FRENCH CRISIS

Hokitika Guardian, 7 April 1925, Page 3

FRENCH CRISIS

AUSTRALIAN AND N.Z. CAIILK ASSOCIATION THE' comrromi.se question. T*A It JS> April 5. No fresh development in the French crisis is expected until Tuesday. According to newspapers, members of the Left Democratic group oppose toe Vatican compromise, also the capital levy, to which the rural Radical Deputies are also opposed. Al. Demonssic said that he did not favour a capital levy, but imvoxatious measures to bring in arrears of tax on war profits. The opinion is expressed that differences in the viewpoints of AT. Herriot and Demonzic may lead to a clash on Thursday. LONDON, April 0. The “Daily Chronicle’s” Paris ccrresjiondent states:—“Al. Demonz.ie, tre new Finance Minister is believed to be opppesed to the capital levy, and instead, be proposes to print a. few millin'ds of francs more paper money, and to take measures to ensure payment of the unpaid taxes on the war profits,” “The Socialists remain convinced that a levy oil capital is the only remedy, but one hundred and fifty two Senators of the Democratic Left have warned AL Herriot that lie must not count on them to pass a capital levy, and the majority of the Radical laTt in the House of Representatives, headed by AL Louchenr, threaten to break from tli Rloc.” LONDON, April 0. The “Daily Chronicle’s” Paris correspondent says that if the Government »re defeated, AT. Briand will probably lie asked to form a .Ministry, in which Af. Demon/,ie and AL Louchenr will bo included. i FRENCH FINANCE.

(Revived tlu.s da" at 10.25 a.rn.t PARIS, April 7. Domouzie submitted to the Cabinet bills with which lie proposed to improve the financial situation in the State Treasury. The first authorises the Baiique France to issue four millions of new bank notes. This increases to forty-five milliards of the limit fixed for the issue of bank notes which at present is 41 milliards, and will he met by an exceptional voluntary contribution from capital, the amount whereof is fixed in principle at ten per centum. This contribution will be productive of interest at four per cent, and all Treasury bills will lie accepted for payment at the current market rate, with a slipcht bonus. The product of the exceptional contribution will be applied to the redemption of the debt. Demon/,ie only contemplates a levy on capital as a last resort, in the event of non-acceptance of the foregoing proposals. Demon/,ie asked for a debate in the Chamber thereon tomorrow, when the adoption will be made a question of confidence. Cabinet discussed Demon/,ie’s proposals in the morning and adjourned till the evening, and meets again tomorrow. This delay in reaching a decision is attributed to Al. Herriot’s desire to confer with Socialist leaders, as f the idea of a voluntary capital eontrir— bution is opposed to the Socialist idea of a compulsory levy. -I. Mill era ml has joined the I’oincarist Senatorial group, known as Republican Union. Acknowledging the Chairman's welcome he said their task was to restore national concord. Millorn nd on taking his seat in the Senate received cheers from the Centre and icers and shouts of “Renegade! from the Left.