THE FRENCH SITUATION

Hokitika Guardian, 28 July 1926, Page 2

THE FRENCH SITUATION

(Copyright to Australian Press Assn.)

LONDON, July 2G. Francs closed weaker today. 1* rcnch 19,500. Belgian 19,200.

POINCARE’S PROPOSALS. LONDON, July 27

The French resentment towards foreigners is spreading to the coastal towns, where there are British excursion steamers calling.

One party of three hundred Britishers were leaving Saint Mario, when a large crowd on the quayside hooted them. The crowd also passed uncomplimentary remarks about the parcels which the tourists were carrying away. Tlie vessel’s band played the “Marseillaise,” which had the opposite effect to what was intended. A section of the crowd, becoming infuriated, in tho midst of a torrent of anti-British abuse, hurled stones.and bricks aboard. One girl was injured. The passengers then threatened reprisals. The situation was saved by the captain of the vessel hurriedly ordering the vessel to leave. On returning tlie British excursionists expressed indignation at the treatment they met with in France. PARIS, July 26. It is semi-officially confirmed that M. Poincare’s financial measures, which will be introduced in the Chamber on July 27th., will be confined to the ret vision or the increase of the taxes, and to a drastic reduction in expenditure. It is estimated that the Treasury "?cds two and a half milliards of francs more before December 31st. next which will he' obtained from indirect taxes, including a revision of the business turnover tax, import duties on coffee, tea, rice and other goods; an increase in the customs and transport tariffs. The proceeds of the readjustment of the direct taxes, which will not ho available before 1927, will be allocated to a sinking fund for the floating debt. M. Poincare means to rush these measures through Parliament.