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Show ITALY WILL PAY HER DEBTS SOON FUNDING AGREEMENT WILL GET BEFORE CONGRESS IS THE BELIEF NOW Italian And American Officials Will Meet And Make Arrangements For Closing Up Accounts To Date Washington An agreement fund-triK fund-triK the $2.i:i!),00ii,lJlH) Italian debt will be ri-ady for submission when coo-,n-H meets, arc:firlluK to the plans of both thi! American and Italian ne-fdl.ialorH. ne-fdl.ialorH. Cln the eve of the opening of formal negotiations, representatives of holh governments are opt lmislic of arriving at a mutually satisfactory I underHtuiidliiK- Cioi-omo Dfi Marllno. Italian ambassador, am-bassador, and Mario Albert!, general manager of the creditor Ualiano, will meet with Secretary of the Treasurer Mellon, chairman of the American d ht commission anil Secretary of Hialn Kellogg ami Senator SiuoOt of i:tah, members. 'I'liD suhstance of the Italian view, it was learned authoritatively will he as follows: First, Italy recognizes the debt amounting to $1,048,0(10.000 in principal prin-cipal and $i:il,()O0,000 in accrued and unpaid Interest. Second. Italy declares her readiness to settle this debt In accordance with her capacity to pay. The American representatives will neck a settlement conforming in principle prin-ciple to the agreement covering the Itritish debt of $-1,0(10,000,000. The Italians, it is expected, will recognize tilt) principle of the British agreement agree-ment as acceptable, hut will ask certain cer-tain deferment of payments conforming conform-ing with their national necessities at home. The preparation of an official offi-cial schedule of payments thus will become the crux of the negotiations. Preliminary phases of the negotiations negotia-tions were discussed between Secretary Secre-tary Mellon, Secretary Kellogg and i Senator Smoot. |