"PAY FIRST."
FRENCH SEEK AMERICAN LOAN. U.S.A. PRESS ATTITUDE. (bi cable—raess ASSOCIATION—COPTBIGHT) • C'IHK TIMES.") IvON.DON. July S. The Washington correspondent ot "Tlio Times'' says that "Debt settlement must precede any loan" will be America's reply to tho French proposal to float a largo reconstruction loan in tho United States.
No surprise is felt that France should desire such a loan. It has long been foreseen that the only way of emergence from the difficulties under which the French Government is struggling would be recourse to foreign and.notably American aid, but it is emphasised that only such settlement of the French debt as would clearly prove French goodwill, and such a balancing of tho Budget as would demonstrato tho French people's determination to shoulder their burdens, could rehabilitate French credit sufficiently to permit an appeal to tho American investor.
In other words. where France might arguo that only if a loan was granted could a settlement of the debt be reached, the American attitude would be insistence that the loan should, not be the first, but the third in the series of adjustments indicated.
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Bibliographic details
Press, Volume LXI, Issue 18430, 10 July 1925, Page 9
Word Count
183"PAY FIRST." Press, Volume LXI, Issue 18430, 10 July 1925, Page 9
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