FRANCE’S DEBT TO AMERICA
PLAN FOR REPAYMENT.
A RECIPROCAL ARRANGEMENT
Press Association—By Telegraph-Copyright, WASHINGTON, September 13. (Received Sept. 14, at 0.5 p.m.) Mr Hurley, a member of the Debt Funding Commission, has returned from Paris, where he discussed the problem with French officials. He submitted to Mr A. W. Mellon (Secretary of the Treasury) a plan for a settlement of the French debt to America, informing Mr Mellon that Ire found the French favourable towards it.
The plan basically provides for the payment of the debt within 67 years at the rate of 100,000,000 dollars annually_ with interest, and America agrees to reinvest half the annual payment in French industrial bonds. The total French debt is 5,500,000,000 dollars—A. and N.Z. Cable.
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Otago Daily Times, Issue 19277, 15 September 1924, Page 7
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121FRANCE’S DEBT TO AMERICA Otago Daily Times, Issue 19277, 15 September 1924, Page 7
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