ATTEMPT TO SOLVE CRISIS

Evening Post, Volume CIX, Issue 150, 29 June 1925, Page 5

ATTEMPT TO SOLVE CRISIS

CAILLAUX OFFERS HIS PROGRAMME I FOB 3S rATIONAX, HELP d i" "•.. .■■ .■ ';■' I {united press Association—copsrioht.J I ' (REOTER'S TELEGRAM.) . | PARIS, 27th June. | In the Chamber of Deputies, M. Caillaux, Minister of Finance, submitted his financial proposals.; Xiiey are :— [:■ (1) The increase by six milliards of francs of the advances of the Bank of France-to the State, and the corresponding increase of the.^maximum issue of bank notes by six milliards to 51 milliards. (A milliard is 1000 millions).

(2) The issue-p£ a loan,, reserved to holders of National Defence bonds, with a, guarantee, against fluctuations of exchange and of the rate of interest.

(3) The fixing of the maximum total floating debt at the amount attained on the closing of the aforementioned loan excluding sis milliards of francs advanc-

Ed to the State and any sums requisite for subsequent repayment of shorkterm debt. -': ,

The preamble of the Bill draws attention to the difficulties of the Treasury, and says: "la order to meet the situation, the Government is determined only to resort to normal methods, rejecting any system'of constraint, and makes a supreme and urgent appeal to the nation freely to help to relieve the Treasury's difficulties .'! and. dispel anxiety as to the future." :

The Finance Committee of the Chamber of Deputies, after hearing Mr. Caillaux, rejected the Socialists' "proposal for a capital levy by 21 votes to 14, and adopted the Government Bill with modifications. The Socialists decided to maintain their demand in the Chamber for a capital levy. -: -.;...