FRANCE AND FINANCE.

Timaru Herald, Volume CXXIII, 29 March 1926, Page 9

FRANCE AND FINANCE.

Franc’s Sensational Fall.

MONEY WANTED IMMEDIATELY

By Cable —Press Association —Copyright. Australian and N.Z. Cablo Association (Received March 28, 5.5 p.m.) PARIS, March 27. M. Briaml unexpectedly visited the Seiuite.

lie appeared upset over the fall of the franc, which he remarked was most unfortunate. lie anxiously inquired as to the prospects of she Senate’s acceptance of the Government’s financial proposals earlier jn the day. A statement was made to ihe Chamber’s finance committee by M. Perot (Minister of Finance) in winch he said the money must bo collected hv the Treasury immediately, and must bo collected every month. Newspapers consider this statement in some measure contributed to the franc’s sensational fall. On the other hand it may save the life of the Government, because J o combination is willing to take over :ho desperate situation.

NEW TAXATION AGREED TO. U y Cable—. Press Association—Copyright. Australian and N.Z. Cabla Association Received 11.15 p.m., March 28. PARIS, March 27.

The Chamber of Finance Committee agreed to new taxation yielding an estimated revenue of 1380 million francs, including a profits tax from the conveyance of real property, an increased tax on the sale of businesses, and doubling the turnover tax on firms whose figures exceed a million francs. It is understood that the Finance Minister (M. Peret) is willing to accept a compromise on the proposal to make up the remaining deficit of over a milliard francs, by a general turnover tax, exclusively confined to wholesalers and middlemen. LONDON March 26. _ The French franc on London established a new low record, closing at 141.31. The selling is believed to be emaniting chiefly from Pai'is.