FRENCH FINANCE BILL.
TIIE NEW PROPOSALS
[Australia A X.Cable Association.]
PARIS, June 20,
In the Chamber of Deputies, -M. Caillaux (Finance .Minister) submitted new linaiicial proposals. He proposed an increase of six milliard francs in the advances by tbe Bank of France to the State, the maximum issue of the Bank’s notes being correspondingly increased by six milliards to fifty-one milliards, lie also proposed the issue of a loan, reserved to the holders of National Defence Bonds, with a guarantee against fluctuating exchange and rate of interest. The maximum total of the floating debt would he fixed at the amount attained on the closing of the aforementioned loan, excluding the six milliards ol advances to the State and any sums requisite for the subsequent repayment of short term debt.
'The preamble of the Hill draws attention to the difficulties ot the lroasury. and says that, in order to meet the situation', the Government arc determined only to resort* to normal methods, rejecting any system of constraint. The preamble makes a supreme urgent appeal to the nation freely to help to relieve tne Treasury’s difficulties and to dispel anxiety regarding the future. PAIU.S, June 26. The Finance Committee of the French Chamber, after hearing AT. Caillaux, rejected the Socialists’ proposal for a capital levy, by 21 votes to TL and adopted the Government 6 bill, with modifications.
The Socialists, however, decided to maintain their demand in the Chamber itself for a capital levy. PARIS, June 27.
The Chamber of Deputies was still sitting this morning. The first clause of the Finance Bill was passed, a Socialist Amendment being rejected by 310 to 210.
A Communist amendment was also defeated by 421 to GO. M. Painleve. the Premier, then declared the question one ot confidence. The Chamber agreed to tbe proposed increase' of six milliards in tbe note issue, by 328 votes to 118. Most ’of the Socialists abstained
trom voting. The Senate Finance Committee, by ;* votes to 6. with eleven abstentions. adopted M. Caillaux’s proposals. PARIS, June 27. The Chamber of Deputies passed the whole of M. Caillaux’s proposals by 330 votes to thirty-four. Tlio, Senate also passed the Covornment’s financial bill by 2/3 to 11
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Hokitika Guardian, 29 June 1925, Page 2
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365FRENCH FINANCE BILL. Hokitika Guardian, 29 June 1925, Page 2
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