FRANCE’S FINANCES

Gisborne Times, Volume LXIII, Issue 10139, 27 October 1925, Page 5

FRANCE’S FINANCES

OAILLAUX ON THE DEFENCE. FIRM HOSTILITY TO CAPITAL LEVY. (Received Oct- 27, 1 a.m.) PARIS, Oct. 25. M. Caillaux, in a speech at. the Chateau Du Loir in his own Department of Sarthe, outlined his financial policy, namely firm opposition to _ a capital levy and forced consolidation of short term debt- or a reduction of interest and rents, but a policy or progressive taxation, severely hitting opulence and pitiless taxation on lux ur iss special but moderate taxes on all forms of wealth and a reduction of expenditure. He declared they would only get out of the wood slowly. It was impossible to restore the finances in a few months. M. Caillaux concluded in a fighting spirit, clearly referring to the possibility of lus imminent resignation. He declared that he would be only too glad to return to the ranks. He always would .lie a devoted servant of France. -He had suffered and doubtless would suffer many trials and awaited fresh crowns of thorns on his forehead which was still bleeding. But like the old oak in the forest of Sarthe which the lkdifniug ' struck hut bad not .felled, he stood upr'glit for the defence of the public, finances and the defence of the Republic against reactionaries, and against feudalism. Referring to war debts, M. Caillaux said he was confident a settlement would sbe reached before many months.—A. and N.Z.C.A. PARIS, Oct. 26. The newspapers express the opinion that if M. Caillaux refuses to cone into line with the Bloodesgnucho upon taxation and will not resign Cabinet will tender its resignation and the President will ask M. Pamleve to form another Ministry eliminating M. Caillaux’s ' supporters, M. Painleve or M. Loucheu r becoming Finance Minister.—A.,and--N.Z.O.A.