WAR DEBTS.

Hokitika Guardian, 3 January 1925, Page 3

WAR DEBTS.

FRANCE’S OBLIGATIONS. tUBTIULIAN AMP N.Z. CARLE ASSOCIATION WASHINGTON, December 30. President Coolidge has drawn no hasty conclusions from the French war debt developments, and sees no occasion for action on the basis of present advices. file I resident is watching the situation closely for any indication of a move by the French Government to repudiate its obligations for it might influence the attitude of the White House. President Coolidge has strong opinions on the flotation of private French loans in the United States. While there are no Federal restrictions over loans which foreign Governments seek to place, the advice of Washington is usually sought and usually followed. LONDON, January 1. In connexion with Mr Norman’s visit to America, a good deal of speculation has Let’ll aroused, although it is said to ha. no official significance. The ” Daily Chronicle” says that whatever was the explanation, it is interesting to note the Cabinet has been summoned for Mondnv, in suite of the laet that many Ministers are away for vacation. The “ Daily Telegraph ” discussing Allied fiiftfnco generally, says it is regarded as extraordinary that the generosity of Mr Churchill's debt proposals has not been recognised by the Allies, and that no French statesman has thought lit «tn enlighten French opinion regarding the burden the British taxpayer is hearing in consequence of the money loaned to our Allies. The ” Financial News” says most probably the object of the visit of Mr Montagu Norman, Governor of the Rank of England, to America, will lie Io enter into negotiations with the Federal Reserve Board concerning the

arrangements necessary in consequence of the recent imorovement in the internatinnj financial situation. The problem of the coming redistribution qf gold concerns both countries. The restoration of the gold standard here is believed likely during 1925. therefore some arrangements must he reacli- , between the Bank of Fnglaiid and the Board. PARIS. December Ml. M. elemental, receiving the AngloAie.'iicaii Press t"‘prcsent:itivcs. reiterated that France had not the slightest intention of repudiating tier delftn 1,, c;real Britain and America, hut was of (he upilii a Iha t Ihe principle of f In’ capacity to nay, applied in the case of Germany, should also he applied to Allied debtors. He favoured a general settlement ol Allied debts on the lines of the Hawes scheme, hut without such control as was inmosed on Germany. because

there was no reason for it in the case of a debtor who was not refractory. M. Herriot had a lengthy conference with the United States Ambassador. ,lt is reported that the subject of discussion was inter-AUied debts.