FRENCH DEBT TO BRITAIN.

Auckland Star, Volume LVI, Issue 180, 1 August 1925, Page 9

FRENCH DEBT TO BRITAIN.

A TOTAL OF £600,000,000.

AN INADEQUATE OFFER.

LONDON, July 31

The '"Daily . Telegraph" .reports tha,t the French war debt broke down, yesterday.- The British Treasury regarded the oiler made by France as inadequate. The offer in question- represented an annual payment of..l'per cent on France's war debt" of £1)00,000,000 to Britain, whereas Britain funded her debt to America on a basis of '.i,\ per cent. • France is still labouring under the delusion, remarks the paper, that Britain does not need the money, but is merely asking for it on political grounds. France is now enjoying a favourable trade balance which should enable her to make a fair oiler and effect the necessary transfers. The- diplomatic correspodent of the "Telegraph" says that the* negoiations broke down because the Britisli Treasury deemed the offer (although it was an improvement compared with previous offers) so inadequate as not to warrant serious consideration from the standpoint of the British taxpayer. Tlie French delegation left for Paris again yesterday to report to M. Caillaux (French Minister of Finance). — (A. and N.Z. Cable.) BEGINNING TO UNDERSTAND. M. CAILLAUX'S STATEMENT. (Received 12.30 p.m.) PARIS, July 31. At a meeting of the Cabinet. M. Caillaux made a statement iri regard to the Anglo-French debt negotiations with London. M. Caillaux said that, although there was a noticeable difference between the British and . French viewpoints, tho beginning of an understanding was already achieved. — (A. and X.Z. Cable.)