The Guardian And Evening Star with which is in corporated the West Coast Times WEDNESDAY, JULY 21, 1926.

Hokitika Guardian, 21 July 1926, Page 2

The Guardian And Evening Star with which is in corporated the West Coast Times WEDNESDAY, JULY 21, 1926.

FRENCH POLITICS. Were the situation not so serious nationally, the position is so grotesque in French politics, would be really humourous. As it is the situation is absolutely serious. M. Briand, who was defeated but once again, has predicted a financial catastrophe. The temper of the people, as revealed in some of the late cable news, seems to suggest something more serious. The impasse which is reached as soon as the successive governments seek to enforce a stabilising policy, has grown familiar Jo the readers • of the cable Sews.

With the fall of each Ministry there is a fresh shuffle of the cards, and a new Ministry enters upon its task. No sooner are its proposals brought down than the lio-conlidenec of the Chamber of Deputies is manifested, and the Ministry (always with a good deal of dramatic show) resigns. It is eleni, however, that flic procedure which has so far been countenanced must end. The. franc continues to depreciate in value, and France through its Paili.imont refuses to do anything to justify a negative" attitude. On top of the fall in the value of the franc, is the debt settlement. Great Britain, as usual, offered a considerable concession in the recent debt agreement which was reached. The policy laid down for Britain some time- ago, that Britain in regard to he war debts should pay only in equal quotas to that received from her debtor war nations, has been departed from. England has shouldered all her war debt, to America despite what may be 'received from debtor Allies. And a great slice of Britain's debt was for the benefit of France. But Britain is to pay. Her action towards France is being contrasted with that of the United States, to the detriment of the latter, but Americans are steming the comment with assertions that they are giving Franco the most favoured treatment. Be that as it may, it would appear Franco is not going to pay anyone for sometime to come, so any magnanimity is of little value. But at least- Great Britain showed genuine bona tides, and is entitled to credit accordingly. Just what France will he able to do now is doubtful. No one is prepared to bo heroic on behalf of the nation. It is a case for a dictator, but the -French Chamber will not part with its authority to any dictator at present on the political horizon. The gathering of financiers in Paris to which reference has been made, might do something to solve the problem, which on its merits is outside the ability of French finaneics. The situation is complex and difficult in the extreme, and France is cutting rather a sorry figure meantime. The developments will he watched very closely in the immediate future for they are of national if not international concern.