Evening star., 1931-06-26
Text of French Reply
agrees With Lofty Sentiment of Hoover Proposal,
but Asks Payment Of Unconditional Annaities
to Bank for international Settlements.

ment declares its readiness, subject to
the approval Of Parliament, to place
at the disposal Of the Bank Of Inter-
national Settlements sum equal to
its share for one year Of the nom
postponable aranuity, with the sole ex-
ception of the amounts necessary TO
the execution Of the balances Of the
current contracts Tor payments in kind,
q proceeding which, moreover, Is ad-
Vantageous to German economy.
"In making this proposal, the French
government expects that the other
beneficiaries under the Young plan viii
adopt that same decisions, and 1t even
homes that other measures may be
taken to favor the beneficial restora-
ton of credit and confidence in the
world.
Would Aid European Countries.
1.-THE sums thus turned over to the
Bank Of international Settlements
could be utilized at once for improving
credit in Germany rs well as in coun-
tries of Central Europe, and especially
those in which the suspension Of the
execution of the Young plan during
one year might create financial or
economic disturbance. II goes without
saving that the amounts so employed
would again become available at the
eXOlTAJlOIl Va JAAC RCAA04 Va OAAC yCGA
contemplated as the limit Of the pro-
Yisionai suspension Of the Young plan.
"The French government also be-
lieyes that all necessary precautions
should be taken in order that these
Sums. as well as those TO be derived
from the easing of the budget of Ghe
Reich as q result OF the suspension OF
the Young plan payments for one year,
may only be used for economic pur-
poses, all danger OF financing OF DUMP
ing being eliminated.
template before the expiration OF the
period Of one year an examination OF
measures to be taken by Germany 1or
the resumption Of her payments.
"The proposals Of the French Gov
ernnent and the adjustment, which viii
be suggested by the application OF the
American offer and which will neces-
sarily be the subject Of . subsequent
exchange of views, thus appear to be
perfectly compatible with the dominant
idea Of President Hoover's proposal
Public Debt Differences Cited.
"In placing at the disposal Of the
Bank Of International Settlements, on
the conditions contemplated above, her
part In the unconditional annuity,
France Is deprived. during the suspen-
sion pSr1Ou, Oh WLlhJ IldQ UcCAA AAAOIOCA ~
her on account OF the charges which
she has to meet for the reconstruction
of her devastated regions.
Without wishing to insist on the
difference b:tween the sums which she
has received and the sums which she
should have received, France recalls
that the amount OF hsr public debt Is
about four times that Of the debt OF
the Reich and that her effort at finan-
cial restoration carried ON and accom-
plished by her own means barely four
years ago should not be endangered
THE French government can, there
fore, afflrm the solidarity Of the French
Republic and Of the Republic Of the
United States at the moment when,
faithful to their traditions, the two
countries are cooperating in precau-
tionary measures in q crisis which is
considered grave. They have right to
hope that q response will be made to
their international good will, by respect
for treaties, and by the restoration OF
confidence between peoples. on which
the future of peace depends.
"(SignedD BRAND"