FRENCH FINANCES.

Press, Volume LX, Issue 17983, 29 January 1924, Page 7

FRENCH FINANCES.

GOVERNMENT PROPOSALS. (BY CABLE—PRESS ASSOCIATION COPXMOHT.) (AUSTRALIAN AND N.Z. CABLE ASSOCIATION.) PARIS, January 27. During the resumed debate on the Government's financial proposals the Socialists . attributed the fall of the franc to tho Government's foreign policy. M. Poincaro asserted that an organised campaign existed with a view of discrediting French policy which he proceeded firmly to defend. M. Herriot, Radical Socialist leader, declared that the recent fall in the franc was due 1 to the British Conservatives selling sterling and francs to buy dollars. 'He declared that a Dutch bank bought 1,000,000 dollars with francs.

The closure was adopted without opposition. The debate will be continued on Monday. The discussion is expected to last 10 days. The proposals will be hotly fought by the Left Bloc in the hope of overthrowing the Government, but the latter's defeat is not likely. A Government representative declared that the proposals at the outside would mean an increase of four per cent, in the cost of living. , It was expected that M. Poincare would endeavour to close the general discussion to-day in order to make room for a detailed discussion. SURTAX ON FOREIGNERS. BILL IN CHAMBER. (Received January 28th, 9.20 p.m.) LONDON, January 27. The Paris correspondent of the "Morning Post" says the recent outbreak of feeling against foreigners, owing to th.e fall of the franc, was exemplified by the introduction of a private member's Bill imposing a surtax of 20 per cent, on the bills of all foreigners temporarily residing in French hotels.

' The promoters point out that a similar tax already operates in Germany. They estimate that the surtax will yield 2,000,000,000 francs yearly from 600,000 foreign visitors. ELECTION DATE FIXED. (AUSTEAUAN ASB H.Z. CASLfi ASSOCIATION.) PARIS, January 27. The Genera! Election has been fixed for May 11th.