AMERICAN OFFER
FRENCH WAR DEBT SUBSTANTIAL CUT PRO- ■ POSED CONDITIONS IMPOSED (United Press Assn.—Telegraph Copyright.) (Rec. 7 p.m.) London, May 10. The Paris correspondent of the Daily Mail states that America has tentatively offered to fund the French war debt at £300,000,000 instead of £800,000,000 arranged for in the Mellon-Berenger agreement of 1926. It is proposed that £72,000,000 in gold and' £12,000,000 in silver be paid immediately and the remainder in instalments to the Bank of International Settlements. The proposal is certain to be rejected, as it is emphasized that the maximum amount recoverable from Germany under the Lausanne agreement is £108,000,000, which France is willing to pay America when it is received, but not a pound more than is received. Though M. Herriot is urging the payment of the December instalment Cabinet will refuse until a moratorium for the June payment is assured. It will also decline any payment in gold.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/ST19330511.2.41
Bibliographic details
Southland Times, Issue 22012, 11 May 1933, Page 7
Word Count
152AMERICAN OFFER Southland Times, Issue 22012, 11 May 1933, Page 7
Using This Item
Stuff Ltd is the copyright owner for the Southland Times. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.