Debt Bubble

In Washington, the World War Debt Funding Commission started to discuss the French War Debt to the U. S., which amounts to more than $4,000,000,000.

In Paris, Premier Herriot thought the whole affair was taking on a too serious complexion, so he issued a statement:

"The talks which have taken place in the last few days between the French Ambassador to Washington and the American Secretary of the Treasury . . . should ... be considered only as ... simple semi-official exchanges of views." The atmosphere became chilly.

In London, however, a storm of indignation broke at the mere idea of France discussing her debt with America before making some pro- nouncement of her intentions regarding the debt of nearly $3,000,000,000 which is owing to Britain. The Morning Post: "If Germany had won the War, the American Congress, instead of laying down terms according to which France and Great Britain were to pay, would be discussing ways and means for paying an indemnity, a pretty fat one, to William Hohenzollern."