FALL OF THE FRANC

Dominion, Volume 18, Issue 105, 29 January 1924, Page 7

FALL OF THE FRANC

SOCIALISTS BLAME FRANCE’S FOREIGN POLICY THE PREMIER’S DEFENCE By Telegraph—-Press Association. —Copyright. Paris, January 27. In the resumed debate on the Government’s financial proposals the Socialists attributed the fall of the franc to the Government’s foreign policy. Al. Poincare asserted that an organised campaign existed to depress the franc with a view to discrediting the French policy, which he proceeded firmly to defend. Al. Heriot, the Radical Socialist leader, declared that the recent heavy fall was due to British Conservatives selling sterling for francs to buy dollars. He declared that a Dutch bank bought a million dollars with francs. The closure was adopted without opposition. The debate will be resumed on Monday.—Reuter. SURTAX ON FOREIGNER’S BILLS PROPOSED (Rec. January 28, 9.20 p.m.) London, January 27. The “Morning Post’s” Paris correspondent says the recent outbreak of feeling against foreigners owing to the fall of the franc is 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 and pensions. The promoters point out that a similar tax already operates in Germany. They estimate that the surtax will yield two thousand million francs yearly from 600,000 foreign visitors. —Aus.-N.Z. Cable Assn. FRENCH GENERAL ELECTION Paris, January 27. The general election has been fixed for May 11.—Aus.-N.Z. Cable Assn.