Crisis in France

Hawke's Bay Tribune, Volume XIV, Issue 80, 12 March 1924, Page 4

Crisis in France

THE ELYSEE CONFERENCE. A COUNCIL OF WAR. DRASTIC PROPOSALS DISCUSSED. 'Uy Cable.AnHoolallon- Copy rig fat ♦ Paris, March 11. The conference at th© Elysee was a council of war unprecedented in French history, marking th© grav© concern with which th© Government contemplates th© collapse of the franc.

The measures discussed are believed to include reduction of th© fiduciary circulation. which hag practically touched the legal limit, reduction in expenditure on th© devastated areas, a n increase in the discount rat©, and heavy buying of irancsAs secrecy is essential to the success of the counter offensive no official details hav© transpired.—(Reuter). SENATE AND PREMIER. THE DEADLOCK MAINTAINED. London, Alar. 11. The newspapers give prominence to the prospect of a conflict between the Senate and M. Poincare, resulting in the Senate’s capitulation over the financial proposals or the Premier’s resignation before the week-end. It is understood the Senate Finance Committee will bo unable to recommend acceptance of the full proposals. It accepts tho increase in the price of tobacco, but refuses the suppression of the match monopoly. It accepts the increase in fines for the non-payment of taxes, but refuses a deduction for prompt payment. On the contrary it inserted a clause adding 6 per cent to all taxes unpaid within the legal period, and a further 2 per cent on all taxes unpaid within three months.— (A. and N.Z.)