| Show FRANCE MUST HA HAVE VE U S 8 AID TO BUilD BULD UP Hence Debt Debt- Will Debt Will Be Paid to Get Wall Street Loans By GERVILLE RI On of or Or tiro Foremost Journalists U or of France S1 Special Radio Dispatch DI T to The Examiner Standard nl S ht 1926 ted Pre sa on PARIS Oct The 2 2 The Th results remits of Secretary or of o the th Treasury Mellon Mellen's visit to remit r PoincAre last month are re Just beginning to appear appear ap- ap pear To avoid parliamentary debate and troublesome press campaigns In both countries concerning Inter Inter- InterI I allied debts during the th American election the th French government hu has decided to postpone ratification ratification tion until utter after the tho th United States State senatorial cn torl l elections This Thie probably will occur toward th the end of or No November No- No November November vember To balance balanc this concession to the AmericAn Internal situation M Poincare took advantage or of o an n op- op op opportunity In his hi recent Bar Is Ie 1 Due Duc speech to make m k certain reserva- reserva reservations reserva tiona at t which American opinion does not appear to have hv taken um- um umbrage umbrage brice um-brice brage By declaring officially for tor the th fir first at time Ume thatto that France Franco will oll 1 pay onlY to the th extent ot or her ability and within the th limit ot of transfer f 4 M Poincare clearly showed t at he realized he h could not get t the agreement ratified without safety and nd transfer tr n er clauses STILL A PROBLEM 1 Even ETen then ratification seems problematical Against him will willbe bethe be the socialists some ome of ot the tho th radi radI- radIcals radicals radicals cals cals Including Franklin Bouillon who refused to vote for tor ratification ratification tion of ot the th Versailles treaty and most of the th extreme right But At least he h has obtained the th Ameri Amerl- American American his can administrations administration's consent content to reservations even though In so o do- do doIng do leg Ing he h his has gone tone back on the th pre pre- preceding preceding pre ceding French governments government's signs signs- ture tune ture The Th striking fact In Frances France's present situation Is that th t every very turn or of the th road ro d toward reconstruction recon she meets meet Ai Th The policy of ot confidence has bas accomplished ac- ac accomplished ac accomplished nothing but to bring things back b ck to where they the were before the th July panic nothing beyond be- be be beyond yond ond that has bas been accomplished toward monetary restoration reiteration ICY SPEECH Premier Icy speech has haa halted the policy ot or rapprochement rapprochement rapprochement ment with Germany as a the th mobil mobil- mobilizing mobilIzing mobil Izing ot or German railway bonds would require American help which Is not without ratification ot or the thi ci The Th con con- consent consent con content sent tent ot or the th agent general for tor rep rep- rep reparations l r Parker Gilbert also Is necessary The Th ministry has haa desired to ef at- at et feet economies but Instead of en en- en encouraging cn production thereby In In In- In Increasing creasing Its taxable capacity It has haa tended to paralyze Industry by unjustified credit restrictions and anda anda anda a policy p llcy t i high loney coney It has aroused the deputies animosity by and administrative reform re- re reforms re reforms forms form forms cessation ot or railway con con- construction construction construction and suppression of ot port subsidies without any great advantage tILe tage to the th budget Furthermore the Ule Bank ot or Frances France's France gold cold pur pur- purchases pur- pur purchases purchases chases from citizens are ar producing ridiculously small amounts barely a few h indred thousand dollars Fh ally In his latest speech M r Poincare did not even mention the monetary stabilization a ai at 1 proposed by th the experts committee namely by the th ratification of ot debts and the contracting ot or foreign credits He seems Beem also to have hav rejected the Belgian finance ministers minister proposals proposals eats to stabilize the th French cur cur- currency currency cur currency rency on a parallel with Belgian money MANY PROBLEMS IS With his refusal to accept any modification of or administrative reforms re- re reforms re reforms forms It ft looks as a If it II DL L Poincare would be b happy It Ir parliament over over- overthrew overthrew overthrew threw him bin on the th economy pro pro- program pro pro-Kram tram gram Thus he h might ml ht reorganize the cabinet relinquishing his vex vex- vexatious vex vexatious portfolio for tor il M Briand pine He H does not real real- realIze realize Iz Ize what formidable opposition his foreign policy would arouse arous In the chamber which was as elected as a a against his Ruhr Rube policy polley and which overwhelmingly ap- ap approves approves ap approve proves prove M Bri nd's co ITS se at Geneva As France r nce readily agreed to Im- Im Immolate immolate her national prestige at Geneva she sho certainly will m not al- al allow allow al allow low It to be b reborn In new form at Paris either cither In Internal or exter exter- external external external nal affairs lre affair |
