FALLING FRANC.

Press, Volume LXI, Issue 18310, 18 February 1925, Page 9

FALLING FRANC.

M. HERRIOT'S APPEAL.

WAR-TIME UNION NEEDED.

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(Received February 17th, 9.40 p.us.

PAKIS, February Is.

Addressing the Chamber of Deputies on the subject of the stability of the franc, which is disquieting by its fa'.? ing, M. Herriot said that despite uncus ploymont and an industrial crisis. Brv taiu was returning to the gold standard France must do the same, coat what it may.

The Premier made an impassioned appeal for the discarding of party differences and the rc-cstablishment of tiu* war-time union. He announced the abolition of tho system of Bordereau de Coupons, instituted last year, and designed to check the evasion of income tax payments on bearer securities, bat which had resulted in the export of capital, owing to the resentment against what had been considered inquisitorial methods.

M. Herriot enunciated the policy of borrowing on a minimum scale, and repaying on the maximum, and reiterated the rejection of the capital levy. He foreshadowed the punishment of fiscal fraud by imprisonment. The speech was received with cheers from the Left and silence from the Bight parties. EXCHANGE BATE IMPROVING. (aUSTRAAUK AXD X.Z. CA&LX Asaocune*-) (Received February 17th, 9.40 pan.) . LONDON, February 16L The foreign iexchange rate of the franc is 90.75 to tho pound eterKag. The improvement is attributed to the belief that M. Uorriot will tak* drastic steps to prevent further depreciation.