FRENCH POLICY.
LAVAL'S STATEMENT. Sacrifice No Credit Without Debt Remission. DUTY TO POSTERITY.
(United P.A.—Electric Telegraph—Copyright) (Received 1.30 p.m.) PARIS, January 19. The declaration of M. Laval, Premier, marking the appearance of the new Ministry, asserted that the cancellation of war debts and reparations was a panacea without penitence, emanating from imaginative theorists who had not faced the facts. France would not accept proposals which were inadequate to solve the crisis and which struck at her essential interests and rights.
She had to fulfil the duty of probity towards the generation surviving the war and she would sacrifice no credit without a corresponding remission of her own debts.
She had also the duty of prudence towards future generations by subordinating agreement to a just balancing of the conditions of production. The existence of such balance would be broken if, after the crisis, disproportionate fiscal financial burdens handicapped France in international competition.
France's policy was as defined in the memorandum of July 15.
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Auckland Star, Volume LXIII, Issue 16, 20 January 1932, Page 7
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162FRENCH POLICY. Auckland Star, Volume LXIII, Issue 16, 20 January 1932, Page 7
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