Evening star., 1931-06-23
COOPERATION, NOT
FORCE, AIM OF u. S.
Effort Being Made to Show
France Debt Plan Was
Not Cooked Up"
CONTINUED From First Page.l

(Continued From First Page.)
consider such step entirely apart from
the Hoover debt plan.
Mills also conferred with Emmanuel
Monick, financial attache of the French
embassy, over figures involved in the
debt moratorium.
At the undersecretarys' request Mo-
nick has cabled his government 1or
Young plan data, particularly with REL
erence to the amount OF unconditional
payments that would be postponed by
moratorium.
Monick brought Mills no word from
the French government. Mills SAID
any announcement from France would
be made to Secretary Stimson by Am
basSador Claudel.
Mills was in constant conferences
during the day with various Treasury
experts, other governmental officials
and foreign diplomatic representatives.
Awaiting French Reply.
In the meantime however, the ad.
ministratio mis- awaiting the answer OF
the French government to the proposal
with the keenest interest. President
Hoover made it clear that his proposal
can be carried into effect only If all
the nations involved join wholly In the
plan.
From Paris came the report early
that the French Cabinet had considered
the Hoover proposal at its meeting to-
day. but had come to no tinal conciu-
sion thereon and had adjourned to
meet again tomorrow. Alternative pro-
posals were advanced in the meeting
of the French cabinet, it was reported,
but Just what these proposals were has
not been revealed. Apparently none
of them has been agreed upon, and the
administration is hopeful that when the
cabinet does come to a conclusion II
will be to accept the American pro-
posal.
Acceptance Indicated.
It is realized here that on the de-
cision of the French hinges, in reality,
the success or non-succeSS OF the plan
put forward by the President None
of the other nations involved is nKeiy
In any way to block the plan, and al
ready the governments of Great Brit
ain. France, Austria, Germany and
other nations have indicated through
their representatives either in Washing
ton or in their own capitals that the
plan is acceptable.
stimsOn to Outline Policy.
The American Government, through
Secretary of State Stimson, has sought
TO impress upon the world the need
of speed in acceptance Of the plan, II
the psychological benefit expected Is to
be derived. Any effort to haggle over
terms, thus bringing about delay, Will
be injurious to the plan as a whole.
Already the markets of the world have
responded surprisingly to the stimulus
of the Presidents announcement OF
the plan. Delay by the French cabinet
nF
is realized here that the matter is one
of great importance to France and
that the government of that country
must weigh the proposal carefully.
Secretary Stimson will deliver to-
night at 10 o'clock eastern standard
time) an address over the Nationwide
networks of the National Broadcast
ing co. and the Columbia Broadcasting
Co. on the need for the intergovern-
mental debt suspension as proposed by
President Hoover. His address Will be
concluded at 10:15 O'Clock.
Mr.. Stimson in his address will dis
cuss the critical financial situation in
Germany and other reasons back OF
President Hoover's proposal for the sus-
pension Of the debt and reparatlons
payments. He remained at his desk this
morning, working on the speech he Is
to deliver tonight instead OF attending
the meeting of the cabinet.
No information was forthcoming from
the State Department as to when the
formal replies of the nations TO the
Presidents proposal would be made pub
lie or, indeed, if any of them had been
received. 1t is possible that these re-
plies will be made public abroad, or II
they are made public here they VIII be
released all at once.
The Presidents plan to suspend the
debt and reparation payments for one
year, however. has received the ap-
proval of four of the governments most
deeply involved, Great Britain, Italy
Austria and Germany. Belgium has
asked for further information regarding
the Presidents proposal.
Payment Conditional.
After proposing one-year suspension
of war debt payments to the United
States the Chief Executive said this
was conditional upon like postpone
ment for one year of all payments on
1ntergovernmental debts owing the I'M
portant creditor powers"
During the period OF the proposed
moratorium, Belgium would receive from
Germany $24, 100000 in reparations and
pay to the United States 100000 on
her war debt. Like France the country
receives an excess of reparations over
war debt payments to finance recon-
war.
Belgium reparations receipts next year
compare with $199, 100000 payable to
France, $50, 200 900 to Great Britain and
$45,5oo,o0o to Italy.
France Largest Beneficiary.
France, as one of the biggest suffer-
ers in the World War, Is the largest
beneficiary through reconstruction pay
ments, which are part of the German
reparationS and claSsed as "uncondi-
=, tional" under the Young plan. The
rest of the German reparations are
''conditionap and subject to a mora
torium If Germany declares herself un-
able to pay. It Is to the suspension
opposition in France is likely to arise
particularly, it is said. However, the
Presidents plan calls for suspension of
all these payments for a year.
The President today received letter
from Representative Andersen of Min
nesota, Republican, in which Mr.. An
dreSen proposed that this country dis
to the countries which owe America
debts, as return for suspending the
debts.
In his letter the Minnesota Repre-
sentative suggested that the Farm
Board sell wheat now held by its
agencies TO Germany, france, Italy
and Great Britain at the market price,
and that interest payments due from
these countries on their debts to this
country be suspended for 10 years. He
commended the Presidents plan for a
suspension of debt payments.
DEBT PLAN ATTITUDE
OF GREECE UNDECIDED