New Britain herald., 1926-04-24

Washington, April @4 lP -- The process of clearing up the huge war debts owed to the United States showed considerable progress today with new French funding proposal formally in the hands of the Ameri- can debt commission, the Italian set clement finally approved by congress, and the agreement with Belgium before the senate for ratification.
 Awaits Presidents Signature
 The Italian agreement, approval Of which was bitterly contested throughout it's consideration by the senate, awaited only the signature of President Coolidge to become eifec- tive. It was ratified Wednesday by d vote of 54 to 35, and this decision was confirmed yesterday with the re- lection, A3 to 4, Of 6. motion for reconsideration by Senator Reed. democrat, Missouri.
 New French Proposals
 The new French proposal, lacking q "sat guard" clause linking pay luentS with German rrparations. was laid before the American colninis- son yesterday by Ambassador Der .Eger with little ceremony, and h. .iina.ions were that Q decision might ue expected without delay.
 No indication of its terms has been giyrr acr", but ti,n foreign af- fairs rommtlen of the French cham ber oG deputies ;tas been informed tl,ut t would run for C. years, in- cad of GS SIS proposed by Minist"r 'aillauX last summer, and that pay mcnts would guarantee from s.i,- .00. GOO iu S1N0.0N0, 900 year.
 Vigorous Opposition
 Auscncc of 2. "sai'nguaru' clause. .nlauWhilc, has aroused vigorous op- position on the part Of some Men- )era of the French committee. While a majority fayors approval Of all agreement along the lines indicated --- presumably mapped out during the recent informal discussions be- tween Secretary Mellon and Ambas- salor Bcrcngcr---a group of irr"con- cilaplrs headed by Chairman Bouil- lon of the committee, contends that i. is unacceptable without the safe guard" provisions.
 Pr( micr Briand told the commit ae it was necessary 10 reach an agreement "at all costs" even though it must not be expected that the safeguard clause will be maintained h it's entirety
 Terms For Belgium
 The Belgian debt settlement, which came before the senate with final disposition of the Italian agree mcnt, gives different treatment to that nations pre-armistice and post armiStiCc borrowings. The former amounting to s171, ,7S0,0 is bcliev- od of all interest while the latter fixed at $246, 100000, will bear " F per cent after the first 10 years, dur ing which the rate will be smaller. The payments, altogether, will grad udlt lTOIn Do, SH",VuO tO 3I-'o -''VN and will extend over GG years.
 Reed Leads Opposition
 Senator Reeds fight for reconsid- ,ration Of the Italian agreement cen rared on a demand for amendment 10 require the Rome government to furnish bonds, upon demand. to GOV CT the principal and interest pay ments. He described the pact as the ''greatest steal in all history" and as~ serted that the people would repu- iiatc if when they came to under stand i's terms.
 "Thc administration Of Calvin ( 'oolidge," he charged. lis as much owned and controlled by [ great interests as a subordinate of any bank is owned and controlled by the board Of directors.
 IoldiiN that the "great interests 'io not stand outside any more; they nave moved in and taken possession lf the government" he reiterated , harges that Secretary Mellon was appointed because of his ncnppaiinnc