AMERICA'S DEBTORS.

Waikato Times, Volume 100, Issue 16780, 24 April 1926, Page 7

AMERICA'S DEBTORS.

SETTLEMENT SCHEMES FRENCH PROPOSALS. PAYMENTS TO AMERICA. (Reuter.) WASHINGTON, April 22. Negotiations lor funding the French war debt will probably be taken up formally by Ihe Debt Commission lomorrow. according lo Mr A. W. Mellon, Secretary lo Treasury, who announced to-day that an understanding has been virtually reached over Ihe question after a conference with the Ambassador, M. Berengcr. The Kalian debt arrangement has been ratified by the House and approved by the Senate, but has not been sent lo the President for signature pending a move to have it reconsidered by the Senate. PARIS, April 22.

Official confirmation is given to the report that M, Berengcr and Mr Mellon have practically agreed lo a formula for a settlement of the French debt lo America for submission to the Debt Commission.

This provides for payment of the debt lo be spread over 02 years. The annual payments for the first live years are to be small. After that they arc gradually to increase. It is provided that in the event of a decrease in German reparation payments Ihe capacity of France to pay shall be subject to a fresh estimate.

LATER. FRENCH PROPOSAL. OFFER. OP .'1,000,000,000 DOLLARS. (Received April 2i, 11.30 a.m.) WASHINGTON, April 23. France to-day submit led a new offer for tin', settlement of her war debt to V.±c United Slates amounting lo four thousand million dollars. The proposition covering l!ic suggested settlement of the French war debt is being examined by experls. ITALIAN ARRANGEMENT. SENATE WILL NOT RE-CONSIDER. Received April 24. 12.55 p.m. WASHINGTON, April 23. The Senate refused to re-consider its approval of the Italian war debt settlement, arrangement, thus completing congressional action on the agreement which, will come into force when President Coolidgc signs.