Word: caillaux
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...weeks ago M. Caillaux came, last week he went, and all he achieved by his coming and his going was to settle that the French War Debt to the U. S. should be left unsettled...
...Negotiations. The history of the attempts to reach a final debt accord is simple: a French proposal, an American counterproposal, a second French proposal-all rejected. Then as M. Caillaux was about to depart the Americans made an offer for a tentative arrangement, which M. Caillaux said he would take home and think over...
Proposal No. 1. M. Caillaux's first offer called for payments in general as follows: $25,000,000 a year for five years; $30,000,000 a year for the next five years; $60,000,000 a year for the next ten years; $90,000,000 a year for 42 years-then the extinction of the debt. One might calculate what part of these payments was to be principal, what part interest, as one chooses. The principal of the French debt is $3,340,000,000, and with interest already accrued, the debt amounts...
Proposal No. 4 (tentative). By this time the last day of the conference had been reached, and M. Caillaux's ship was sailing in only a few hours. The Americans then came forward with a tentative -ffer. Let the French acknowledge the principal of the debt and pay $40,000,000 a year for five years, which the U.S. would agree to consider as full discharge of all interest during that period. At the end of that period let a new conference be held...
...arrival of the French financial mission headed by Mr. Caillaux (see Page 6) has been the occasion of renewed anticipations of heavy foreign borrowing this winter, which has been held in check by the debt funding...