FRENCH WAR DEBTS

Hokitika Guardian, 26 August 1925, Page 2

FRENCH WAR DEBTS

[Australia & N.Z. Cable Association.] LONDON, August 24. No official statement was issued at the close of to-day’s meetings between Mr Churchill and M. Caillaux (French Finance .Minister). The latter said the conversation had been extremely cordial. LONDON, August 24. There was a brilliant dinner at tho French Embassy, at which Mr Churchill and M. Caillaux sat face to face. This ended the first day’s debt discussions. The “ Daily Telegraph’s” diplomatic correspondent says he understands that the proposals actually mentioned yesterday included a French payment of 12 millions sterling annually to Britain. supplemented by six millions from tne Dawes receipts; or, alternatively, the payment of fifteen millions out of France’s own resources. The British want as few of the Dawes Plan marks as possible. The French profess to regard these much higher than the British experts, and they seek to reduce France’s own contribution to a minimum. Tho correspondent stresses tho point that a final settlement cannot be expected at present. Any agreement will require the endorsement of the respective Cabinets and Parliaments. The “ Morning Post’s” political correspondent says that an agreement ran only be reached if Mr Churchill reduces the British minimum from 20 millions to 15 millions, or if M. Caillaux advances his maximum of ten millions. It is quite certain that tho French Cabinet will not allow M. Caillaux to advance it. The British Treasure is equally adamant about a minimum. It is already clear that satisfactory settlement is all but impossible, unless a miracle happens. The “Daily Express” says: M. Caillaux is meeting British bankers to-day, and is again conferring with Air Churchill. The “ Times ” reviews France’s finance. and expresses the opinion that her capacity for foreign payments is probably well over fifty millions annually.