Show rU S. S fRANGE 1 ARE READY TO i DISCUSS Both Countries Express Willingness Willingness Willingness Wil Wil- I to Take Up Suspension Plans FRENCH INSIST ON CREDIT Reply Declares Any Delay in Payments Great Sacrifice n Or fly Associated Tress run WASHINGTON June 26 A 26 A will trill to discuss the views Jews of ot the French and American governments with the hope of or early earl agreement for lor fora lora a year one suspension of war debt payments was faS expressed today by byboth byboth byboth both nations In making public the French reply to President Hoovers Hoover's proposal Secretary Sec Stimson said the counterproposal counter pro it suggested did not riot accomplish the full measure of ot relief contemplated plated and must be discussed to reconcile recon recon- cUe cile the two viewpoints The the reply as showing howing gratifying ing cordiality and a willingness to forego to-forego forego retention of ot any German payments for a year The question of the method by which this postponement is to be ac accomplished and the ultimate payment of ot the postponed amounts are mattens matters mat mat- tens requiring negotiation and settlement settlement settle settle- ment between different governments governments govern govern- ments he said DISCUSSIONS BEGIN He pointed out that some governments governments govern govern- ments already had acted on the presidents president's presidents president's dents dent's plan and said Amb Ambassador ador Edge and Secretary Mellon were were engaged engaged engaged en en- in discussions with the French government almost with a view to early conclusions The French reply expressed readiness read readi nor ness to place at the disposal of or the thc bank of International settlements a sum equal td its share of the annuity due from Germany with the exception of amounts necessary necessary essary to execution of ot balances of current current cur cur- rent contracts for utilization utilisation in improving improving im im- im proving German credit and other central European countries All necessary precautions should be betaken betaken taken laken the note added to assure that such sums should be used only for economic purposes The reply also said it was considered advisable to contemplate before the expiration of ot the one years year's moratorium an examInation examination exam exam- of measures whereby Ger Ger- Continued on Pace Pase Seven 5 I I I US U.S. IRE ARE READY TO DISCUSS DEBT Continued from Pare Fase one many would ouId resume her reparations payments I ASKS MORE lORE CREDIT The French note not only approved the principle o of the Hoover plan but expressed the thc hope that other measures meas ineas ures may be taken to favor official restoration of credit and confidence In the world The French reply ho however ever op opposed applications of or the moratorium to the unconditional which Germany must pay that nation sayIng say say- big Ing suspension of or these while permitting per mUting that the Young loan dl disposed sed of to the public should continue to tobe tobe tobe be serviced would go direct against a fundamental principle It further held solution of ot the German Ocr Ger man crisis depends not only on diminution of the reich budget charges but on extension of at credit as well The latter already is under official discussion NEW SACRIFICE The note described the proposal as asa asa asa a new sacrifice for France and recalled recalled re reo re- re called that her public debt was four times Umes that of Germany It concluded however with an n expression of willIngness willingness will will- to cooperate with the United ed States in precautionary measures Ina Ina in ina a crisis which is considered grave Secretary Stimson expressed the view that the French proposal appeared to be perfectly compatible with the dominant idea of the thc presidents president's proposal The French note and th the secretary's secre tary's proposal were made public simultaneously h here re by the state department de de- de shortly after the note had been laid before the thc French chamber of deputies for debate The proposal must have hav e the approval of that group Shortly aft after r making public these Secretary stImson called at the White House with Undersecretary Mills of ot the treasury They had nothing nothing noth noth- ing t to say when they left Mills has been taking part In the negotiations through which the Federal Reserve bank of New York will win make a a. short term tenn loan to Germany |