The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1925-09-24
HOLD FIRST
SESSION
HERE
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laid before the American Commits
sion his tentative proposal Of terms
for the payment of the debt, al.
though no public announcement to
this effect was mace.
At the end of an hour, however,
the initial conference broke up, ana
II was announced that the American
Commission would meet alone this
afternoon, presumably to consider
M. Caillaux's proposals, and that
another joint meeting or the TWO
commissions would be held tomor-
row morning.
The American Commission re-
manned in session after the french
had left the Treasury for discus
sion of some of the smaller debts
owed bv European MISUNDERSTANDING
Slovakia, Rumania and Latvia. all
of which are now to be pressed TO
settlement. The Zechs are sending
a debt commission to Washington
next month.
The negotiations were opened
with a simple statement from M.
CaiIlaux of his country's desire to
meet her obligation 70 the United
States.
World Peace Involved
Secretary of the Treasury Mellon
replied on behalf of this Government.
He stressed the Importance OF invio-
late agreements between great ma
tons, recognized the burden France
has borne, expressed confidence in
her ability to meet that burden, and
closed his brief remarks with. this
-,
1--WE know that this conference
opening today may influence greatly
the peace Of the world, and we,
ourselves, cannot escape its roper
cussiens.
cit is our duty to reach with
YOU a conclusion In the estimation
of each of our peoples fair, and in
the practicable test Of time work
able
The meeting opened at 10 o'clock.
After the photographers had left
and the doors closed, NJ. Cailla.ux
rose, at a nod from Secretary
Facing the American Commits
sioners, he said:
Anxious for Settlement
Gentlemen:
"I have come from France en-
trusted by my government to meet
the obligation of my country toward
the United States.
members OF our Parliament, be-
longing to all parties, chatrmen or
reporters of the financial and trade
commissions Of the Upper ana
Lower House, have been so kind as
to accompany me.
Like myself, these gentlemen
fnGf 6aSiFn tn reach
q settlement.
'W do not forget and no one will
ever forget what we owe TO
America for her splendid work to
end, VIGOROUSLY, the war, and Tor
the generous help our people re-
ceived from citizens of the United
States in time of need. We neither
forget and we feel sure nobody on
this side of the Atlantic forgets
the ties knotted between our coun-
tries at the end of the Eighteenth
century.
Now. if you wish, we'll go to
work as practical men, desiorus TO
come to a settlement satisfactory
for all material interests, worthy OF
the past of the two great nations,
combined in such way as to
fortify peace and help the, economic
sterilization of the world"
Melons Response
Secretary Melons response fol
lows:
-"One by one. the world is over
coming the effects of the war
which so long after it's termination
Iinger with us.
1.-THE Dawes plan is a forward
stGp toward economic stability in
Europe. The reconstruction of
devastated areas approaches con-
cluAon; government expenditures
are becoming more regular, more
certain Of estimation and more pos
sible of being met through taxa
ton; budgets are approaching
equilibrium. There still remain,
however, loose ends to be gathered
in. War and postwar govern
mental debts in many cases remain
unsettled.
ITO establish the binding char
acter of an international promise
and TO protect it's own citizens, the
creditor nation must seek adjust
I:1ent. To keep good its word, and
TO give itself time to recover its
prosperity, the debtor nation must
determine its future liability. No
concern can successfully be
reorganized in the face of an I'M
funded demand obligation, so we
meet here in. council as business
men to conclude the one matter
which is in controversy between
our two countries.
I'VE were glad to receive the
help which France extended to US
when we were fighting for our in
dependence and we We're eager to
make some return in Frances own
great need.