Debts and Reparations

An editorial in The New York World discussed the recent German offer to the Allies of $7,500,000,000 in relation to French finances. There are three chances, says The World:

1) If France receives only 52% of the reparations offer and must pay her debts to Great Britain:

Liabilities, $6,400,000,000

Assets, 3,700,000,000

Deficit, $2,700,000,000

2) If Britain canceled reparations and Britain and America canceled debts:

No liabilities.

Assets, $7,500,000,000

3) If Britain and the United States refuse to cancel, France, in order to gain the advantage of number two, must ask from Germany:

$7,500,000,000 for herself

7,500,000,000 for the other Allies

6,400,000,000 for her debts

$21,400,000,000 Total