FRENCH FINANCE

Dominion, Volume 19, Issue 47, 19 November 1925, Page 9

FRENCH FINANCE

GOVERNMENT’S PROPOSALS SOCIALISTS DECIDE NOT TO CONTEST THEM By Tblbgraph—Pbess Association. CoPYBIGHT. Paris, November 17. The Socialist Party, by 36 votes to 12. decided not to contest the Government’s financial proposals at. to-day’s meeting of the Chamber. This is important in view of the opening of the momentous financial debate, which is expected to open to-day, and which may last at least a month, in which Herculean efforts will be required to obtain even a narrow majority for the Government’s proposals. In both Houses the Government’s difficulties were increased bv the fact that the proposal must be voted bv an 8 to 12 majority. When the 2J milliards of Treasury bonds fall due for repayment, and having no funds to redeem the bonds and in order to avoid resorting to inflation, the Government proposes to suspend payment and give the holders other bonds in exter. CAPITAL LEVY PROPOSAL WITHDRAWN (Rec. November 18, 11.5 p.m.) ' Paris, November 17. The Socialists have decided to withdraw the capital levy counter proposal, thus assuring M. Painleve of a majority in the Chamber of Deputies.—Aus.N.Z. Cable Assn.