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! FRANCE PLANS SETTLEMENT j OF DEBT TO UNITED STATES j WASHINGTON, D. C, Dec. 17. France today informed the American government that it "hopes soon" to open negotiations for a settlement of its world war debt. France passed the December 15 due date-of the semi-annual installment on its defaulted debt, but in its note to this government said "as soon as a satisfactory development of the situation will permit the French government will not fall to seize the opportunity, which it hopes will be soon, to enter into conversations for the negotiation of an agreement to the conclusion of which, like the government of the United States, it attaches great importance." The note was delivered to acting Secretary of State Welles by the French Ambassador R. De Saint-Quentin. The French World War debt to the United States is approximately ,000,-000,000, second only to that of Great Britain which owes this country approximately ,000,000,000. It was indicated France was anxious to arrive at some settlement inasmuch as the door to further loans in the United States is closed by the Johnson Act, a fact which would place France in a desperate position financially were it to become involved in a war in Europe. The Johnson Act forbids American loans to debtor nations.
