FRENCH FINANCE

Dominion, Volume 18, Issue 97, 19 January 1924, Page 7

FRENCH FINANCE

.NEW TAXATION SCHEME GOVERNMENT WILL STAND OR FALL BY PROPOSALS ANGRY PROTESTS FROM TAXPAYERS The French Government has submitted to the Chamber of Deputies new taxation proposals, which have evoked angry protests from taxpayers, but the Government is determined to stand or fall by its scheme. By Telegraph—Press Association. —Oi'I'YBIGHT. London, January 17. “The “Daily Chronicle’s” Paris correspondent says that the Poincare Government is determined to stand or fall upon its proposals which were submitted to the: Chamber of Deputies on Thursday. The scheme is expected to bring in from £80,000,C00 to £90,000,000, of which 4700 million francs come from new taxation, a thousand million from retrenchment, and two thousand million from the collection of overdue taxes. The Government has decided that defaulting taxpayers, who are very numerous, must now pay. French taxpayers are generally astounded at the fresh demands, as they were led to expect much from the Ruhr occupation. There are angry protests on all sides, which are likely to make themselves heard in the. Chamber of Deputies. In French securities on the Bourse there have been sharp rises, 3L-per cent, rising by 2.15 to 54.80 francs.— Aus.-N.Z. Cable Assn BANK RAISES DISCOUNT RATE Paris, January 17. The Bank of France has raised the discount rate by ■} por cent. to 6 per cent. Cabinet has decided, with a view to the restoration of tho franc, to introduce a Bill authorising the suspension of the importation of commodities not corresponding to national necessities. —Reuter. HI HI IRON FROM THE RUHR SEIZED ALLEGED REPARATIONS IN KIND Paris, January 17. •* The French police have seized 10,000 tons of iron stored at Dunkirk, pending an inquiry as to its destination'. It is alleged that the iron came from the Ruhr as reparations in kind, and was legally delivered in the French devastated areas, and afterwards sent to Dunkirk. It appears to be established, that the original shipping bills were issued in the Ruhr, and authorised the iron’s being sent to Dunkirk. It is stated that since November there have been daily deliveries of similar iron to Dunkirk, and 600 tons have been exported from thence to Japan. The Parisian agents concerned in the forwarding of the goods explain that the iron was sent to Dunkirk for storage, because there was no accommodation elsewhere, and also that the j Japanese consignment was in error, Ruhr iron having been sent in mistake for iron from Lorraine. The purchaser for whom the agents acted is said to be an American.— .‘‘The Times.” ' •