Salt Lake Telegram | 1925-10-29 | Page 3 | Debt to U. S. Blocks Trade

DEBT MS T U. U 1 S. S 1 Bl TRADE French rent Settlement Held e Obstacle stac e CHICAGO Oct 29 AP AP-Ad- AP Ad Adjustment of ot the debt of ot France to the United States is the chief obstacle ob obstacle ob- ob stacle to restoration of oC world trade and industrial machinery to normal normal normal nor nor- mal functions A serious Impairment Impairment impairment Impair Impair- ment of French Trench credit would Injure Germany Italy a- a and England and c any gr great t calamity to Europe would I Injure the United States f Rut Rufus us C C. C Dawes who was chief I of oC the American section of the committe commute pf pC experts of oC the reparations I commission which formulated I stated today In Inan inan the Dawes plan so 80 1 an ani address adress on the settlement of oC oft t Frances France's indebtedness to the tho United States before the Robert Morris associates as- as I I a II group of American credit bankers I I The prompt by the I II I United States said Dawes of oC the offer otter of oC France to pay Day over a period 1 of ot sixty-eight sixty years yearn an aggregate of ot I about six billion dollars principal I debt of oC about and anel Interest upon a three and a II third billion dollars would have removed the last ob obstacle obstacle obstacle ob- ob I stacle the world recovery I Ilet To have rejected this offer to let tho the Caillaux delegation return I Ito to France and report that another year five period of oC political contro contro- ersy and wrangling must be en ri before a a. definite settlement may prove to be an international calamity Examining the financial condi conditions In France Dawes pointed out out that payment in full by Germany ny of oC her indemnities would not rev re- reImburse France for tor the rebuilding of oC her devastated areas taxes on Incomes of oJ 20 per cent or ur r more in France as compared wit wil 11 2 1 per cent in this country one on wonders at nt their courage in assuming assumIng assum ing Ing the obligation of ot even 1003 annually while Dawes bee be It would surely require more rn re than human wisdom to assert now that during the next sixty-eight sixty 1 years France could raise and punt to o pay the sum of ot annually J t