Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1925-10-02
TENTATIVE DEAL,
(Cnnkinuad frnna Paaa nnaA

had laid down the first French pro-
posal for funding their governments
four billion dollar war debt, they de-
parted for Paris, taking with them
a document intended only to fill the
gap sufficiently to assure continuity
of negotia tions-even at long range.
The arrangement. proposed by the
American debt commission as a fipal
move to overcome what appepated
to be insurmountabie difficulties,
would have France pay an annuity
of s40,000,0 900 year for five years
J and would enable the two govern
ments to continue consideration of a
final program of settlement to use
coed the temporary pact at its ex-
'piration. Further 1t comedies that
the annuity thus paid shall sbe
in lieu of interest during the time
it shall run.
NJ. Caillaux gave American COM
missioners the hope that he believed
the French government would ac-
cept the agreement. He declined to
as he had been entrusted by his gov
settlement and he questioned his
own right to act on provisional
character.
Mr.. Caillaux's last message to the
commissioners said: THE minister
of finance can do no more than to
submit to his colleagues of the
French cabinet in Paris the propo-
sitions which you have made today.
and he will do his utmost to give
an answer as soon as possible"
It was after making that state
ment that NJ. Caillaux and his as
sistants marched in single file from
the meeting and the end of the con-
versations between the two commits
sions had come.
M. Caillaux was unhappy that
permanent arrangement was not
reached. Secretary Mellon, too,
was disappointed, but he, neverthe-
less. regarded the results as a step
forward and he felt that a better
tions had been developed.
But observers and even members
of the American commission, held
varied opinions as to the tangible
results of the seven days conference.
Disa appointment and dissatisfaction
predominated in some quarters that
the Americans had been unable to do
more; in others the prevailing senti-
ment was that France can do better
in the way of terms five years hence
than her representatives felt able to
do at this time.
Among all of those directly DON
cerned with the negotiations, how
ever, there was a noticeable sense of
relief at their conclusion.
While members of both chm
missions had views as the causes, for
the stop-gap arrangement finally re-
sulting from the conferences, it was
agreed generally that Secretary Mel
Ion had stated the problem succihct-
~ in the last memorandum read to
the French.
1--WE believe 1t fully recognized,' he
said, that the only basis of negotia-
tions fair to both peoples is the rtin-
ciple of the capacity of Frence to pay.
THE hub of the difficulty of the two
commissions arises from a difference
in judgment as to the future, of
France to pay without - under
mining her economic and social fabric,
and this difficulty narrows itself to the
future rather than the present, for we
are prepared to accept the French
commissions views as to the imndedi-
ate difficulties of France"
The last days of the conversations
brought Vigorous although vain efforts,
evident even to casual observers, on
the part of the two commissions to get
together.
Chairman Mellon and four Of the
American commissioners sought the
advice of the president earlier in, the
day and then told the French they
could not accept the offer made yester-
day providing a series of lump sum
payments spread over so years sand
returning total of $6,220, 000,000 to
he American trea SHY