Show ASSURANCES BY I FRANCE RESULT Of WEEKS WEEK'S TALK Resolution Against Private Private r vate Loans to Nations J. J Failing to Refund Obligations Obligations V May Be Outi Outcome Outcome Out- Out i come of Agit Agitation tion Ii By fly LUDWELL DENNY WASHINGTON Dec 31 BYI By j U. U. U P. P More P.-More More diplomatic assurances assur- assur I assur-I ances from France that she means I i I i. i to pay her debt to I t the United States rather th n a definite definite refunding agreement or are expected to be the I. I J v result of a weeks week's effort by I administration spokesmen to get I action from France 1 While the conflict between the theU U two governments is regarded In I f diplomatic circles here In the naj nature na- na j ture ure of ot a tempest in a teapot the I utter divergence of public opinion Inthe In the two countries on th the debt I question and the mutual distrust It this engenders 11 has s caused serious I If 1 1 c An attempt by France rance to force torce T it l reduction of ot the debt through a tili pooling of debts as suggested suggested sug sug- jested b by Finance Minister Cleo Cle- Cle o is expected to Increase hostile sentiment in this country This his attempt will be made at the thel l opening penIng pe of oC the ves Dawes plan financial I conference in Paris on January Januar 6 and at subsequent meetings with ithe L the tacit support of Great Britain it is said CAN CAN ATTACK LOANS s. s This This government go is powerless to force France to recognize the full c debt except possibly by the ex extreme extreme ex- ex f measure of officially discouraging discouraging discouraging dis dis- dis- dis private loans and credits Introduction of a resolution in senate expressing that body's opposition to further loans by American bankers to foreign na na- na I lions who have ha not refunded their f Wartime obligations to this country countr as vas discussed in so some e quarters II oda today I Diplomatic measures were long c Ago exhausted and the recent neI nethe ne- ne I ti ns with Ambassador nd nd were vere as lackIng in concrete 1 a aR smilar negotiations dur- dur I it the last three years OFFERED MORATORIUM I If f This government Is read ready to I grant France Flance a paper settlement W. W ithe the form of a long term funding I if c arrangement with a 1 moratorium V on capital and interest for several I II I years ears Since France under such i Jm an n arrangement would not have to I pay t ay a cent for a number of years ears Mho administration a cannot understand under under- under I 1 stand her unwillingness unwillingness- to accept t a solution J Unofficially Important m members t of Ot the debt funding commission go goIl JH Il even en farther r. r They say if France t cannot pay at the end of ten or twelve welve wel years rears or it if it Is then un- un vIe for tor us because of or economic nd foreign trade considerations to Insist on full run payment we can discuss debt reduction then J Despite the contention of certain i leaders that the French rench debt will never be paid In inthey L n they realize that opinion in n I and among the taxpayers 4 it so hostile to reduction that such i I r i solution is Impossible at this this' r time TREASONS REASONS OUTLINED e Popular opposition to reduction is based on the following reason- reason n n Vl 1 OVer Oter of the tho debt ff 10 incurred after the war while f rafice ance ce has has- been making military I 1 l Joans ns to her eastern European allies lj h and nd maintaining a huge military es establishment of or her own I Tt t 2 While Great Britain and the the l United States have been taxing I I r themselves t h heavily to pay for the W fW j i r. r taxes in France have been 4 4 1 i relatively low II I p L 3 l the French govern govern- l. l nt i is i. under a financial strain and n the French franc at a heavy discount the economic resources of oft t Frence Frenc ai are are greater than those of or S other European countries and sufI sufficient suf suf- I for payment of the debt lit 4 Debt in repudiation any form formis is a a. bolshevist measure and disastrous I trous in its effect upon future futureS I S credits I I w 4 Ii tJ Reduction in the French debt means reduction of Great Britain's I fl to us in the long run |