THE FRENCH CRISIS.

Auckland Star, Volume LV, Issue 115, 16 May 1924, Page 5

THE FRENCH CRISIS.

NOMINEES FOR CABINET, j M. HERRIOT, PREMIER, OPINIONS IN ENGLAND. ) (By Cable.—rress Association.—Copyright.) < LONDON, May 15. The Paris correspondent of the "Daily Chronicle" states" that M. Mill.rand. President of France, intends consulting with M. Hcrriot next week, despite oppo- , sition from the Left wing of the Radical Socialists. i ' It is almost certain, soys the correspondent, that M. Briand will become Minister of Foreign Affairs. Admiral Jaures, a brother of the late Socialist leader, is considered likely to be appoint- j ed Minister of the Navy, and M. Pain- j'_ leve Minister of 'War. | The new Communist deputy for ' Basrhin has given notice that lie intends i to speak in German in the Chamber. He j says his sole reason is that he does not know the French language. The official British Labour organ, the "Daily Herald," in a striking leading article, claims that M. Poincarc's defeat is a triumph for Mr. Ramsay MaeDonald's foreign policy. It compares the British Prime Minister's "frank courtesy, coupled with his clear and friendly state- | ment of faces," with "Lord Curzou's policy, veiled opposition, and petty annoyance.*' The paper argues that Mr. Mac Donald < probably did more to persuade the ' French people to change their minds about M. Poincare than all the denunciations of his political opponents. The i article concludes: The chief obstacle to the reparation settlement is now out of > the way, and there is every hope that Labour's foreign policy will bo crowned with brilliant and enduring success. i The Washington correspondent of the "Times" states thnt the opinion in the United States capital is that tbe result 01 the French elections wifl have a more important bearing on the rehabilitation of Europe than any development in recent months. It is considered that while home issues defeated M. Poincare, there will yet be room for sufficient modification of the Ruhr policy to permit an Anelo-Frcneh entente, without which nothing is possible. ! It was feared that tbe growth of ■ Nationalist sentiment in Germany, and the prams it had made at the elections. | would have produced a corresponding i effect in France. Now this danger seems to be removed, and the interest turns on the effect of tbe French elections on the German policy of development, which in the American view means substituting moderation and sanity for competition and sabotage. The key to the situation, however, is still recognised to be putting into operation the reparation experts' plan. If this cannot be done without American | heln, then equally it cannot be done , without joint determination on the part of France and Germany to give the plan nn honest trial. Under M. Poincare it was feared that there would be obstacles, j The tendency now is toward greater optimism than has been felt for many months. Correspondingly there is a'■ greater belief that next year there may be international conferences out of which European construction may ultimately come. — (A. and N.Z. Cable.) EFFECT ON EXCHANGE. THE FRANC IMPROVES. LONDON, _fay 15. The franc is quoted at 73...S to the sterling, as compared with 76.45 on , Monday. j A message from New York states that', despite the political upheaval in France, tbe franc exchanges have been showing remarkable stability, with a decided upward tendency. Sterling to-day 1 reached and the franc 5.0-10 cents. The latter being approximately the price i which ruled before the French elections, \ it has somewhat disturbed the equanimity of the market. Observers explain the paradox by pointing out that the spokesmen of the party which is succeeding M. Poincare • are frankly pledging their adherence to j the reparation experts' plan, whereas M. • Poincarc's espousal of the plan seemed i half-hearted. Furthermore, they say that the Germans now apparently cherish fewer illusions regarding the possibility of their escaping payments, while their new leaders express eagerness to restore a semblance of financial order through a plan which, though perhaps imperfect, is nevertheless popular.—(A. and N.Z.) THE WORKING MAJORITY. LARGER THAN BEFORE. PARIS, May 15. Official checking has revealed a miscount in one Seine constituency. The result is that the Communist candidate has been returned instead of a Poincarist. Seven out of the 10 colonial returns j have now been received. The successful ! candidates comprise three Radical Socialists, two Republican Socialists, one Left t Republican, and one non-party candidate, i These results slightly increase the , majority of the Left bloc—(A. and N.Z.) j