FINANCES OF FRANCE.

New Zealand Herald, Volume LXI, Issue 18889, 11 December 1924, Page 9

FINANCES OF FRANCE.

THE DEBT TO AMERICA. EASIER TERMS SOUGHT. ' /"-:■■ LONDON. Nov. 29. The Times understands that the French 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, "Why should France have better debtrefunding 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 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. Jusserand, the French Ambassador, who wishes to cap his diplomatic career with 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 per cent. The Times says that the French Government intend to send a new commission to Washington under the chairmanship of the eminent financial expert, M. Jean Parmentier, to discuss the war debt question with the American Debt. Funding Commission.