The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1931-06-26
french Stand
IS BARRIER TO
HOOVER Plan
Parliament Will Insist on
Payments by Germany,
Note Announces.
STIMSoN is OPTIMISTIC
Secretary of State Thinks
Differences Can Be
Ironed Out.
By United Press

~ Ontte0 Press
WASHINGTON, June 2e.-Secre-
tary Of State Stimson said today
that accomplishment Of the full
measure Of relief sought by Presi-
dent Hoover's war debt holiday pro-
gram would require modification of
the French suggestions for making
It effective.
Stimson's statement was made
public by the state department, &C
companied by a translation of the
French reply to Mr.. Hoovers pro-
possl. The nature Of the French
answer had been discounted in
Washington in advance and was not
considered fundamentally to have
altered the general air of optimism
among informed officials.
After discussing the French atti-
tude Thursday with Paul Claudet,
French ambassador, Stimson said
he had obtained encouragement and
today he said the evidence Of CO.
operation in the French note "gives
every hope Of success"
SJiu1SOn issues statement
Text Of Stimson's statement was
rs follows:
"The French note shows a graft
flying cordiality to the Presidents
proposal. AS we understand it, the
French government is mainly con-
cerned that there should be no
breach in the integrity of the Young
plan agreement. France expresses
a willingness to forego the reten-
ton Of any German payments for
a year.
The Presidents plan does not
propose a reconsideration or impair
ment of any international agree
ments, including our own debt
agreements. His suggestion extend
ed only to the simple postponement
for one year of the payments under
such agreements.
THE question of the method by
which this postponement is to be
accomplished and the ultimate pay
ment of the postponed amounts are
matters requiring negotiation and
settlement between different govern
ments.
Full Relief Not Given
There are suggestions in the
method proposed by the French
government which do not accom-
plish the full measure of relief to
debtor nations corresponding to the
Presidents plan and must, there
fore, be the subject of further dis
cussion with view to modification
that will bring the full measure Of
accord Of which the fine evidence
of cooperation in the French note
gives every hope of success.
I'm view of the action already
taken by some governments in &C
ceptance of the Presidents plan and
the corresponding suspension of
payments on intergovernmental
debts due July l, Ambassador Edge
and Secretary Mellon are engaged
in these discussions with the French
government, with view to early con-
illusions"
VIII Continue Farley
Stimson explained further nego-
Siation would be necessary and that
Secretary of Treasury Mellon and
Walter E. Edge, American ambas-
sador, were engaged today in. dis
cussions with French officials in
Paris.
The French reply. as expected,
refused to waive the unconditional
; payments due from Germany I'M
der the Young plan, although agree
ing to have them deposited in the
bank for international settlement
and used for credit.
Under reservation Of parliament's
approval" the note said, France is
ready to allow Germany's uncon-
ditional annuity to be made pay
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