“FAIR AND JUST SETTLEMENT.”

Timaru Herald, Volume CXXIII, 3 May 1926, Page 9

“FAIR AND JUST SETTLEMENT.”

French War Debt Payments PRESIDENT CCiOLIDGE’S OPINION. By Cable —Press Association—Copyright. Australian and N.Z. Cable Association. (Received May 2. 5.5 p.m.) WASHINGTON, April 30. The French 'War Debt settlement, transmitted by President Coolidge to Congress on Friday last, met with immediate opposition in the Senate, where a, number of Senators made demands that the Finance Committee should make a thorough-going inves*!gatioon into all the acts of the American Debt Commission. Senator Borah declared that France is the most prosperous nation in Europe. She has been prosperous for the last three years. “If we cannot collect more than fifty cents on the dollar,” lie added, “it is because. French citizens are unwilling to pay raxes commensurate with the obligations placed upon them. In transmitting the debt settleincut President Coolidge said: “The •settlement upon terms .set forth in the agreement is fair and just to botii nations.”

THE DECLINING FRANC. THE LOW LEVEL RECORD. By Cable—Press Association—Copyrlibt Australian and N.Z. Coble Association. NEW YORK, April 30. Despite flic agreement reached at Washington to fund tile French debt, francs continued to-day to hover around the record low level, dealings being made at 3.28 cents, whi'ie a sympathetic reaction carried the Belgian francs down to the new minimum price for the year—3.36.

French bonds, however, reflected the favourable response of the settlement.