French Mineral Position

FRANCE will be given a large portion of the Marshall Plan funds for relief, reconstruction, and industrial development in France and in her colonial possessions. At present that country is not in position to export any large tonnages of the mineral products needed in the United States. However, if, through Marshall Plan aid and private capital investment, production of these products can be largely increased, agreement should be made by which the United States is to get a substantial portion of such increased output in part payment for the material and technical aid they receive. France issued a decree, published in the "Official Gazette" on Feb. 3, 1948, which permits conversion into dollars of dividends derived from dollar investment in Government-approved projects and will agree to a scale of capital amortization to be determined in each individual case. This decree is to encourage private capital to cooperate with local capital in industrial undertakings. The French Colonial Ministry has prepared an extensive program for aid to the mining industries in overseas possessions to be undertaken by