FRENCH FINANCE

Gisborne Times, Volume LXIII, Issue 10140, 28 October 1925, Page 3

FRENCH FINANCE

FRANC FALLS . BELOW. LAST .. - - YEAR’S LEVEL. ,

CABINET CRISIS

v ' - LONDON, Oct. 26. The French franc is quoted in London at 1211, exceeding last year’s record of 1201. PARIS, Oct. 26.

The newspapers are absorbed with the political crisis, -and express the opinion that after M. Caillaux’s speech only a miracle can prevent the Cabinet’s resignation. M. Hcrriot, in a speech, declared that the time for physicians had passed and it was necessary for surgeons to intervene. As a. result of M'. Briand strongly supporting M. Caillaux because he does not desire. a Ministerial crisis at the time of the meeting of the Council of the League. of Nations in Paris a crisis will possibly be prevented, or at least postponed. Cabinet is still discussing financial projects. There was a stormy scene at ' a meeting of M.M. Painleve, Briand, Caillaux, and'the latter’s chief supporter, M. Laval, in the Premier’s private room before the Cabinet meeting. According to a Havas Agency report, M. Painleve-asked Mi Caillaux to resign. The latter refused. whereupon MifUPainleve >: is stated to have replied that he would be obliged to submit the collective resignation of the Cabinet: M. Caillaux objected to this course being adopted, adding that the idea was clearly to enable M. Painleve to reconstruct the Cabinet, omitting M. Caillaux.

The trouble was ended by the adoption of a. suggestion of M. BHand’s that the question be deferred pending discussion by the whole of the Cabinet.—Reuter.

MOVE TO REMOVE CAILLAUX

CABINET MAY RESIGN EN BLOC.

(Reee'ved Oct. 27. 7.20 p.m.) PARIS', Oct. 26

AY oil informed circles consider it certain tin t Cabinet will resign en bloc-to-morrow, apparently with the object of getting r'd of M. Cai laux as' a sequel to Cabinet’s decision to proceed against speculation in the franc. The Controller of Finance Ministry inspected the books of certain hanks.—Reuter. (Received Oct. 27, 7.20 p m.) PARIS, Oct. 26. M. Pa'rJeve categorically d ived the story of a disagreement with M. Caillaux. Cn the contrary the Government was considering 'a new financial project, which it hopes would be acceptable to the majority of the Chamber.—A. and N.Z.O.A.