THE FRENCH CRISIS

Hokitika Guardian, 23 November 1925, Page 3

THE FRENCH CRISIS

FRENCH POLI'J it *. [Australia it X.Z. Cable Association.) PARIS, Nov. 22. The Chamber adopted the first article of government's financial programme. The article provides for the establishment of a sinking fund, which will ho administered by an autonomous public body, with an independent directorate numbering twenty-three, and representing all fields of national activity. Members will not receive remuneration. There will lie a crisis again next week, if Government i.s compelled to ask authoritv to issue over one and a-ltalf milliard francs hank notes to meet libilities for the month, as the Socialists arc adamant in refusing consent to a farthing over that amount. The Chamber also adopted Article 2. fixing the resources of the sinking fund, and the use to which they may he put. after which M. Painleve fervently appealed for the debate to lie sped up otherwise lie would he compelled to resign. The Chamber thereupon agreed to sit on Sunday.

PARIS. November 22. The Government narrowly escaped defeat on a crucial amendment suppressing article five of the Government’s proposals providing lor a moratorium for defence bonds due on Bth December. The amendment was defeated after M. Painleve, amidst great excitement, had declared the Government would resign if the amendment were carried.

The Chamber had previously adopted articles three and four, stipulating the total national defence bonds can only l*e increased to provide sums necessary for the nayment, of slmrl term debts, cs they fall due and in no ease to he in excess of this amount. PARIS. November 22. When M. Hcrriot announced the result of the vote Article 5. M. Painleve arose and walked out of the Chamber with his portfolio under his arm. billowed l,v other members ol the Government amid the cheers ol the Radicals and Socialists. The Government defeat was not surprising as its majority of twenty-eight during the morning

was a narrow shave because iwentvuine Communists, who habitually vote against the Government, abstained, hut they voted against the Government this afternoon. FRENCH GOVERNMENT RESIGNS. (Received this day nr 3.30 n.ru.) PARIS. November 22. The Government resigned after the Chamber by 278 to 275 finally rejected Article 5.