Evening star., 1925-10-04
PUBLIC OPINION SCORES -
VICTORY in DEBT PARLEY,
French and Americans, Anxious to Reach
Agreement, Held Back by Political
Consequences of OverstePping Line:

that President Coolidge, in little lesa
degree than NJ. Caillaux. had to bear
in mind the political consequences Of
an unpopular debt settlement. There
is general election impending in
the United States. Control Of the,
Seventeen Congress will be at stake,
in 1925. The Democratic party is-
eager for a victorious campaign issue.
1t was necessary for the Coolidge ad-
mintstration. Is the custodian of G.i
o. p. fortunes. SO to safeguard the
interests of the American taxpayer
in dealing with the French that no
political advantage could be derived
therefrom by the Democratic foe.
1t is contended by the American
commissioners that the welfare OF
our taxpayers was necessarily upper
most in their minds. That is why
the commissioners final statement to
the French pointed out that. although
France was offering America an ag-
gregate Of, 5000 .000, 900. the present
value of that sum, if paid in full.
upon the basis of interest which we
bear on Liberty bonds) is only about
81, $50, 900, 900. Then the commission
further set forth that the latter,
amount comnares with over S4,l0o,.
100000 which we have 10 meet in,
charges upon our taxpayers in respect
TO the loans to France" t.E
Americas Limit Clear. -
The Americans felt they could notr
Justify before their public opinion,
the taking of any less than the'- asked
the French to give. just as NJ. Callla uE :
proclaimed that French public opinion
would not permit him 10 offer anFr
better payment terms than those he
finally submitted. Our commissioners
say it will he easy. If il becomeS
necessary. to show the American peC~
Dle that NJ. CaillauX's figures seems
far more impressive than they really =.
are. In other words, the French =,
talked about paying us $4,000 600 600.
| odd of stage money" which has arr
actual value of considerabl less than
two billions of real money. a mem
Der of the United States commission
puts It graphically in these ficures;
The actual 1925 worth of any Sl0e,-
000 900 pledged by the French over
a spread Of 6s years is just about
81 900 900"
The Coolidge administration is in
no fear that it can he successfulN
charged with Shylockian tactics.
| toward the French, either by the ad-
| ministration's domestic political foes
or in France itself. There is boun7f
! to be criticism of the failure to fund ,
the entire debt when Congress dis
| cusses It next Winter. Senator Car
| ter 'ld SS Ol tlISl1lld IL tHlletLtu W
| lead the Democratic attack on tlper
unreadiness of the American commits,
sion TO be more generous to the
French. This former Democratic Sec
retary of the Treasury and financist'
authority Is at his best when de-,
batting money matters and. if he takes,
the firing line, A vigorous opposition
| ,,Ju =,
| Borah Expected to Act.
Senator Borah probably will open.
| up his guns on the French neeotia
| tions. too. when he has had time to-
| figure out exactly how much moreG
! lenient the American commission was
| to France than it was to Great Brft-
! ain. This writer has heard from an
! authoritative quarter that the finals
| offer to France represents in round
| figures an advantage of $500 900 .Gho
| over and above the settlement va
| imposed upon the British in 1928. The :
! difference is mainly in the vastly. low-z
er interest rate offered the French.
/ On one subject the American com
/ missioners were politely silent during
the French negotiations. They mcpe'
! have pointed out that the maximum
| annual payment France was asked 10
make II hardly more than one-third
| Of the amount she annually spends
on defensive armament against a fae~
which. at least for the indefinite fu.
ture, is PROSTATE. 1t was not con-
! sidered courteous to suggest to NJ.
| CaillauX that economy in that direo~
ton would go far toward reducing the,
French debt to America
(Copvrrbt