Evening star., 1925-11-07


the other hand, were understood also
to be extremely desirous to prevent
a second failure.
Concerning the fall of the franc and
its consequent complications. the
American Government, it was said on
the highest official authority last
night, can assume no responsibility
although it regrets to see the Difficult.
ties into which France has been
plunged 1t was denied on high au'
thority that the American Govern
ment had officially caused further
pending loans to France to be with
held.
In offering only what Italy, accord
ing to her economic prospects, can
actually pay, 1t is known the visiting
commission has presented figures to
show the heavily increased Italian
fiscal burden. In the year 19131914,
the burden was 2,603 100000 lire, &C
cording to the presentation, while for
the year 192s-1924, the Italian fiscal
burden was 20,050, 100000 lire. This
enormous increase Is further made
significant, 1t is explained, by the fact
that the lira, which before the war
was worth about 20 cents on ex-
change is now somewhere unden
cents.
Further illustrating the Italian
difficulty in paying, they have told
the American Government that di-
rect taxes for the year 1914 were
$40 100000 lire, whereas in 1923-24
they were 5,649,00e lire.
Taxes on business transactions In
Italy increased. the American COM
mission Is told. from 293,O0o,OoO lire
in 1913-14 to 3,042,000,000 in 1924-25.
Might Accept 100000
Informal reports have indicated
that In their efforts to get together,
there have been suggestions made to
the Italians from their own sources
that If they could offer $30,000.0O0 q
year to the Americans this might be
a somewhat middle ground. offering
hope for agreement. In the actual
negotiations, however, it Is under
stood, that neither side has actually
mentioned the s3O,o0o,000 figure.
In some American quarters the pro-
posal has been advanced that the
American commission might, II 1t
finds Italy cannot pay anywhere near
the British basis, obtain at least from
the Italian commission an official rec
ognition of their debt in full, with q
promise to pay what is possible with
in the next few years. 1t has even
been suggested in American quarters
that the Italians sign an agreement
to pay the principal of the debt, with
some interest, with the unwritten un-
derstanding that In case they find pay
ment impossible in the future the mat
ter be reopened. This proposal. how
ever, it is understood, has not been
put forward by the American commits
sion. It was the French demand for
an absolute written agreement similar
to the above. constituting q security
clause, which was one of the reasons
for the disruption of the Franco
American negotiations.
Rumanians Reach City.
The Rumanian Debt Commission.
headed by Nicholas Titulesco, the Ru-
manian Minister at London, arrived
last evening from New York, having
landed from the Aquitania earlier in
the Same day, and was met at the
Union Station here by Charles l..
Cooke, ceremonial officer Of the State
Department, and F. G. Blair of the
Treasury Department, representing
the American Debt Commission.
The commission motored through
the Capitol Grounds and to Ward
man Park Hotel, where they took
up their headquarters. Accompany.
lnS INC ACdo OI the COIIlIIllSSlOn was
his wife, Nine. Titulesco.
other members of the commission
are Eftimie Antonesco, counselor Of
the high court of cessation and JUS
tice; Emile Giuan, director general
Of war reparations; Victor Badulescu
Of the ministry Of finance, Dimitru
Ciotori, attache Of the Rumanian
legation in London; v. Slavesco.
banker. and Savel Radulesco.