The Government has again circularized our European debtors (except presumably
the largest, Russia), giving them a mild reminder in the form of a request to name a date for negotiations about settlement. In regard to the French debt of over £600,000,000, it • will be remembered that M. Clemente' had initiated negotiations between the two Treasuries which were brought to an end by his resignation and the subsequent fall of M. Herriot's Government. The chief debtor countries seem really ready to discuss the sum of their debts and the manner of dealing with them. At the celebrations of Independence Day in Paris M. Painleve and M. Briand spoke of France's desire to negotiate over her debts to the United States and announced that a delegation would shortly leave Paris for Washington to begin discussions. The Italian Ambassadors in London and Washington have also had instructions to open the question of Italy's debts with the Governments to which they are accredited, and a Belgian mission has arranged to leave for Washing- ton before the end of the month.
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