AMERICA AND FRANCE.
THE PAYMENT OF DEBTS. TWO COSTLY WARS. LONDON, October 15. The Minister of Finance (M. Caillaux) announces that the Government is about to make new debt payment proposals to America.
A message from Washington states that the President (Mr. Calvin Coolidge) was to-day informed by Mr." Hamilton Fish (a Republican member of the Foreign Affairs Committee of the House of Representatives) that American bankers will not lend money to foreign Governments against the wishes of the Administration.
Mr. Fish sharply criticised the tentative French debt settlement. He said it was a virtual plea of bankruptcy on the part of France. This was not consistent with a nation which was waging two wars at tremendous cost, nor with the payment of 7 or 8 per cent interest on private bankers' loans, or with France's larsre military appropriations.
The refusal of Franco to ratify the agreement would cause the United States to demand that no more American dollars should be loaned to France until her war debt had been funded. Britain and other European Powers were paying 3k per cent interest, and they might ask for equal terms if a lower interest rate were granted to France.— (A. and N.Z:)
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Auckland Star, Volume LVI, Issue 245, 16 October 1925, Page 7
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201AMERICA AND FRANCE. Auckland Star, Volume LVI, Issue 245, 16 October 1925, Page 7
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