WAR DEBTS

Hawera Star, Volume XLV, 26 August 1925, Page 5

WAR DEBTS

REFUNDING AGREEMENT,

NOT YET WORKED OUT

ANC LO-FI? K NOH NEG OTI ATI ONS

BY GABLE--PRESS ASSOCIATION—COPYRIGHT Received Aug. 26, 9.55 a.m. NEW YORK, Aug. 25. Mr Coolidge’s opinion regarding the Be gian debt settlement does not set a precedent, for the refunding agreement has not yet been worked out for France and Italy.—lteuter. -LONDON, Aug. 25. A brilliant, dinner at the French. E,‘ni-b-assy , at which Mr Winston CihurchiU (Chancellor of the British Exchequer) and M. Gaßlaux (French Minister for Finance) sat fence to lace, ended the finsit day Vs discussion on -t he question of the repayment of war debts. The diplomatic correspondent ol the Daily Telegraph siays he understands the proposals -actually mentioned yesterday included the French payment ol £12,006,000 .annually, supplemented by £6,000,000 from receipts under the Dawes reparations scheme-, or, alternatively, the payment of £15,000,000 Out of. France's own resources. The British want as few Dawes marks as possible. The French profess to regard these as being of much higher value than the estimate of the British experts, and seek to reduce France’s own contribution to a minimum. The correspondent stresses the fact that a final settlement is. not to be expected at present. Any agreement will require the endorsement of the respective Cabinets a,ml Parliaments. The ]y»l.itiicia,l correspondent ol the Morning Post isays an -agreement can only be -reached if Mr. Churchill reduces the British minimum from- £20,000,000 to £15,000,000, or M. Oailla-ux advances his maximum ol £10,000,000. It- is quite certain that the I peach Cabinet will not allow M. Ciai 1.1-aux to advance, and the British Treasury is equally adamant about its minimum. It is already dear that a- sat-istootoi y settlement is alii but impossible unless a miracle happen.s. . The Daily Express says M. Cailla-ux is ni£e/fcing British bankers "to-clay 'and wii-ll again confer with Mr. Churchill. T?he Times reviews France’® finances, and expresses the opinion that her capacity for foreign payments are probably well over £50,000,000 -annually. No official statement was issued at the close of yesterday’s meetings, bub M. Oaallia-ux -sa,id the conversations had been extremely cordial.