BRITAIN AND DEBTORS.

New Zealand Herald, Volume LXII, Issue 19133, 26 September 1925, Page 11

BRITAIN AND DEBTORS.

TREATMENT OF FRANCE. CLAIMS OF OTHER POWERS. 1 CAILUUX AND WASHINGTON. 1 Br Telegraph—Press Association—Copyright, (Received 7.5 p.m.) I A. and N.Z.—Reuter. LONDON. Sept. 25. The diplomatic correspondent of tho i Daily Telepgraph says that since the j provisional debt-funding agreement be- ; twecn the Chancellor of the Exchequer, Mr. Winston Churchill, and the French Minister for Finance, M. Caillaux, was made in London other debtor Powers have submitted claims to receKo from Britain at least as liberal treatment as France. It. can be taken for granted, says tho. correspondent, that all the rest of Britain's debtors will do the same. But if 2| per cent, is accepted in France's case, that will become tho standard of Britain's receipts from all her debtors. The total payments to Britain might in that case be several millions below the annuity she is paying to the United States, A message from Washington states that documents which in effect constituted an order for settlement of tho French debt to America were submitted to the American Debt Commission by M. Caillaux. They met with a certain amount of objection. The commission decided to adjourn until Friday after tine President, Mr. Calvin Coolidge. has consulted tho Cabinet. The character of the documents submitted has not been announced, but I there is no feeling in Treasury circles that an impasse has been reached. FRANCE AND AMERICA.. OFFER FOR SETTLEMENT. ANNOUNCEMENT OF DETAILS. (Received 12.55 a.m.) Keuter. PARIS, Sept. 24. According to Le Matin tho French delegates to tho Washington Debt Commission will offer to incorporate in the principal of tho French, war debt, amounting to 2.933,000,000 dollars, the American war stocks purchased by the French Government for 407.000,000 dollars in 1919 and rcpayablo in 1929. This would bring the total debt to 3,340,000,000 dollars. France will accept the 62 years fixed by Congress for the spreading over oE the payments, and will not ask for a moratorium. She will, however, ask for a suspension of payments in case of necessity. France proposes to pay 25,000,000 dollars a year for the first five years, including the 20,000,000 dollars interest which she is already paying for American war stocks. Thereafter for five years she proposes to pay a fixed annual sum, and from 1946 for the last 42 years on an ascending scale to 80,000,000 dollars a year. It is understood that M. Caillaux is endeavouring to obtain a financial respite for the next 10 years, and a revision of the payments according to France's capacity to pay.