FINANCES OF FRANCE.

Hawera Star, Volume XLVIII, 27 December 1924, Page 7

FINANCES OF FRANCE.

THE DEBT TO AMERICA

EASIER 1 TERMS SOUGHT.

.LONDON, Nov. 29. T'he Times understands that the French i Government has approached Washington with regard to the French debt to- the United States. The French object is to obtain better payment conditions than those which were accorded Britain under the Baldwin agreement of 1922, They desire not only a reduction, of interest, but also concessions in the repayment of the capital. A message from Washington states that the question is being asked there, “Wily should France have better debt-refunding terms than Britain?”

Members of the commission who favour a lower interest: rate for France, are claiming that they have the support of President Coolidge; who thinks that France is harder pressed for money than Britain, and should v therefore get easier terms. In the meantime, the White House has issued no statement regarding the matter. The commission has authorised the Secretary of the Treasury, Mr. Mellon, to negotiate a tentative agreement with M. Jusseraud, the French Ambassador, wlio wishes to cap his diplomatic career with s a settlement of the problem. He wants an extension of payment over 80 years—instead of 62 as provided in the British settlement—with 2£ per cent, for the first period, and later 3 percent. - ■'

The Times says that the French Government intend to send a new commission to Washington under the chairmanship of the eminent fiaucial expert. M. Jean Parmentier, to discuss the Avar debt question with the American Debt Funding Commission.