according to
the official statement issued afterward,
said:
In fact. I believe that once rela-
tions as Of debtor and creditor existing
between Italy and the United States
are definitely settled, a new and larger
basis viii be created for the develop
ment of fruitful economic relations
between Italy, a young nation, poor in
natural resources. but rich in capacity
to work and to produce. and the
wealthy American Republic, which
has already contributed so much to
the economic development of the
world. under the enlightened and wise
guidance OF its President, Calvin Cool
idge, and of the Government which
assists him in his worthy endeavors." ="
It is known that the statements of
the Italians in opening their case are
receiving the most serious conStdera-
ton of the American commission.
Each member Of the American com
mission was provided with a full set
of the pamphlets. bound in blue paper
backs, and concluding with the three
suggestions for foreign cooperation.
Mr. Grandi for the Italians ex-
planned that the agreement reached
between the commissioners as to
publicity of the actual progress of
negotiations precluded his making n
statement as to the facts in the case.
In regard to his general impressions
of the first conference, he responded,
through his interpreter, with a
hearty and energetic, Good, good
Has Power to Negotiate.
The Italian delegation differs in
its personnel from the recent French
Debt Commission. In the case of the
French, Finance Minister Caillaux
had gathered representatives of the
various political parties represented
in his Parliament at home, and
brought to Washington a group of
ing all principal viewpoints at Paris.
In the case of the Italian delega-
ton, 1t was said today on good author
ity, the group is unit, representing
the administration in power at Rome,
and is clothed with authority to nego-
tiate and sign an agreement for fund
ing the Italian debt.
Should an agreement be reached by
the Italian commission now here, it
was declared in some circles here to-
day, there would be no doubt about
it's acceptance in Rome.
President Coolidge entertains the
two commissions and prominent lead
erS of the Senate and House tonight
at the White House.
For Frank Discussion.
The two opening addresses by Sec
retary Mellon and by Count Volpi
were made public in a statement from
the Treasury Department, after the
meeting, as follows:
The Secretary greeted the Italian
commission: THE American commits
sion wishes to express to you our
pleasure in meeting you here In Wash
ington around the table for a frank
discussion of the matters involved in
the debt settlement
I'VE thank you for the complete
economic, fiscal and social studies of
the condition of Italy which were pre-
pared for us as the result of our pre-
liminary conference with your Ambas-
sador and Mr.. Alberti last Summer.
We are studying your Recommendation
in connection with similar investiga-
tions by ourselves. / wish to express
our appreciation of the exhaustive ma
ture of the documents you have fur
nished us and of the prompt arrival
In America of your commission with
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