The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1925-02-09
BRITISH DEBT
Plan COSTLY
To i. s.
America Would Lose II Bill
lions II Generous" Pro-
posals Were Adopted
By GEORGE r. HOLMES.

Great Britains offer to substaIl.
TALLY reduce the French war debt
was read with unusual interest In
washington today, because Of the.
acuteness of the Framco-An1erioan
debt controversies but on every.
hand It was stated that the British
position win cause no. change III the
American debt policy.
The American policy, under three
Presidents, has been and win con
tinue to be, II. was said 20 accord
debtor nations generous terms IN
the WY Of interest and time but
to collect In fun the Billions 0R dol.
lars that European nations drew
from 1917 to 1919 on ordinary com.
mercial paper.
Treasury officials were quick to
point out today that while the
British note has the surface APP
spearance or generosity. actually
there Fl nothing new iii the proposi-
ton, FOR Britain has all along
advocated mutual cancellation Of
war, borrowings.
u. 3. Would Lose Ont. Z
Such 3 cancellation would, oe
course. make France the CHIEF
D8U8AA0A%EEsXas
and cost the United States Iii 90
cess of SO 900 900, 900. France, fpr
instance. would be called upon t0
forgive debts of only So, 900, o % 900.
while she owes about SD, 900, COZ, 900.
Administration Officials pointed
out, too, that there are considers
4ions entering into the nencO-
British debt that are entirely alb
sent in the Franco American debt.
France and Britain negct Stated Il
treaty Iii 1916, kong before The
United States entered the war,
whereby they agreed to maxi q
common cause Of the wal against
Germany, To the extent 0f pooling
money, men and resources. They
fought the war as common cause,
as European allies, having the
same interests at stake. Together
they received the great bulk of rep.
aratiOns, the division Of colonies
and territories, and the Otia0r fruits
OF victory after the war.
Wilson's Attitude
None or these considers tons On
ter into the Franco-American con
troversy, Treasury officials eaid to.
day. When the United Etatss IN
tered the war 1T was as an inde.
pendent nation, . distinction that
/ President Wilson always WAS care.
full to maintain through hls insist.
erce upon the phrase allied and
associated powers. :, and In the al.
vision OF the spoiIa America asked
for nothing and got nothing.
Therefore, the same considesa.
tiOns that enter into the Franco
British debt, cannot properly be
said to obtain In considering the
money France borrowed from the
United States more than 81 .0UO,.
OOO.O 900 OF which was after the
Armistic, administration officials de.
cIared.
Unless France approaches the
United States with some 'Teal
negotiations for funding the 81.
600, O0O, 900 she oWes.vit seemed GER
tain today that there will be an
other nare-up in Congress within
| the next three weeks.
BOrah Collects Data.
Senator Borah, Chairman Of the
Senate Foreign Relations Com
mittee, is now compiling data on
both the French and Italian debts
which he plans to present to the
| Senate before adjournment.
France and italy are our two
biggest debtors, he declared.
They are just debts and should ne
paid, and intend to keep this sub
ject before the world until sonae
agreement is reached. "