FRENCH FINANCIAL CRISIS

Hokitika Guardian, 24 January 1924, Page 2

FRENCH FINANCIAL CRISIS

FRENCH DECISION"

AUSTRALIAN AND N.Z. CABLE ASSOCIATION

LONDON, January 22,

The Paris correspondent adds:—'Hie lietcrmin.'tt-on uf the Government to nqi i t all measures involving public, expenditure, which is not balanced _l>y corresponding taxation, is bound to he severely criticised. Protests are particularly vehement regarding the decision not to proceed with bills for the revision of pensions and .social insurance, which arc already far advanced. Government will also have to resist n Hank attack from the full weight of the. Socialists against the proposal to. siri-render the match monopoly, which tlu State lias held since 1899. THE TAXPAYERS DISILLUSIONED [“The Times” Service.] LONDON, Jan. 22. The ■•Times” correspondent says that there is every reason (o believe the Rill- which the French Government is submitting, probably on Thursday, to deal with the financial crisis will become law. Their passage through the Chamber and Senate, however, will not he smooth. 11 is realised that Ai Poincare’s foreign policy is unassailable and therefore the sudden development of the financial crisis is bringing the internal policy to the forefront, which is hailed by opponents of the Government as providential intervention from which they hope to derive much profit. The people of France, while ready to admit tho necessity of the Government’s measures and are prepared to steel their nerves and make the necessary sacrifices, are naturally blaming the Government fox allowing the country to drift into tho present dilemma. They have persuaded themselves that from the Ruhr occupation much profit would flow into tlio national treasury and now are told the Government never contemplated obtaining reparations from the Ruhr, which was only seized as a pledge for eventual payment. Thus, the French elector is disillusioned, but in no way comforted as lie is faced with a twenty per cent increase in all direct taxation.