Evening star. [volume] (Washington, D.C.) 1854-1972, 1925-05-17
Economic.

ECOIiOFfKtC.
Actual steps are at last being taken
In France to fund her foreign debts.
Discussed pro and con. heatedly ana
coolly for the last year. the question
has come to the front this past week
in manner which indicates an early
attempt, at least, to settle a question
which has been embarrassing to
France and to her allies, especially
the United States.
The formal negotiations between the
French and Americans over their
debt will take place in WASHINGTON,
where the American Debt Funding
Con~n1ssion is located, at time yet
to- designated. But informal nego-
tiation has already led the French
cabinet to assign Finance Minister
Caillaux and Foreign Minister BRAND
to study the question with the view to
finding an acceptable solution
Prospects for a final settlement are
particularly bright at this time, II con-
dftions may be adJudged CORRECTLY.
Defeating his administration or the
treasury portfolio to a settlement OF
the vexatious question of French
finances, Minister CaillauX has already
declared that the first step toward
establishing French credit is to settle
the question of foreign debts. In MS
appearance before the French Cham
Der of Deputies ast week the French
finance minister declared that receipts
from the Dawes reparation plan pay
nlents from Germany must be used in
this direction, although he has not
intimated what percentage of this
money will be so used. This must be
done, he asserted, however hard it hits
France.
Contrasting with some reports that
American business has been hurt by
President Coolidge's repeated pleas for
economy. Representative Charles j.
E,sterly of Pennsylvania has returned
to Washington from a tour of Amer
lean cities with the report that he
never found more prosperous condi-
tons with business improving and
on the upgrade.
Working on the theory that a stitch
in time saves nine, and that While
there is peace between employer and
employee on the railroads is a good
time to discuss the labor situation,
William G.. Lee, president of the
Brotherhood of Railway Trainmen. is
arranging a conference at Cleveland
within the near future. Railroad
men. representatives of both sides, and
the public will discuss the pro and
con of the present situation of the
railroad world. No action taken by
the conference is intended to be b I'D
ing on either side.
Representatives of the Soviet gov
eminent in London last week made
known plans which would result in
the construction of a trans-Sioerian
railway, 5000 miles long, and which
would traverse little-explored areas
containing great undeveloped wealth
in gold, platinum, timber, fur, mann
moth ivory and fisheries. The Soviet
government suggested that England
furnish the necessary machinery.
The wide fluctuations recently in
the Chicago wheat market. in which
SPECTATORS and others lost heavily,
were due to the operation of limited
number of professional spectators.
according to a report made public last
week by Secretary of Agriculture Jar
dine after an investigation. The find
ings thus far do not warrant any
criminal prosecutions, the Secretary
said, but he asked the Chicago Board
of Trade to cooperate in taking meas
ures which would prevent, in future,
such rapid rise and fall on the market
The Chicago Beard Of Trade has
promised such help.
Clothed with power to "speak with
authority for agriculture" a commits
sion of twenty-five farm leaders, Sc
lected from twenty-four of the leading
farm organiZa lions of the Middle West,
was formed in Des Moines. Iowa, last
week. Representatives of the farmers
issued a statement outlining a united
program calculated to coordinate the
future efforts of the farmers" The
farmers ask Congress for an export
corporation. adequately financed, and
consisting of farmers selected by rec
ognized farm organizations.
Henry Ford has offered to buy 400
ships from the Shipping Board which
We're built during the war, and after
scra piping all but ten or twenty oper-
ate the remainder. The ships are
idle, have been since the war, and are
an expense to the United States, which
spends about $500 on each of them to
lessen the deterioration which is con-
stantly taking place. Mr.. Ford's offer
to buy them from the Government at
a reasonable price will, if it is placed
before the Shipping Board officially.
meet some opposition there. Some Of
the members are quoted as believing
that maritime interests of "other ma
tions" would be pleased to see the
United States scrap one-thirG of it's
fleet. the value Of which is unde-
termined in the present condition Of